GLOBALT Investments LLC GA Sells 876 Shares of Stryker Corporation $SYK

Key Points

• GLOBALT Investments LLC reduced its stake in Stryker Corporation by 4.6%, selling 876 shares to hold a total of 18,198 shares worth $7,200,000.
• Several institutional investors have increased their positions in Stryker, including Mar Vista Investment Partners, which boosted its stake by 10.2% to own 90,187 shares valued at $33,572,000.
• Stryker announced a quarterly dividend of $0.84, with a yield of 0.9%, which is set to be paid on October 31st to investors on record as of September 30th.

GLOBALT Investments LLC GA cut its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 4.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,198 shares of the medical technology company's stock after selling 876 shares during the quarter. GLOBALT Investments LLC GA's holdings in Stryker were worth $7,200,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SYK. Mar Vista Investment Partners LLC boosted its stake in shares of Stryker by 10.2% during the first quarter. Mar Vista Investment Partners LLC now owns 90,187 shares of the medical technology company's stock valued at $33,572,000 after purchasing an additional 8,353 shares in the last quarter. United Services Automobile Association purchased a new stake in Stryker during the first quarter worth $2,857,000. AXS Investments LLC boosted its position in Stryker by 13.7% during the 1st quarter. AXS Investments LLC now owns 8,827 shares of the medical technology company's stock valued at $3,286,000 after acquiring an additional 1,062 shares in the last quarter. Park Edge Advisors LLC purchased a new position in shares of Stryker in the 2nd quarter valued at $679,000. Finally, Hendley & Co. Inc. raised its position in shares of Stryker by 60.3% in the 2nd quarter. Hendley & Co. Inc. now owns 14,018 shares of the medical technology company's stock worth $5,546,000 after acquiring an additional 5,274 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SYK shares. Barclays lifted their target price on Stryker from $443.00 to $453.00 and gave the company an "overweight" rating in a research note on Wednesday. Rothschild & Co Redburn assumed coverage on shares of Stryker in a report on Thursday, September 18th. They issued a "neutral" rating and a $420.00 price target on the stock. Truist Financial reduced their price objective on shares of Stryker from $415.00 to $407.00 and set a "hold" rating for the company in a research note on Wednesday, October 15th. Rothschild Redb raised shares of Stryker to a "hold" rating in a research report on Thursday, September 18th. Finally, Wells Fargo & Company lifted their price target 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 research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, Stryker has a consensus rating of "Moderate Buy" and an average price target of $432.24.

Stryker Stock Performance

Shares of Stryker stock opened at $383.40 on Friday. The company has a 50 day moving average price of $379.84 and a 200 day moving average price of $379.42. The firm has a market capitalization of $146.58 billion, a P/E ratio of 50.78, a PEG ratio of 2.80 and a beta of 0.94. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data 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. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same period in the previous year, the firm posted $2.81 earnings per share. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Sell-side analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company 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 $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 dividend payout ratio is currently 44.50%.

Insider Activity at Stryker

In other news, insider Viju Menon sold 500 shares of the company'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 directly owned 12,511 shares of the company's stock, valued at $4,886,921.71. This represents a 3.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of the firm'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 transaction, the director directly owned 3,222,108 shares of the company's stock, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by corporate insiders.

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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