Amundi Sells 23,395 Shares of Stryker Corporation $SYK

Key Points

• Amundi has decreased its stake in Stryker Corporation by 2.9%, selling 23,395 shares during the first quarter and now owning approximately $288.64 million in stock.
• Stryker recently received numerous rating upgrades from analysts, with Wall Street Zen changing its rating from "hold" to "buy" and Wells Fargo increasing their price target from $435.00 to $445.00.
• Stryker announced a quarterly dividend of $0.84, set to be paid to stockholders on October 31, which represents a 0.9% dividend yield.

Amundi reduced its stake in Stryker Corporation (NYSE:SYK - Free Report) by 2.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 784,039 shares of the medical technology company's stock after selling 23,395 shares during the quarter. Amundi owned approximately 0.21% of Stryker worth $288,644,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SYK. Vanguard Group Inc. boosted its stake in Stryker by 1.1% in the first 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 in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Stryker by 9.2% during the first 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 acquiring an additional 1,021,496 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Stryker by 13.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company's stock valued at $838,640,000 after acquiring an additional 261,058 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Stryker by 43,226.8% during the first quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock valued at $772,390,000 after acquiring an additional 2,070,133 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Stryker by 1.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,015,374 shares of the medical technology company's stock worth $750,223,000 after purchasing an additional 30,329 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Price Performance

Shares of NYSE SYK traded down $2.32 during trading on Friday, hitting $392.02. The company had a trading volume of 1,094,061 shares, compared to its average volume of 1,050,233. The business's 50-day moving average is $389.52 and its 200 day moving average is $379.56. 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 Corporation has a 52 week low of $329.16 and a 52 week high of $406.19. The company has a market cap of $149.87 billion, a P/E ratio of 51.92, a PEG ratio of 2.85 and a beta of 0.93.

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 the consensus estimate of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. During the same period in the previous year, the business earned $2.81 EPS. The company's revenue was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Equities research analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently declared 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. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker's dividend payout ratio is 44.50%.

Insider Buying and Selling

In other news, 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 transaction, the insider directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $75,290,000.00. Following the transaction, the director owned 3,222,108 shares of the company's stock, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on SYK. BTIG Research reissued a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Truist Financial set a $415.00 price objective on Stryker and gave the stock a "hold" rating in a research note on Monday, August 4th. Wells Fargo & Company lifted their target price on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Citigroup reissued a "buy" rating and set a $455.00 target price (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Finally, Needham & Company LLC lifted their target price on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Fifteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Stryker has a consensus rating of "Moderate Buy" and a consensus price target of $430.10.

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.