Apollon Wealth Management LLC Sells 16,099 Shares of Stryker Corporation $SYK

Key Points

• Apollon Wealth Management cut its Stryker stake by 62.2% in the first quarter, selling 16,099 shares and leaving it with 9,787 shares worth about $3.22 million.
• Stryker’s latest earnings missed estimates, posting $2.60 EPS versus $2.98 expected and revenue of $6.02 billion versus $6.34 billion expected, though revenue still rose 2.6% year over year.
• The company also announced a quarterly dividend of $0.88 per share, payable July 31, and analysts currently rate the stock a Moderate Buy with an average price target of $395.33.

Apollon Wealth Management LLC trimmed its position in Stryker Corporation (NYSE:SYK - Free Report) by 62.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,787 shares of the medical technology company's stock after selling 16,099 shares during the period. Apollon Wealth Management LLC's holdings in Stryker were worth $3,216,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Sankala Group LLC purchased a new stake in Stryker during the 4th quarter valued at about $26,000. United Financial Planning Group LLC bought a new position in shares of Stryker in the third quarter worth approximately $27,000. Godfrey Financial Associates Inc. bought a new position in shares of Stryker in the fourth quarter worth approximately $26,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Stryker during the fourth quarter valued at approximately $27,000. Finally, Strive Asset Management LLC purchased a new stake in shares of Stryker during the third quarter valued at approximately $30,000. Institutional investors own 77.09% of the company's stock.

Stryker Stock Performance

Shares of SYK opened at $314.81 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.11 and a quick ratio of 1.25. Stryker Corporation has a one year low of $281.00 and a one year high of $404.87. The firm has a market capitalization of $120.69 billion, a P/E ratio of 36.44, a PEG ratio of 2.12 and a beta of 0.78. The business has a fifty day moving average of $310.38 and a 200 day moving average of $339.43.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Thursday, April 30th. The medical technology company reported $2.60 earnings per share for the quarter, missing analysts' consensus estimates of $2.98 by ($0.38). The firm had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $6.34 billion. Stryker had a net margin of 13.20% and a return on equity of 23.42%. The firm's revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.84 EPS. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. As a group, sell-side analysts anticipate that Stryker Corporation will post 14.98 EPS for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Stryker's payout ratio is 40.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Stryker from $456.00 to $418.00 and set an "overweight" rating for the company in a report on Friday, May 1st. Weiss Ratings downgraded Stryker from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, May 4th. The Goldman Sachs Group reissued a "neutral" rating and issued a $361.00 target price on shares of Stryker in a report on Friday, May 1st. Citigroup decreased their price target on Stryker from $420.00 to $385.00 and set a "buy" rating for the company in a research note on Tuesday, April 7th. Finally, Barclays lowered their price target on Stryker from $469.00 to $394.00 and set an "overweight" rating on the stock in a report on Monday, May 4th. Sixteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $395.33.

Insider Activity at Stryker

In other Stryker news, VP M Kathryn Fink sold 3,500 shares of the company's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $283.45, for a total transaction of $992,075.00. Following the completion of the sale, the vice president directly owned 177 shares of the company's stock, valued at approximately $50,170.65. This represents a 95.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 310,000 shares of Stryker stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $312.23, for a total transaction of $96,791,300.00. Following the transaction, the director owned 1,924,880 shares in the company, valued at $601,005,282.40. This represents a 13.87% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 323,264 shares of company stock worth $100,659,489. 4.60% of the stock is owned by company insiders.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons' offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.

Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Corporation (NYSE:SYK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.