Cyrus J. Lawrence LLC Reduces Stock Position in Stryker Corporation $SYK

Key Points

• Cyrus J. Lawrence LLC significantly reduced its stake in Stryker Corporation by 93.8% during the first quarter, now holding only 1,483 shares valued at $552,000.
• Stryker Corporation reported $3.13 EPS for the last quarter, exceeding the consensus estimate of $3.07, while revenue rose 11.1% year-over-year to $6.02 billion.
• The company declared a quarterly dividend of $0.84 per share, which is set to be paid on October 31, with a dividend yield of 0.9%.

Cyrus J. Lawrence LLC lessened its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 93.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,483 shares of the medical technology company's stock after selling 22,448 shares during the quarter. Stryker comprises about 2.1% of Cyrus J. Lawrence LLC's investment portfolio, making the stock its 23rd biggest holding. Cyrus J. Lawrence LLC's holdings in Stryker were worth $552,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Capital A Wealth Management LLC bought a new stake in Stryker during the fourth quarter valued at approximately $26,000. Goodman Advisory Group LLC purchased a new position in shares of Stryker in the first quarter worth $32,000. City Holding Co. lifted its holdings 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 worth $33,000 after buying an additional 74 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in shares of Stryker in the first quarter worth $40,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Stryker in the fourth quarter worth $42,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Stock Performance

Shares of Stryker stock opened at $391.48 on Friday. The firm has a market capitalization of $149.67 billion, a P/E ratio of 51.85, a PEG ratio of 2.85 and a beta of 0.91. 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 company has a 50 day moving average price of $389.26 and a 200 day moving average price of $379.39. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating the consensus estimate of $3.07 by $0.06. The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. Stryker's revenue was up 11.1% on a year-over-year basis. 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. Sell-side analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.84 per share. 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%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SYK. Wells Fargo & Company upped their price target on shares of Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Citigroup reiterated a "buy" rating and set a $455.00 price objective (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Evercore ISI boosted 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. Needham & Company LLC boosted their price objective 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. Finally, Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Fifteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Stryker presently has a consensus rating of "Moderate Buy" and an average price target of $430.10.

Insider Buying and Selling

In related 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 value of $75,290,000.00. Following the sale, the director 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 directly owned 12,511 shares in the company, valued at $4,886,921.71. This represents a 3.84% decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

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.

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