Destiny Wealth Partners LLC Sells 2,608 Shares of Stryker Corporation $SYK

Key Points

• Destiny Wealth Partners LLC decreased its stake in Stryker Corporation by 6.3%, selling 2,608 shares in the 2nd quarter, now holding a total of 38,818 shares valued at approximately $15.36 million.
• Insider selling includes Director Ronda E. Stryker, who sold 200,000 shares for about $75.29 million, decreasing her ownership by 5.84%.
• Stryker recently declared a quarterly dividend of $0.84 per share, with a dividend yield of 0.9%, set to be paid on October 31st.

Destiny Wealth Partners LLC cut its position in Stryker Corporation (NYSE:SYK - Free Report) by 6.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,818 shares of the medical technology company's stock after selling 2,608 shares during the quarter. Stryker comprises about 2.1% of Destiny Wealth Partners LLC's portfolio, making the stock its 11th biggest holding. Destiny Wealth Partners LLC's holdings in Stryker were worth $15,357,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Goodman Advisory Group LLC acquired a new position in shares of Stryker in the first quarter valued at about $32,000. City Holding Co. boosted its holdings in Stryker by 528.6% in 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 grew its position 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 worth $36,000 after purchasing an additional 30 shares in the last quarter. Ransom Advisory Ltd bought a new position in shares of Stryker during the first quarter worth approximately $37,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of Stryker in the first quarter valued at approximately $40,000. Institutional investors own 77.09% of the company's stock.

Insider Buying and Selling at Stryker

In other news, insider Viju Menon sold 500 shares of Stryker stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director directly owned 3,222,108 shares of the company's stock, valued at $1,212,962,556.60. This 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 Stock Down 0.7%

Shares of NYSE SYK opened at $368.64 on Friday. The company has a market cap of $140.93 billion, a price-to-earnings ratio of 48.83, a PEG ratio of 2.68 and a beta of 0.93. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The stock has a 50-day moving average price of $386.11 and a two-hundred day moving average price of $378.95.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly 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 analyst estimates of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The firm's revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently declared 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. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker's dividend payout ratio is presently 44.50%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Truist Financial set a $415.00 price target on Stryker and gave the stock a "hold" rating in a research report on Monday, August 4th. Rothschild Redb raised Stryker to a "hold" rating in a report on Thursday, September 18th. Evercore ISI raised their price target on Stryker from $390.00 to $415.00 and gave the stock 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. Finally, Redburn Partners set a $420.00 target price on shares of Stryker in a report on Thursday, September 18th. Fourteen equities research 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 company has a consensus rating of "Moderate Buy" and a consensus 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.

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