Nearwater Capital Markets Ltd Has $14.45 Million Stake in Stryker Corporation $SYK

Key Points

• Nearwater Capital Markets Ltd reduced its stake in Stryker Corporation by 61.5% in the first quarter, owning 38,830 shares worth approximately $14.45 million after selling 62,000 shares.
• Insider transactions included sales by Director Ronda E. Stryker of 200,000 shares for $75.29 million, resulting in a 5.84% decrease in her holdings.
• Wall Street analysts have shown optimism, with multiple firms raising their price targets for Stryker, setting a consensus target price of $430.10 with a rating of "Moderate Buy."

Nearwater Capital Markets Ltd cut its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 61.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,830 shares of the medical technology company's stock after selling 62,000 shares during the period. Nearwater Capital Markets Ltd's holdings in Stryker were worth $14,454,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SYK. Capital A Wealth Management LLC purchased a new stake in shares of Stryker during the 4th quarter worth about $26,000. Goodman Advisory Group LLC purchased a new stake in shares of Stryker during the 1st quarter worth about $32,000. City Holding Co. raised its stake in shares of Stryker by 528.6% in the 1st 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 bought a new position in shares of Stryker in the 1st quarter valued at approximately $40,000. Finally, Cornerstone Planning Group LLC raised its stake in shares of Stryker by 46.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 127 shares of the medical technology company's stock valued at $45,000 after acquiring an additional 40 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on SYK. Wells Fargo & Company raised their price objective on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. BTIG Research reissued a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Needham & Company LLC raised their price objective on Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Wall Street Zen raised Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Finally, Evercore ISI raised their price objective on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Fifteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Stryker has a consensus rating of "Moderate Buy" and an average target price of $430.10.

Stryker Stock Performance

NYSE SYK traded down $2.32 during trading on Friday, hitting $392.02. The company's stock had a trading volume of 1,094,061 shares, compared to its average volume of 1,056,309. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The firm has a 50 day moving average price of $389.52 and a 200 day moving average price of $379.51. The firm has a market cap of $149.87 billion, a P/E ratio of 51.92, a price-to-earnings-growth ratio of 2.85 and a beta of 0.93. 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 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 for the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The company's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Equities research analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company 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 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 payout ratio is currently 44.50%.

Insider Buying and Selling

In other 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 sale, the insider directly owned 12,511 shares in the company, valued at approximately $4,886,921.71. The trade was a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 shares were sold at an average price of $376.45, for a total value of $75,290,000.00. Following the sale, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.20% of the company's stock.

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.