Aberdeen Group plc Lowers Position in Stryker Corporation $SYK

Key Points

• Aberdeen Group plc reduced its stake in Stryker Corporation by 1.1%, holding approximately 328,664 shares worth about $130 million following a sale of 3,622 shares during the second quarter.
• Stryker recently reported a quarterly earnings per share (EPS) of $3.13, exceeding analysts' expectations, with revenue of $6.02 billion, marking an 11.1% year-over-year increase.
• The company announced a quarterly dividend of $0.84 per share, representing an annualized payout of $3.36 and a dividend yield of 0.9%, with an ex-dividend date set for September 30th.

Aberdeen Group plc trimmed its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 1.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 328,664 shares of the medical technology company's stock after selling 3,622 shares during the period. Aberdeen Group plc owned about 0.09% of Stryker worth $130,029,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Sachetta LLC lifted its position 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 in the last quarter. Goodman Advisory Group LLC purchased a new stake in shares of Stryker in the first quarter worth about $32,000. Ridgewood Investments LLC lifted its position in shares of Stryker by 48.4% in the second quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company's stock worth $36,000 after buying an additional 30 shares in the last quarter. Ransom Advisory Ltd purchased a new stake in shares of Stryker in the first quarter worth about $37,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in shares of Stryker in the first quarter worth about $40,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Trading Down 1.5%

SYK opened at $364.77 on Friday. The stock has a market cap of $139.46 billion, a price-to-earnings ratio of 48.31, a P/E/G ratio of 2.67 and a beta of 0.94. The stock's 50 day moving average price is $380.25 and its 200-day moving average price is $378.75. Stryker Corporation has a one year low of $329.16 and a one year 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.

Stryker (NYSE:SYK - Get Free Report) last released its 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 firm had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The company's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, equities analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid 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 dividend yield of 0.9%. Stryker's dividend payout ratio is currently 44.50%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SYK. Wall Street Zen downgraded Stryker from a "buy" rating to a "hold" rating in a research report on Friday, September 26th. Evercore ISI decreased their target price on Stryker from $418.00 to $410.00 and set an "outperform" rating on the stock in a research report on Tuesday. Truist Financial set a $415.00 target price on Stryker and gave the stock a "hold" rating in a research report on Monday, August 4th. Rothschild & Co Redburn assumed coverage on Stryker in a research report on Thursday, September 18th. They issued a "neutral" rating and a $420.00 target price on the stock. Finally, Rothschild Redb raised Stryker to a "hold" rating in a research note on Thursday, September 18th. Fifteen research 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $430.10.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 200,000 shares of the business'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 completion of the sale, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Viju Menon sold 500 shares of the business's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the completion of the sale, the insider owned 12,511 shares of the company's stock, valued at $4,886,921.71. The trade was a 3.84% decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

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.

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