Carderock Capital Management Inc. Lowers Holdings in Stryker Corporation $SYK

Key Points

• Carderock Capital Management Inc. reduced its stake in Stryker Corporation by 17.3%, selling 4,027 shares to now hold 19,282 shares, worth approximately $7.63 million.
• Stryker reported better-than-expected quarterly earnings of $3.13 per share, surpassing analysts' estimates by $0.06, alongside a revenue increase of 11.1% year-over-year.
• The company has announced a quarterly dividend of $0.84 per share, with a yield of 0.9%, to be paid to shareholders on October 31st.

Carderock Capital Management Inc. lessened its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 17.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,282 shares of the medical technology company's stock after selling 4,027 shares during the quarter. Stryker comprises 2.0% of Carderock Capital Management Inc.'s investment portfolio, making the stock its 26th largest position. Carderock Capital Management Inc.'s holdings in Stryker were worth $7,629,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Capital A Wealth Management LLC bought a new stake in Stryker in the fourth quarter valued at approximately $26,000. Goodman Advisory Group LLC bought a new position in shares of Stryker during the first quarter valued at approximately $32,000. City Holding Co. raised its holdings in shares of Stryker by 528.6% during 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 in the last quarter. Ransom Advisory Ltd purchased a new stake in Stryker in the first quarter worth $37,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in Stryker in the first quarter worth $40,000. Institutional investors own 77.09% of the company's stock.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the completion of the transaction, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Viju Menon sold 500 shares of the business's stock in a transaction 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 transaction, 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 disclosure for this sale can be found here. 5.20% of the stock is currently owned by insiders.

Stryker Stock Performance

Shares of SYK stock traded up $1.86 during trading hours on Monday, reaching $378.69. 783,253 shares of the company traded hands, compared to its average volume of 1,387,892. The firm has a 50-day moving average price of $387.52 and a 200 day moving average price of $379.05. The company has a market cap of $144.78 billion, a P/E ratio of 50.16, a P/E/G ratio of 2.71 and a beta of 0.93. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06.

Stryker (NYSE:SYK - Get Free Report) last issued 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. The company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, sell-side analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be issued a $0.84 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. Stryker's payout ratio is 44.50%.

Analysts Set New Price Targets

Several brokerages recently weighed in on SYK. Redburn Partners set a $420.00 price target on Stryker in a research note on Thursday. Rothschild & Co Redburn initiated coverage on Stryker in a research note on Thursday. They issued a "neutral" rating and a $420.00 target price on the stock. Needham & Company LLC increased their target price on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Wall Street Zen raised Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Finally, Evercore ISI increased their target price on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Fourteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.