FORA Capital LLC Invests $2.86 Million in Stryker Corporation $SYK

FORA Capital LLC purchased a new stake in Stryker Corporation (NYSE:SYK) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,240 shares of the medical technology company’s stock, valued at approximately $2,864,000.

Several other institutional investors have also modified their holdings of the stock. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Stryker in the 2nd quarter valued at about $26,000. Elevation Point Wealth Partners LLC purchased a new stake in Stryker in the second quarter valued at approximately $28,000. Sachetta LLC boosted its holdings in shares of Stryker by 58.7% in the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 27 shares during the period. Kilter Group LLC purchased a new position in shares of Stryker during the second quarter worth approximately $29,000. Finally, Howard Hughes Medical Institute purchased a new position in shares of Stryker during the second quarter worth approximately $29,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Preston Wendell Wells sold 165 shares of Stryker stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $365.88, for a total transaction of $60,370.20. Following the completion of the transaction, the chief financial officer directly owned 6,694 shares in the company, valued at $2,449,200.72. The trade was a 2.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO William E. Berry, Jr. sold 1,953 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $365.49, for a total value of $713,801.97. Following the completion of the sale, the chief accounting officer directly owned 2,833 shares in the company, valued at approximately $1,035,433.17. The trade was a 40.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 522,118 shares of company stock worth $185,381,932. Insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of recent research reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $435.00 price target on shares of Stryker in a research note on Friday, November 14th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Stryker in a report on Monday, November 3rd. Citigroup lowered their price target on Stryker from $455.00 to $420.00 and set a “buy” rating on the stock in a report on Thursday. Evercore ISI dropped their price target on Stryker from $410.00 to $405.00 and set an “outperform” rating on the stock in a research report on Friday, October 31st. Finally, UBS Group set a $408.00 price objective on Stryker in a research report on Monday, October 13th. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $431.83.

Stryker Stock Performance

SYK opened at $353.99 on Friday. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19. The stock has a market cap of $135.37 billion, a P/E ratio of 46.52, a P/E/G ratio of 2.51 and a beta of 0.89. The stock’s 50 day simple moving average is $366.81 and its 200 day simple moving average is $378.46. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.85 and a quick ratio of 1.13.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, October 30th. The medical technology company reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.13 by $0.06. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $6.04 billion. During the same period in the previous year, the business earned $2.87 earnings per share. Stryker’s quarterly revenue was up 10.2% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. As a group, equities analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.88 per share. This is an increase from Stryker’s previous quarterly dividend of $0.84. The ex-dividend date is Wednesday, December 31st. This represents a $3.52 annualized dividend and a yield of 1.0%. Stryker’s payout ratio is 44.15%.

About Stryker

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.