Harvest Portfolios Group Inc. Sells 1,365 Shares of Stryker Corporation $SYK

Key Points

• Harvest Portfolios Group Inc. decreased its stake in Stryker Corporation by 1.0% in Q1, holding 141,281 shares worth approximately $52.6 million.
• Stryker reported a quarterly earnings per share of $3.13, surpassing analysts' expectations, with revenues of $6.02 billion for the quarter, a year-over-year increase of 11.1%.
• The company declared a quarterly dividend of $0.84 per share, reflecting an annualized yield of 0.9%, with the dividend payment scheduled for October 31st.

Harvest Portfolios Group Inc. trimmed its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 1.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 141,281 shares of the medical technology company's stock after selling 1,365 shares during the period. Stryker makes up 1.6% of Harvest Portfolios Group Inc.'s portfolio, making the stock its 21st biggest holding. Harvest Portfolios Group Inc.'s holdings in Stryker were worth $52,592,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Capital A Wealth Management LLC bought a new position in shares of Stryker during the 4th quarter worth about $26,000. Goodman Advisory Group LLC bought a new stake in shares of Stryker in the first quarter valued at about $32,000. City Holding Co. grew its position in Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after buying an additional 74 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new position in Stryker during the first quarter valued at about $40,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Stryker in the 4th quarter valued at approximately $42,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Trading Up 0.5%

SYK stock traded up $1.81 during midday trading on Friday, hitting $391.48. 672,496 shares of the company's stock were exchanged, compared to its average volume of 1,416,819. The stock's fifty day moving average price is $388.94 and its 200-day moving average price is $379.43. Stryker Corporation has a one year low of $329.16 and a one year high of $406.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The company has a market cap of $149.67 billion, a PE ratio of 51.85, a price-to-earnings-growth ratio of 2.86 and a beta of 0.91.

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

Stryker Dividend Announcement

The business 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 of this dividend is Tuesday, September 30th. Stryker's payout ratio is currently 44.50%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SYK. Citigroup restated a "buy" rating and set a $455.00 price objective (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. JMP Securities reissued a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Roth Mkm increased their price objective on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a research note on Monday, May 5th. Finally, 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. Fifteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $430.10.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Viju Menon sold 500 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the transaction, the insider owned 12,511 shares of the company's stock, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.