EFG Asset Management North America Corp. Sells 1,994 Shares of Stryker Corporation $SYK

Key Points

• EFG Asset Management North America Corp. sold 1,994 shares of Stryker Corporation, reducing its holdings by 23.7% to a total of 6,403 shares, valued at approximately $2.38 million.
• Stryker recently announced a quarterly dividend of $0.84 per share, with an annualized dividend yield of 0.9% and a payout ratio of 44.50%.
• The company's quarterly earnings report showed earnings per share of $3.13, exceeding estimates, along with a year-over-year revenue increase of 11.1% to $6.02 billion.

EFG Asset Management North America Corp. lowered its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 23.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,403 shares of the medical technology company's stock after selling 1,994 shares during the period. EFG Asset Management North America Corp.'s holdings in Stryker were worth $2,384,000 at the end of the most recent reporting period.

Other 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 in the 4th quarter worth approximately $26,000. Goodman Advisory Group LLC acquired a new position in shares of Stryker in the first quarter worth about $32,000. City Holding Co. boosted 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 during the period. Smallwood Wealth Investment Management LLC acquired a new position in shares of Stryker in the first quarter worth about $40,000. Finally, Cornerstone Planning Group LLC boosted its holdings in shares of Stryker by 46.0% in the first quarter. Cornerstone Planning Group LLC now owns 127 shares of the medical technology company's stock worth $45,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Stock Down 0.6%

NYSE SYK traded down $2.32 during trading on Friday, reaching $392.02. The company's stock had a trading volume of 1,094,061 shares, compared to its average volume of 1,050,233. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $149.87 billion, a PE ratio of 51.92, a PEG ratio of 2.85 and a beta of 0.93. The business has a 50-day moving average price of $389.52 and a 200-day moving average price of $379.56. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.07 by $0.06. The firm had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company's revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, research analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a $0.84 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. Stryker's payout ratio is 44.50%.

Insider Buying and Selling

In other news, insider Viju Menon sold 500 shares of the business's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the completion of the sale, the insider directly owned 12,511 shares in the company, valued at approximately $4,886,921.71. The trade was a 3.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction 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 completion of the sale, the director owned 3,222,108 shares of the company's stock, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Evercore ISI raised their target price on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. BTIG Research reiterated a "buy" rating on shares of Stryker in a report on Monday, July 14th. Needham & Company LLC raised their target price on shares of Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Finally, Citigroup restated a "buy" rating and set a $455.00 price target (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Fifteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $430.10.

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.