Stryker Corporation $SYK Shares Sold by Mechanics Bank Trust Department

Key Points

• Mechanics Bank Trust Department reduced its stake in Stryker Corporation by 12.2% in Q2, holding 8,132 shares valued at approximately $3.22 million after selling 1,125 shares.
• Stryker's stock has received a consensus rating of "Moderate Buy" from analysts, with a target price of $430.33, and the company reported a quarterly EPS of $3.13, exceeding estimates.
• The company declared a quarterly dividend of $0.84, with an annualized yield of 0.9%, set to be paid on October 31 to shareholders on record by September 30.

Mechanics Bank Trust Department trimmed its position in Stryker Corporation (NYSE:SYK - Free Report) by 12.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,132 shares of the medical technology company's stock after selling 1,125 shares during the quarter. Mechanics Bank Trust Department's holdings in Stryker were worth $3,217,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Sunflower Bank N.A. lifted its stake in Stryker by 4.0% during the 2nd quarter. Sunflower Bank N.A. now owns 696 shares of the medical technology company's stock valued at $275,000 after acquiring an additional 27 shares during the period. Continuum Advisory LLC raised its holdings in shares of Stryker by 5.8% during the first quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company's stock worth $198,000 after purchasing an additional 29 shares during the last quarter. Oakworth Capital Inc. lifted its position in Stryker by 0.5% during the first quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock valued at $2,283,000 after purchasing an additional 29 shares during the period. Strategy Asset Managers LLC raised 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 in the last quarter. Finally, Tritonpoint Wealth LLC boosted its position in Stryker by 0.7% in the 1st quarter. Tritonpoint Wealth LLC now owns 4,042 shares of the medical technology company's stock worth $1,508,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insider Buying and Selling at Stryker

In related news, insider Viju Menon sold 500 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $390.61, for a total transaction of $195,305.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of the 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 completion of the sale, 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. Corporate insiders own 5.20% of the company's stock.

Analyst Upgrades and Downgrades

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

Stryker Stock Performance

NYSE SYK traded up $1.87 on Monday, reaching $378.70. The stock had a trading volume of 2,095,205 shares, compared to its average volume of 985,669. The business's 50-day moving average price is $387.26 and its 200 day moving average price is $379.05. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The stock has a market cap of $144.78 billion, a P/E ratio of 50.16, a price-to-earnings-growth ratio of 2.71 and a beta of 0.93. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results 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. The company had revenue of $6.02 billion during the quarter, compared to analysts' expectations 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 last year, the business earned $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, equities analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given 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 dividend yield of 0.9%. Stryker's payout ratio is currently 44.50%.

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.