Stryker Corporation $SYK Shares Sold by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC reduced its stake in Stryker Corporation by 4.2%, leaving them with 109,747 shares valued at approximately $40.85 million.
• Insider Ronda E. Stryker sold 200,000 shares for about $75.29 million, decreasing her ownership stake in the company by 5.84%.
• Research analysts have set a range of price targets for Stryker, with the average target around $430.10, reflecting a consensus rating of "Moderate Buy".

Gabelli Funds LLC reduced its stake in Stryker Corporation (NYSE:SYK - Free Report) by 4.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 109,747 shares of the medical technology company's stock after selling 4,777 shares during the quarter. Gabelli Funds LLC's holdings in Stryker were worth $40,853,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in SYK. Continuum Advisory LLC grew its position in shares of Stryker by 5.8% in the first quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company's stock valued at $198,000 after purchasing an additional 29 shares during the last quarter. Oakworth Capital Inc. lifted its position in Stryker by 0.5% in the 1st quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock valued at $2,283,000 after acquiring an additional 29 shares in the last quarter. Strategy Asset Managers LLC lifted its position in Stryker by 1.4% in the 1st quarter. Strategy Asset Managers LLC now owns 2,134 shares of the medical technology company's stock valued at $794,000 after acquiring an additional 29 shares in the last quarter. Tritonpoint Wealth LLC increased its holdings in Stryker by 0.7% during the first quarter. Tritonpoint Wealth LLC now owns 4,042 shares of the medical technology company's stock worth $1,508,000 after buying an additional 30 shares during the last quarter. Finally, Monetary Management Group Inc. increased its stake in shares of Stryker by 0.4% during the 1st quarter. Monetary Management Group Inc. now owns 7,668 shares of the medical technology company's stock worth $2,854,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on SYK shares. JMP Securities reissued a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Citigroup restated a "buy" rating and set a $455.00 price objective (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Needham & Company LLC increased their price objective on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a report on Monday, May 5th. Finally, Wells Fargo & Company boosted 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. Fifteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $430.10.

Stryker Stock Performance

Shares of NYSE:SYK traded up $1.81 during trading on Friday, hitting $391.48. The company's stock had a trading volume of 672,496 shares, compared to its average volume of 1,416,819. The company has a 50-day moving average of $388.94 and a 200-day moving average of $379.43. The firm has a market cap of $149.67 billion, a price-to-earnings ratio of 51.85, a P/E/G ratio of 2.86 and a beta of 0.91. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. 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 (NYSE:SYK - Get Free Report) last issued its quarterly 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 return on equity of 23.94% and a net margin of 12.25%.The company had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same period last year, the company earned $2.81 earnings per share. Stryker's revenue was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, sell-side analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

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

Insiders Place Their Bets

In related news, insider Viju Menon sold 500 shares of the firm's stock in a transaction that occurred 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. This trade represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the business'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 in the company, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.90% 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.