LGT Fund Management Co Ltd. Increases Stake in Stryker Corporation $SYK

LGT Fund Management Co Ltd. lifted its stake in shares of Stryker Corporation (NYSE:SYK) by 23.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,901 shares of the medical technology company’s stock after buying an additional 934 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Stryker were worth $1,939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of SYK. Goodman Advisory Group LLC purchased a new position in shares of Stryker during the first quarter valued at about $32,000. City Holding Co. increased its position in shares of Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock valued at $33,000 after buying an additional 74 shares during the period. Ridgewood Investments LLC increased its position in shares of Stryker by 48.4% during the second quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock valued at $36,000 after buying an additional 30 shares during the period. Ransom Advisory Ltd purchased a new position in shares of Stryker during the first quarter valued at about $37,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in Stryker during the first quarter worth about $40,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Trading Up 1.1%

Shares of NYSE SYK opened at $370.59 on Friday. The firm’s 50 day moving average price is $382.81 and its 200-day moving average price is $378.93. The company has a market cap of $141.68 billion, a PE ratio of 49.08, a P/E/G ratio of 2.67 and a beta of 0.94. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $0.06. The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, equities research analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker’s payout ratio is presently 44.50%.

Insider Activity at Stryker

In other news, insider Viju Menon sold 500 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $390.61, for a total transaction of $195,305.00. Following the completion of the transaction, the insider directly owned 12,511 shares of the company’s stock, valued at $4,886,921.71. The trade was a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the transaction, the director directly owned 3,222,108 shares of the company’s stock, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SYK has been the topic of several research reports. Wells Fargo & Company boosted their price objective on shares of Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Redburn Partners set a $420.00 price objective on shares of Stryker in a research note on Thursday, September 18th. BTIG Research reissued a “buy” rating on shares of Stryker in a research note on Monday, July 14th. Weiss Ratings reissued a “buy (b-)” rating on shares of Stryker in a research note on Saturday, September 27th. Finally, Rothschild & Co Redburn initiated coverage on shares of Stryker in a research note on Thursday, September 18th. They set a “neutral” rating and a $420.00 price objective on the stock. Fifteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and an average price target of $430.33.

Stryker Profile

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.