Dimensional Fund Advisors LP Cuts Stock Holdings in Stryker Corporation $SYK

Key Points

• Dimensional Fund Advisors LP reduced its stock holdings in Stryker Corporation by 0.2%, holding approximately 826,282 shares worth $307.5 million after selling 2,021 shares in the 1st quarter.
• Stryker recently reported earnings of $3.13 per share for the quarter, exceeding analysts' expectations, along with a revenue of $6.02 billion, which is an 11.1% increase from the previous year.
• The company announced a quarterly dividend of $0.84, which will be paid on October 31, reflecting a 0.9% dividend yield and a payout ratio of 44.50%.

Dimensional Fund Advisors LP trimmed its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 0.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 826,282 shares of the medical technology company's stock after selling 2,021 shares during the period. Dimensional Fund Advisors LP owned 0.22% of Stryker worth $307,524,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SYK. Brighton Jones LLC grew its stake in Stryker by 15.4% during the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock valued at $1,643,000 after acquiring an additional 609 shares in the last quarter. Guggenheim Capital LLC lifted its position in Stryker by 7.0% during the fourth quarter. Guggenheim Capital LLC now owns 7,579 shares of the medical technology company's stock valued at $2,729,000 after purchasing an additional 499 shares during the last quarter. Forum Financial Management LP lifted its position in Stryker by 31.7% during the fourth quarter. Forum Financial Management LP now owns 2,455 shares of the medical technology company's stock valued at $884,000 after purchasing an additional 591 shares during the last quarter. Norinchukin Bank The lifted its position in Stryker by 8.8% during the fourth quarter. Norinchukin Bank The now owns 15,260 shares of the medical technology company's stock valued at $5,494,000 after purchasing an additional 1,228 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its position in Stryker by 1.6% during the fourth quarter. MetLife Investment Management LLC now owns 95,883 shares of the medical technology company's stock valued at $34,523,000 after purchasing an additional 1,500 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SYK has been the subject of several research reports. Evercore ISI increased 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 upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Truist Financial set a $415.00 price objective on shares of Stryker and gave the company a "hold" rating in a research report on Monday, August 4th. Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a research report on Monday, May 5th. Finally, Needham & Company LLC increased 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. Fifteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company 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 the firm's stock in a transaction dated 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 transaction, the director 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.20% of the stock is owned by corporate insiders.

Stryker Trading Up 2.2%

Shares of Stryker stock traded up $8.3540 during trading on Tuesday, hitting $389.9640. The stock had a trading volume of 1,691,504 shares, compared to its average volume of 1,344,400. The firm's fifty day simple moving average is $386.87 and its 200-day simple moving average is $379.45. The stock has a market cap of $149.09 billion, a PE ratio of 51.65, a PEG ratio of 2.77 and a beta of 0.91. 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 Corporation has a 12 month low of $329.16 and a 12 month high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping 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 net margin of 12.25% and a return on equity of 23.94%. The firm's revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, sell-side analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business 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 $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker's dividend payout ratio (DPR) is currently 44.50%.

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.