Stryker Corporation $SYK Stock Holdings Trimmed by MetLife Investment Management LLC

Key Points

• MetLife Investment Management LLC has reduced its holdings in Stryker Corporation by 1.7%, selling 1,672 shares, leaving them with 94,211 shares valued at approximately $35 million.
• Director Ronda E. Stryker sold 200,000 shares of the company for around $75.29 million, leading to a 5.84% decrease in her ownership of Stryker's stock.
• Stryker has reported a Q2 earnings per share (EPS) of $3.13, exceeding analyst expectations, with a projected EPS of 13.47 for the current year.

MetLife Investment Management LLC lowered its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,211 shares of the medical technology company's stock after selling 1,672 shares during the quarter. MetLife Investment Management LLC's holdings in Stryker were worth $35,070,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Capital A Wealth Management LLC acquired a new position in shares of Stryker during the fourth quarter valued at about $26,000. Goodman Advisory Group LLC acquired a new position in shares of Stryker during the first quarter valued at about $32,000. City Holding Co. increased its holdings 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 in the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in shares of 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 worth approximately $42,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. JMP Securities reiterated a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Evercore ISI increased their price target on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Roth Mkm increased their price target on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Needham & Company LLC increased their price target on shares of Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Finally, Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Fifteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $430.10.

Stryker Price Performance

SYK traded up $2.09 on Friday, hitting $391.76. 190,121 shares of the company's stock were exchanged, compared to its average volume of 1,413,792. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The firm has a 50-day moving average price of $388.94 and a 200-day moving average price of $379.43. The stock has a market cap of $149.77 billion, a price-to-earnings ratio of 51.87, a P/E/G 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 the consensus estimate of $3.07 by $0.06. The firm had revenue of $6.02 billion for 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 company's revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, equities analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current 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 paid 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 yield of 0.9%. Stryker's dividend payout ratio is 44.50%.

Insider Transactions at Stryker

In other 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 transaction of $195,305.00. Following the completion of the sale, the insider owned 12,511 shares in the company, valued at $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 represents a 5.84% decrease in their position. The disclosure for this sale can be found here. Insiders own 5.90% of the company's stock.

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.