Chesley Taft & Associates LLC Has $56.70 Million Stake in Stryker Corporation $SYK

Key Points

• Chesley Taft & Associates LLC reduced its stake in Stryker Corporation by 1.0%, holding 143,320 shares, valued at approximately $56.7 million, making this its 8th largest investment.
• Insider transactions included Viju Menon selling 500 shares and Ronda E. Stryker selling 200,000 shares, resulting in decreases in their shareholdings of 3.84% and 5.84%, respectively.
• Analysts have a consensus price target of $431.42 for Stryker's stock, with 14 analysts rating it a "Buy" and four rating it a "Hold."

Chesley Taft & Associates LLC lessened its position in Stryker Corporation (NYSE:SYK - Free Report) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 143,320 shares of the medical technology company's stock after selling 1,492 shares during the quarter. Stryker comprises about 2.5% of Chesley Taft & Associates LLC's investment portfolio, making the stock its 8th biggest position. Chesley Taft & Associates LLC's holdings in Stryker were worth $56,702,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital A Wealth Management LLC acquired a new position in shares of Stryker during the fourth quarter valued at about $26,000. Goodman Advisory Group LLC acquired a new position in shares of Stryker during the first quarter valued at about $32,000. City Holding Co. raised its position 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 buying an additional 74 shares during the last quarter. Ransom Advisory Ltd acquired a new position in shares of Stryker during the first quarter valued at about $37,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in shares of Stryker during the first quarter valued at about $40,000. Institutional investors own 77.09% of the company's stock.

Insider Buying and Selling

In related 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 transaction of $195,305.00. Following the completion of the sale, the insider directly owned 12,511 shares of the company's stock, valued at $4,886,921.71. The trade was a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Ronda E. Stryker sold 200,000 shares of the business'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 sale, 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 disclosure for this sale can be found here. Insiders own 5.90% of the company's stock.

Stryker Price Performance

Shares of SYK stock traded down $1.23 during trading hours on Friday, reaching $376.61. 1,924,253 shares of the company were exchanged, compared to its average volume of 934,259. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The stock's fifty day moving average is $387.52 and its two-hundred day moving average is $379.07. The company has a market cap of $143.98 billion, a price-to-earnings ratio of 49.88, a P/E/G ratio of 2.71 and a beta of 0.93. 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 announced its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $5.92 billion. During the same period in the prior year, the business earned $2.81 earnings per share. Stryker's quarterly revenue was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Sell-side analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be paid 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 payout ratio is 44.50%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SYK shares. Wells Fargo & Company upped their price objective on shares of Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Evercore ISI upped their price objective on shares of Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Rothschild & Co Redburn started coverage on shares of Stryker in a research report on Thursday. They set a "neutral" rating and a $420.00 price objective for the company. Finally, Needham & Company LLC upped their target price on shares of Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $430.33.

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.