Mission Creek Capital Partners Inc. Sells 899 Shares of Stryker Corporation $SYK

Key Points

• Mission Creek Capital Partners Inc. reduced its stake in Stryker Corporation (SYK) by 15.7%, selling 899 shares, leaving it with a total of 4,840 shares valued at approximately $1.8 million.
• Several institutional investors significantly increased their holdings in Stryker, most notably GAMMA Investing LLC, which raised its stake by over 43,000%, now owning 2.07 million shares worth about $772 million.
• Stryker Corporation reported strong quarterly earnings, with earnings per share of $3.13, exceeding estimates and recording a revenue increase of 11.1% year-over-year, reaching $6.02 billion.

Mission Creek Capital Partners Inc. lowered its position in Stryker Corporation (NYSE:SYK - Free Report) by 15.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,840 shares of the medical technology company's stock after selling 899 shares during the period. Mission Creek Capital Partners Inc.'s holdings in Stryker were worth $1,802,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC bought a new stake in Stryker during the fourth quarter worth approximately $26,000. Goodman Advisory Group LLC bought a new stake in shares of Stryker in the first quarter valued at approximately $32,000. City Holding Co. boosted its position in shares of Stryker by 528.6% in 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 during the period. Smallwood Wealth Investment Management LLC bought a new stake in shares of Stryker in the first quarter valued at approximately $40,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Stryker in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on SYK. Wells Fargo & Company increased their price objective on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Evercore ISI raised their target price on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Sanford C. Bernstein set a $450.00 target price on Stryker in a research report on Monday, May 5th. Finally, Wall Street Zen raised Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Fifteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Stryker currently has a consensus rating of "Moderate Buy" and an average target price of $430.10.

Insider Activity at Stryker

In related news, insider Viju Menon sold 500 shares of the business'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 transaction, the insider directly owned 12,511 shares of the company's stock, valued at approximately $4,886,921.71. The trade was a 3.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of the business's 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 transaction, the director directly owned 3,222,108 shares in the company, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

Stryker Price Performance

Shares of NYSE:SYK traded up $1.81 during midday trading on Friday, reaching $391.48. The company's stock had a trading volume of 672,496 shares, compared to its average volume of 1,266,991. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The company has a market capitalization of $149.67 billion, a P/E ratio of 51.85, a P/E/G ratio of 2.85 and a beta of 0.91. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. The business's fifty day simple moving average is $389.26 and its 200-day simple moving average is $379.39.

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

Stryker Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker's dividend payout ratio (DPR) is currently 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.