Bahl & Gaynor Inc. Has $107.33 Million Position in Stryker Corporation $SYK

Key Points

• Bahl & Gaynor Inc. has reduced its stake in Stryker Corporation by 3.1%, bringing its holdings down to 288,316 shares, worth approximately $107.3 million.
• Insider Ronda E. Stryker sold 200,000 shares of Stryker stock for about $75.3 million, resulting in a 5.84% decrease in her ownership.
• Stryker's quarterly earnings exceeded expectations, with an EPS of $3.13 and revenues of $6.02 billion, marking an 11.1% year-over-year increase.

Bahl & Gaynor Inc. lowered its position in Stryker Corporation (NYSE:SYK - Free Report) by 3.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 288,316 shares of the medical technology company's stock after selling 9,361 shares during the period. Bahl & Gaynor Inc. owned 0.08% of Stryker worth $107,326,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Capital A Wealth Management LLC bought a new position in shares of Stryker in the fourth quarter valued at approximately $26,000. Goodman Advisory Group LLC bought a new position in shares of Stryker in the first quarter valued at approximately $32,000. City Holding Co. raised its stake in shares of Stryker by 528.6% in the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after acquiring an additional 74 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new position in shares of Stryker in the first quarter valued at approximately $40,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Stryker in the fourth quarter valued at approximately $42,000. Institutional investors own 77.09% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on SYK shares. Evercore ISI raised their price target on shares of Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Needham & Company LLC raised their price target on shares of Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a report on Friday, August 1st. Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Citigroup reissued a "buy" rating and issued a $455.00 price target (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Finally, Roth Mkm raised their price target on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Fifteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $430.10.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction on Wednesday, August 6th. The shares were 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 of the company's stock, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.20% of the stock is currently owned by corporate insiders.

Stryker Trading Down 0.2%

SYK traded down $0.96 during trading on Wednesday, reaching $393.37. 648,819 shares of the company's stock were exchanged, compared to its average volume of 1,423,767. The company's fifty day moving average price is $388.21 and its 200-day moving average price is $379.35. 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 fifty-two week low of $329.16 and a fifty-two week high of $406.19. The firm has a market capitalization of $150.39 billion, a PE ratio of 52.10, a P/E/G ratio of 2.84 and a beta of 0.91.

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

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend 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%.

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.