Greenleaf Trust Has $6.60 Billion Stock Holdings in Stryker Corporation $SYK

Key Points

• Greenleaf Trust reduced its stake in Stryker Corporation by 2.5% during Q2, retaining 16,689,224 shares, which represents approximately 58.4% of its holdings.
• Stryker's recent earnings report showed a net margin of 12.25% and revenue of $6.02 billion, exceeding analysts' estimates.
• The company announced a quarterly dividend of $0.84 per share, with a yield of 0.9%, set to be paid on October 31st.

Greenleaf Trust trimmed its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 2.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,689,224 shares of the medical technology company's stock after selling 427,578 shares during the quarter. Stryker makes up approximately 58.4% of Greenleaf Trust's holdings, making the stock its largest position. Greenleaf Trust owned 4.37% of Stryker worth $6,602,758,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Goodman Advisory Group LLC bought a new position in Stryker in the first quarter worth $32,000. City Holding Co. grew its position in shares of Stryker by 528.6% in the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after buying an additional 74 shares during the period. Ridgewood Investments LLC increased its stake in shares of Stryker by 48.4% in the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company's stock worth $36,000 after acquiring an additional 30 shares in the last quarter. Ransom Advisory Ltd purchased a new position in Stryker during the 1st quarter valued at about $37,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in Stryker during the first quarter worth about $40,000. Institutional investors own 77.09% of the company's stock.

Analyst Ratings Changes

SYK has been the subject of a number of analyst reports. Needham & Company LLC raised their target price on shares of Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research note on Friday, August 1st. BTIG Research reiterated a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Truist Financial set a $415.00 target price on Stryker and gave the stock a "hold" rating in a research note on Monday, August 4th. Evercore ISI lifted their price target on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Finally, Rothschild & Co Redburn assumed coverage on shares of Stryker in a research note on Thursday, September 18th. They issued a "neutral" rating and a $420.00 price target on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $430.33.

Insiders Place Their Bets

In related news, insider Viju Menon sold 500 shares of Stryker 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 completion of the transaction, the insider owned 12,511 shares in the company, valued at $4,886,921.71. The trade was a 3.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was 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 of the company's stock, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their position. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by insiders.

Stryker Price Performance

Shares of NYSE SYK opened at $369.02 on Tuesday. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19. The business's 50 day moving average price is $385.33 and its 200 day moving average price is $379.18. 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 firm has a market cap of $141.08 billion, a P/E ratio of 48.88, a P/E/G ratio of 2.66 and a beta of 0.93.

Stryker (NYSE:SYK - Get Free Report) last issued its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (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 firm had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $5.92 billion. During the same quarter last year, the company posted $2.81 earnings per share. The firm'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. On average, sell-side analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a $0.84 dividend. 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 presently 44.50%.

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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