Laffer Tengler Investments Inc. Sells 1,874 Shares of Stryker Corporation $SYK

Key Points

• Laffer Tengler Investments Inc. reduced its stake in Stryker Corporation (NYSE:SYK) by 25.4%, selling 1,874 shares, and now holds 5,490 shares valued at approximately $2.04 million.
• In the first quarter, several other investors, including Continuum Advisory LLC and Oakworth Capital Inc., made adjustments to their holdings in Stryker, reflecting ongoing interest from institutional investors who own 77.09% of the company's stock.
• Stryker reported a net margin of 12.25% and quarterly revenue of $6.02 billion, surpassing analysts' expectations, and announced a dividend of $0.84 per share payable on October 31st.

Laffer Tengler Investments Inc. reduced its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 25.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 5,490 shares of the medical technology company's stock after selling 1,874 shares during the period. Laffer Tengler Investments Inc.'s holdings in Stryker were worth $2,044,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of SYK. Continuum Advisory LLC increased its position in shares of Stryker by 5.8% during the 1st 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. boosted its stake in Stryker by 0.5% in the first quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock worth $2,283,000 after buying an additional 29 shares in the last quarter. Strategy Asset Managers LLC grew its position in Stryker by 1.4% during the first 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 during the last quarter. Rinkey Investments raised its stake in shares of Stryker by 1.1% during the fourth quarter. Rinkey Investments now owns 2,712 shares of the medical technology company's stock worth $976,000 after acquiring an additional 30 shares in the last quarter. Finally, Tritonpoint Wealth LLC boosted its stake in shares of Stryker by 0.7% in the 1st quarter. Tritonpoint Wealth LLC now owns 4,042 shares of the medical technology company's stock valued at $1,508,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 77.09% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SYK shares. Wells Fargo & Company lifted their target price on shares of Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research 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. Sanford C. Bernstein set a $450.00 price target on Stryker in a research report on Monday, May 5th. Finally, JMP Securities reiterated a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Fifteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $430.10.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred on 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 owned 3,222,108 shares of the company's stock, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.90% of the company's stock.

Stryker Price Performance

SYK opened at $384.6550 on Friday. 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 stock has a market capitalization of $147.06 billion, a PE ratio of 50.95, a price-to-earnings-growth ratio of 2.85 and a beta of 0.91. The stock's 50 day moving average price is $387.17 and its 200-day moving average price is $379.49. 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 issued its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $5.92 billion. During the same period in the previous year, the firm earned $2.81 EPS. The company's quarterly 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, equities research analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company also recently announced 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. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. Stryker's dividend payout ratio is 44.50%.

About Stryker

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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