Great Lakes Advisors LLC Cuts Stake in Stryker Corporation $SYK

Key Points

• Great Lakes Advisors LLC reduced its ownership in Stryker Corporation by 55.9%, selling 11,776 shares and now holding 9,294 shares worth approximately $3.46 million.
• Stryker's recent quarterly earnings report exceeded expectations with an EPS of $3.13, surpassing the consensus estimate of $3.07, while revenue reached $6.02 billion.
• The company declared a quarterly dividend of $0.84 per share, which will be issued to shareholders on October 31st, representing an annualized yield of 0.9%.

Great Lakes Advisors LLC reduced its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 55.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,294 shares of the medical technology company's stock after selling 11,776 shares during the period. Great Lakes Advisors LLC's holdings in Stryker were worth $3,460,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC acquired a new position in shares of Stryker in the 4th quarter valued at $26,000. Goodman Advisory Group LLC acquired a new position in Stryker in the first quarter valued at about $32,000. City Holding Co. increased its position in shares of Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after acquiring an additional 74 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Stryker in the 1st quarter valued at approximately $40,000. Finally, IMA Advisory Services Inc. acquired a new position in shares of Stryker in the 1st quarter worth approximately $46,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Stock Down 2.4%

Shares of NYSE:SYK opened at $383.22 on Thursday. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The firm's 50 day moving average price is $389.22 and its 200 day moving average price is $379.70. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The stock has a market cap of $146.51 billion, a price-to-earnings ratio of 50.76, a price-to-earnings-growth ratio of 2.86 and a beta of 0.93.

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

Stryker Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SYK shares. Needham & Company LLC lifted their target price on shares of Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a report on Friday, August 1st. Citigroup reiterated a "buy" rating and issued a $455.00 price objective (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. BTIG Research restated a "buy" rating on shares of Stryker in a report on Monday, July 14th. Truist Financial set a $415.00 price target on shares of Stryker and gave the stock a "hold" rating in a research report on Monday, August 4th. Finally, Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $431.42.

Insider Activity

In related news, insider Viju Menon sold 500 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $390.61, for a total value of $195,305.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred 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 transaction, the director owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. 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.

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