Allspring Global Investments Holdings LLC Lowers Stock Position in Stryker Corporation $SYK

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in Stryker Corporation by 10.9% during Q2, selling 4,723 shares, which leaves them with a total of 38,645 shares valued at approximately $15.33 million.
• Insider activity includes significant sales, with Director Ronda E. Stryker selling 200,000 shares for about $75.29 million, indicating a 5.84% decrease in her position.
• Stryker announced a quarterly dividend of $0.84 per share, which will be paid on October 31, representing an annual yield of 0.9%.

Allspring Global Investments Holdings LLC reduced its position in Stryker Corporation (NYSE:SYK - Free Report) by 10.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 38,645 shares of the medical technology company's stock after selling 4,723 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Stryker were worth $15,332,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in SYK. Mar Vista Investment Partners LLC raised its holdings in shares of Stryker by 10.2% in the 1st quarter. Mar Vista Investment Partners LLC now owns 90,187 shares of the medical technology company's stock worth $33,572,000 after purchasing an additional 8,353 shares during the period. United Services Automobile Association acquired a new stake in Stryker during the 1st quarter worth approximately $2,857,000. AXS Investments LLC lifted its position in Stryker by 13.7% during the first quarter. AXS Investments LLC now owns 8,827 shares of the medical technology company's stock valued at $3,286,000 after buying an additional 1,062 shares in the last quarter. Park Edge Advisors LLC purchased a new stake in Stryker during the second quarter worth approximately $679,000. Finally, Hendley & Co. Inc. grew its stake in Stryker by 60.3% during the second 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 period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Viju Menon sold 500 shares of the business's stock in a transaction dated 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 approximately $4,886,921.71. The trade was a 3.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the transaction, the director directly owned 3,222,108 shares in the company, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Stryker Trading Up 1.5%

Shares of SYK opened at $374.67 on Friday. Stryker Corporation has a one year low of $329.16 and a one year high of $406.19. The stock has a 50-day moving average price of $379.40 and a 200 day moving average price of $378.77. 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 company has a market capitalization of $143.24 billion, a P/E ratio of 49.63, a P/E/G ratio of 2.66 and a beta of 0.94.

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

Stryker Dividend Announcement

The business 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 (DPR) is currently 44.50%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Rothschild & Co Redburn assumed coverage on shares of Stryker in a report on Thursday, September 18th. They set a "neutral" rating and a $420.00 target price on the stock. BTIG Research boosted their price objective on Stryker from $407.00 to $408.00 and gave the stock a "buy" rating in a research note on Monday. Needham & Company LLC raised their target price on Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a report on Friday, August 1st. Truist Financial dropped their target price on Stryker from $415.00 to $407.00 and set a "hold" rating on the stock in a report on Wednesday. Finally, Rothschild Redb upgraded Stryker to a "hold" rating in a report on Thursday, September 18th. Fifteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $431.76.

Stryker 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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