626 Financial LLC Trims Stock Position in Stryker Corporation $SYK

626 Financial LLC lessened its stake in Stryker Corporation (NYSE:SYK) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 80,139 shares of the medical technology company’s stock after selling 139 shares during the period. Stryker comprises about 14.8% of 626 Financial LLC’s portfolio, making the stock its biggest position. 626 Financial LLC’s holdings in Stryker were worth $31,705,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in SYK. Nuveen LLC bought a new stake in shares of Stryker during the 1st quarter valued at about $558,075,000. Price T Rowe Associates Inc. MD boosted its position in shares of Stryker by 9.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company’s stock valued at $4,515,847,000 after purchasing an additional 1,021,496 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Stryker by 66.7% during the 1st quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company’s stock valued at $511,152,000 after purchasing an additional 549,643 shares in the last quarter. Vanguard Group Inc. raised its stake in Stryker by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company’s stock worth $12,306,572,000 after buying an additional 361,136 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Stryker by 13.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company’s stock worth $838,640,000 after buying an additional 261,058 shares during the period. Institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other Stryker news, insider Viju Menon sold 500 shares of the stock in a transaction 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 directly owned 12,511 shares of the company’s stock, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on Wednesday, August 6th. The shares were 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 5.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SYK shares. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Barclays upped their price target on Stryker from $443.00 to $453.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Truist Financial dropped their price target on Stryker from $415.00 to $407.00 and set a “hold” rating on the stock in a research note on Wednesday, October 15th. Rothschild Redb raised Stryker to a “hold” rating in a research note on Thursday, September 18th. Finally, Evercore ISI lowered their price objective on Stryker from $418.00 to $410.00 and set an “outperform” rating for the company in a research note on Tuesday, October 7th. Fifteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and a consensus target price of $432.24.

Stryker Stock Performance

Shares of SYK opened at $376.11 on Wednesday. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $143.79 billion, a price-to-earnings ratio of 49.82, a PEG ratio of 2.76 and a beta of 0.94. The stock has a 50 day moving average of $379.59 and a 200 day moving average of $380.49. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19.

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

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders 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 yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker’s dividend payout ratio is 44.50%.

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.