Artisan Partners Limited Partnership Decreases Position in Stryker Corporation $SYK

Artisan Partners Limited Partnership decreased its holdings in shares of Stryker Corporation (NYSE:SYK) by 9.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 10,530 shares of the medical technology company’s stock after selling 1,134 shares during the period. Artisan Partners Limited Partnership’s holdings in Stryker were worth $4,166,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. United Services Automobile Association acquired a new position in Stryker in the first quarter valued at $2,857,000. Hendley & Co. Inc. lifted its position in shares of Stryker by 60.3% in the 2nd quarter. Hendley & Co. Inc. now owns 14,018 shares of the medical technology company’s stock worth $5,546,000 after buying an additional 5,274 shares during the last quarter. AXS Investments LLC increased its holdings in shares of Stryker by 13.7% in the 1st quarter. AXS Investments LLC now owns 8,827 shares of the medical technology company’s stock worth $3,286,000 after acquiring an additional 1,062 shares during the period. Two Point Capital Management Inc. bought a new stake in shares of Stryker during the second quarter valued at about $7,281,000. Finally, King Luther Capital Management Corp raised its stake in shares of Stryker by 7.9% in the 2nd quarter. King Luther Capital Management Corp now owns 447,479 shares of the medical technology company’s stock worth $177,036,000 after buying an additional 32,682 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Up 2.2%

SYK stock opened at $368.35 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. The stock has a market capitalization of $140.87 billion, a price-to-earnings ratio of 48.79, a PEG ratio of 2.66 and a beta of 0.94. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The business’s fifty day moving average price is $369.38 and its two-hundred day moving average price is $380.68.

Stryker (NYSE:SYK) last issued its quarterly 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 23.94% and a net margin of 12.25%.The company had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $6.04 billion. During the same quarter last year, the business earned $2.87 earnings per share. Stryker’s revenue was up 10.2% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. On average, equities analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SYK. Wells Fargo & Company lifted their price target on Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Stryker in a research note on Monday, November 3rd. Truist Financial boosted their price target on Stryker from $392.00 to $400.00 and gave the company a “hold” rating in a research note on Friday, November 14th. Barclays raised their price objective on shares of Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Finally, Rothschild & Co Redburn began coverage on shares of Stryker in a research note on Thursday, September 18th. They set a “neutral” rating and a $420.00 price target for the company. Thirteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $434.37.

Insider Buying and Selling

In other Stryker news, insider Viju Menon sold 500 shares of the company’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $390.61, for a total value of $195,305.00. Following the sale, the insider owned 12,511 shares in the company, valued at approximately $4,886,921.71. The trade was a 3.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Preston Wendell Wells sold 165 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $365.88, for a total transaction of $60,370.20. Following the sale, the chief financial officer directly owned 6,694 shares in the company, valued at $2,449,200.72. This trade represents a 2.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 522,618 shares of company stock valued at $185,577,237. Company insiders own 5.90% of the company’s stock.

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.