Corebridge Financial Inc. Has $35.97 Million Position in Stryker Corporation $SYK

Key Points

• Corebridge Financial Inc. reduced its stake in Stryker Corporation by 4.0% during the first quarter, now holding 96,637 shares valued at approximately $35.97 million.
• Director Ronda E. Stryker sold 200,000 shares of the company on August 6th, resulting in a transaction of $75.29 million, which decreased her position by 5.84%.
• Stryker Corporation's stock has a market cap of $150.55 billion, and reported $3.13 EPS in its last quarterly earnings, exceeding expectations.

Corebridge Financial Inc. lowered its position in Stryker Corporation (NYSE:SYK - Free Report) by 4.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 96,637 shares of the medical technology company's stock after selling 4,063 shares during the quarter. Corebridge Financial Inc.'s holdings in Stryker were worth $35,973,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in SYK. Brighton Jones LLC increased its stake in shares of Stryker by 15.4% in the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock valued at $1,643,000 after purchasing an additional 609 shares during the period. Integrated Wealth Concepts LLC increased its stake in shares of Stryker by 10.9% during the fourth quarter. Integrated Wealth Concepts LLC now owns 6,240 shares of the medical technology company's stock valued at $2,247,000 after acquiring an additional 611 shares during the period. Lord Abbett & CO. LLC increased its stake in shares of Stryker by 51.3% during the fourth quarter. Lord Abbett & CO. LLC now owns 894 shares of the medical technology company's stock valued at $322,000 after acquiring an additional 303 shares during the period. Nebula Research & Development LLC increased its stake in shares of Stryker by 19.9% during the fourth quarter. Nebula Research & Development LLC now owns 2,920 shares of the medical technology company's stock valued at $1,051,000 after acquiring an additional 484 shares during the period. Finally, Coldstream Capital Management Inc. increased its stake in shares of Stryker by 3.7% during the fourth quarter. Coldstream Capital Management Inc. now owns 7,621 shares of the medical technology company's stock valued at $2,744,000 after acquiring an additional 273 shares during the period. Institutional investors and hedge funds own 77.09% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Truist Financial set a $415.00 price objective on shares of Stryker and gave the company a "hold" rating in a research note on Monday, August 4th. Needham & Company LLC raised their price objective 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. BTIG Research reiterated a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Roth Mkm raised their price objective on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Finally, Wells Fargo & Company lifted their price target on shares of Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Fifteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $430.10.

Insiders Place Their Bets

In other Stryker news, insider Viju Menon sold 500 shares of Stryker stock in a transaction 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 owned 12,511 shares of the company's stock, valued at $4,886,921.71. This trade represents a 3.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 sale, 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 position. The disclosure for this sale can be found here. Company insiders own 5.90% of the company's stock.

Stryker Trading Up 0.5%

Stryker stock traded up $1.81 during midday trading on Friday, reaching $391.48. The stock had a trading volume of 672,473 shares, compared to its average volume of 1,416,755. The firm's fifty day simple moving average is $388.94 and its two-hundred day simple moving average is $379.43. Stryker Corporation has a twelve month low of $329.16 and a twelve 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. The firm has a market cap of $149.67 billion, a price-to-earnings ratio of 51.85, a PEG ratio of 2.86 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 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 firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same quarter last year, the business posted $2.81 EPS. The company's revenue was up 11.1% on a year-over-year basis. 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors 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 yield of 0.9%. Stryker's dividend payout ratio (DPR) is currently 44.50%.

About Stryker

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.