ERn Financial LLC Sells 1,610 Shares of Stryker Corporation $SYK

Key Points

• ERn Financial LLC reduced its stake in Stryker Corporation by 60.4%, selling 1,610 shares and now holds 1,055 shares worth $417,000.
• Stryker reported an EPS of $3.13 for the last quarter, beating expectations, with revenue of $6.02 billion, up 11.1% year-over-year.
• The company declared a quarterly dividend of $0.84 per share, with an ex-dividend date of September 30th and an annualized yield of 0.9%.

ERn Financial LLC decreased its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 60.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,055 shares of the medical technology company's stock after selling 1,610 shares during the period. ERn Financial LLC's holdings in Stryker were worth $417,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Rempart Asset Management Inc. lifted its position in shares of Stryker by 7.6% during the 2nd quarter. Rempart Asset Management Inc. now owns 55,531 shares of the medical technology company's stock worth $21,970,000 after buying an additional 3,942 shares during the period. Norris Perne & French LLP MI raised its stake in Stryker by 378.4% during the second quarter. Norris Perne & French LLP MI now owns 17,535 shares of the medical technology company's stock worth $6,937,000 after acquiring an additional 13,870 shares in the last quarter. Clean Yield Group lifted its holdings in shares of Stryker by 212.2% during the second quarter. Clean Yield Group now owns 14,361 shares of the medical technology company's stock valued at $5,682,000 after acquiring an additional 9,761 shares during the period. Investment Advisory Services Inc. TX ADV boosted its stake in shares of Stryker by 5.4% in the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 9,924 shares of the medical technology company's stock valued at $3,926,000 after purchasing an additional 505 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC grew its holdings in shares of Stryker by 1.0% in the 2nd quarter. Moody Lynn & Lieberson LLC now owns 87,798 shares of the medical technology company's stock worth $34,736,000 after purchasing an additional 861 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Stock Performance

Shares of NYSE:SYK opened at $368.83 on Monday. The business has a fifty day moving average of $385.71 and a 200-day moving average of $379.18. The firm has a market cap of $141.01 billion, a PE ratio of 48.85, a price-to-earnings-growth ratio of 2.66 and a beta of 0.93. 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 quick ratio of 1.06 and a current ratio of 1.78.

Stryker (NYSE:SYK - Get Free Report) last posted 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 business had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The firm's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, equities research analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a $0.84 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 annualized dividend and a yield of 0.9%. Stryker's dividend payout ratio (DPR) is currently 44.50%.

Insider Activity

In related news, insider Viju Menon sold 500 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $390.61, for a total value of $195,305.00. Following the transaction, the insider owned 12,511 shares in the company, valued at $4,886,921.71. This trade represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the transaction, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their position. The disclosure for this sale can be found here. 5.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SYK. Evercore ISI lifted their price target on shares of Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Wells Fargo & Company raised their price objective on shares of Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Wall Street Zen downgraded Stryker from a "buy" rating to a "hold" rating in a report on Friday. Truist Financial set a $415.00 price objective on Stryker and gave the company a "hold" rating in a research report on Monday, August 4th. Finally, Redburn Partners set a $420.00 target price on Stryker in a report on Thursday, September 18th. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average 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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