Stryker Co. (NYSE:SYK) Shares Acquired by First Trust Direct Indexing L.P.

30 Oct 2024, 16:33 by Danessa Lincoln · The Markets Daily

First Trust Direct Indexing L.P. lifted its holdings in Stryker Co. (NYSE:SYK – Free Report) by 8.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,882 shares of the medical technology company’s stock after purchasing an additional 1,031 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Stryker were worth $5,015,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Miracle Mile Advisors LLC acquired a new stake in Stryker during the first quarter valued at approximately $308,000. Monument Capital Management acquired a new position in shares of Stryker during the 1st quarter worth $234,000. Norden Group LLC bought a new position in shares of Stryker in the 1st quarter valued at approximately $4,027,000. Kovack Advisors Inc. acquired a new position in Stryker in the 1st quarter valued at $224,000. Finally, Oak Harvest Investment Services increased its stake in shares of Stryker by 7.5% in the first quarter. Oak Harvest Investment Services now owns 5,503 shares of the medical technology company’s stock worth $1,969,000 after purchasing an additional 382 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

SYK has been the topic of a number of research reports. UBS Group boosted their target price on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday. Piper Sandler restated an “overweight” rating and set a $380.00 price objective on shares of Stryker in a research report on Tuesday, September 10th. Robert W. Baird raised their target price on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday. Barclays increased their price objective on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Morgan Stanley lifted their target price on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $385.11.

View Our Latest Research Report on Stryker

Stryker Price Performance

SYK traded up $2.50 during midday trading on Wednesday, hitting $361.51. The company had a trading volume of 960,800 shares, compared to its average volume of 1,249,462. Stryker Co. has a twelve month low of $264.85 and a twelve month high of $374.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. The firm’s 50-day simple moving average is $359.43 and its 200-day simple moving average is $343.84. The company has a market capitalization of $137.72 billion, a PE ratio of 41.16, a P/E/G ratio of 2.73 and a beta of 0.91.

Stryker (NYSE:SYK – Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.78 by $0.09. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period last year, the company earned $2.46 earnings per share. The company’s revenue was up 11.9% on a year-over-year basis. Equities research analysts predict that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a dividend of $0.80 per share. The ex-dividend date is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.89%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the transaction, the director now directly owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the transaction, the director now directly owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,068 shares of company stock worth $71,811,372. 5.90% of the stock is owned by insiders.

Stryker Company Profile

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