Campbell Newman Asset Management Inc. Lowers Holdings in Stryker Corporation $SYK

Key Points

• Campbell Newman Asset Management Inc. reduced its holdings in Stryker Corporation by 3.7%, now owning 102,951 shares valued at approximately $40.7 million, making Stryker its 8th largest position.
• Stryker has reported strong quarterly earnings, with $3.13 earnings per share and revenue of $6.02 billion, surpassing analysts' expectations and reflecting an 11.1% year-over-year growth.
• The company has declared a quarterly dividend of $0.84, with an annualized yield of 0.9%, scheduled for payment on October 31st to shareholders of record on September 30th.

Campbell Newman Asset Management Inc. reduced its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 3.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,951 shares of the medical technology company's stock after selling 3,992 shares during the quarter. Stryker comprises 3.2% of Campbell Newman Asset Management Inc.'s investment portfolio, making the stock its 8th biggest position. Campbell Newman Asset Management Inc.'s holdings in Stryker were worth $40,731,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Goodman Advisory Group LLC purchased a new stake in shares of Stryker during the first quarter worth $32,000. City Holding Co. raised its stake in shares of Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after purchasing an additional 74 shares during the period. Ridgewood Investments LLC raised its stake in shares of Stryker by 48.4% during the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company's stock valued at $36,000 after purchasing an additional 30 shares during the period. Ransom Advisory Ltd purchased a new stake in Stryker during the 1st quarter worth about $37,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in Stryker during the 1st quarter valued at about $40,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Stock Performance

Shares of SYK stock opened at $369.02 on Tuesday. The business has a 50-day moving average price of $385.33 and a two-hundred day moving average price of $379.18. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The firm has a market cap of $141.08 billion, a P/E ratio of 48.88, a price-to-earnings-growth ratio of 2.66 and a beta of 0.93.

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

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a $0.84 dividend. 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 44.50%.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the firm's 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 of the company's stock, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 directly owned 12,511 shares of the company's stock, valued at approximately $4,886,921.71. This trade represents a 3.84% decrease in their position. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SYK. Truist Financial set a $415.00 price target on shares of Stryker and gave the stock a "hold" rating in a report on Monday, August 4th. Evercore ISI increased their target price on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Needham & Company LLC boosted their price target on shares of Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Rothschild & Co Redburn assumed coverage on shares of Stryker in a report on Thursday, September 18th. They issued a "neutral" rating and a $420.00 price target on the stock. Finally, Rothschild Redb raised Stryker to a "hold" rating in a research note on Thursday, September 18th. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $430.33.

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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