First Manhattan CO. LLC. Has $25.10 Million Position in Stryker Corporation $SYK

Key Points

• First Manhattan CO. LLC reduced its stake in Stryker Corporation (SYK) by 1.5%, holding 67,268 shares valued at approximately $25.1 million.
• The company's quarterly earnings reported earnings per share (EPS) of $3.13, surpassing the consensus estimate of $3.07, with a revenue increase of 11.1% year-over-year.
• Stryker announced a quarterly dividend of $0.84 per share, with an ex-dividend date of September 30, reflecting a yield of 0.9% and a payout ratio of 44.5%.

First Manhattan CO. LLC. reduced its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 67,268 shares of the medical technology company's stock after selling 996 shares during the quarter. First Manhattan CO. LLC.'s holdings in Stryker were worth $25,097,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in SYK. Brighton Jones LLC raised its position 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. AlTi Global Inc. raised its position in Stryker by 7.0% during the fourth quarter. AlTi Global Inc. now owns 1,538 shares of the medical technology company's stock valued at $558,000 after acquiring an additional 101 shares in the last quarter. AXA S.A. raised its position in Stryker by 12.0% during the fourth quarter. AXA S.A. now owns 128,242 shares of the medical technology company's stock valued at $46,174,000 after acquiring an additional 13,775 shares in the last quarter. BLI Banque de Luxembourg Investments bought a new position in Stryker during the fourth quarter valued at approximately $2,150,000. Finally, Benjamin Edwards Inc. raised its position in Stryker by 1.0% during the fourth quarter. Benjamin Edwards Inc. now owns 142,039 shares of the medical technology company's stock valued at $51,154,000 after acquiring an additional 1,363 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SYK has been the topic of several recent research reports. 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. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Evercore ISI raised their target price on shares of Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Needham & Company LLC lifted 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. Finally, BTIG Research reiterated a "buy" rating on shares of Stryker in a report on Monday, July 14th. Fifteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Stryker currently has a consensus rating of "Moderate Buy" and a consensus price target of $430.10.

Stryker Trading Up 0.5%

Shares of SYK stock opened at $391.48 on Monday. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19. The firm's fifty day simple moving average is $389.26 and its 200 day simple moving average is $379.33. The firm has a market capitalization of $149.67 billion, a P/E ratio of 51.85, a price-to-earnings-growth ratio of 2.85 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 (NYSE:SYK - Get Free Report) last announced its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same quarter in the previous year, the firm posted $2.81 earnings per share. Stryker's revenue was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, sell-side analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors 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 payout ratio is 44.50%.

Insider Buying and Selling at Stryker

In other Stryker 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 sale, the insider owned 12,511 shares of the company's stock, valued at $4,886,921.71. The trade was a 3.84% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were 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 directly owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The disclosure for this sale can be found here. Insiders own 5.20% of the company's stock.

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.

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