Auto Owners Insurance Co Purchases 4,103 Shares of Stryker Corporation $SYK

Auto Owners Insurance Co boosted its position in shares of Stryker Corporation (NYSE:SYK) by 97.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,293 shares of the medical technology company’s stock after purchasing an additional 4,103 shares during the quarter. Auto Owners Insurance Co’s holdings in Stryker were worth $3,281,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Stryker in the 2nd quarter valued at about $26,000. Sachetta LLC increased its stake in shares of Stryker by 58.7% in the 2nd 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 last quarter. Ridgewood Investments LLC increased its stake in shares of Stryker by 48.4% in the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock valued at $36,000 after acquiring an additional 30 shares during the last quarter. Ransom Advisory Ltd bought a new stake in shares of Stryker in the 1st quarter valued at about $37,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in shares of Stryker in the 1st quarter valued at about $40,000. 77.09% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Stryker news, insider Viju Menon sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the completion of the transaction, the insider owned 12,511 shares of the company’s stock, valued at $4,886,921.71. This represents a 3.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the transaction, the director directly owned 3,222,108 shares of the company’s stock, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 5.20% of the company’s stock.

Stryker Price Performance

NYSE SYK opened at $376.11 on Wednesday. The business has a 50 day simple moving average of $379.59 and a 200 day simple moving average of $380.49. 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. The stock has a market cap of $143.79 billion, a price-to-earnings ratio of 49.82, a PEG ratio of 2.76 and a beta of 0.94.

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

Stryker Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently commented on SYK shares. Needham & Company LLC upped their price target on Stryker from $442.00 to $448.00 and gave the company a “buy” rating in a research note on Friday, August 1st. UBS Group set a $408.00 price target on Stryker in a research note on Monday, October 13th. Barclays upped their price target on Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Finally, Truist Financial lowered their target price on Stryker from $415.00 to $407.00 and set a “hold” rating for the company in a research note on Wednesday, October 15th. Fifteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $432.24.

Stryker Company 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.