NewEdge Advisors LLC Sells 1,047 Shares of Stryker Corporation $SYK

Key Points

• NewEdge Advisors LLC has reduced its stake in Stryker Corporation by 3.8%, selling 1,047 shares, with remaining holdings valued at approximately $9.84 million.
• Stryker reported earnings per share (EPS) of $3.13 for the last quarter, exceeding analyst expectations, with revenue rising 11.1% to $6.02 billion.
• The company declared a quarterly dividend of $0.84 per share, reflecting an annualized yield of 0.9%, marking a consistent payout strategy as its ratio stands at 44.50%.

NewEdge Advisors LLC lessened its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 3.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 26,440 shares of the medical technology company's stock after selling 1,047 shares during the quarter. NewEdge Advisors LLC's holdings in Stryker were worth $9,842,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SYK. Capital A Wealth Management LLC acquired a new stake in Stryker during the 4th quarter valued at approximately $26,000. Goodman Advisory Group LLC acquired a new stake in shares of Stryker during the 1st quarter worth approximately $32,000. City Holding Co. grew its position in 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 purchasing an additional 74 shares during the period. Smallwood Wealth Investment Management LLC acquired a new stake in Stryker in the 1st quarter valued at $40,000. Finally, Cornerstone Planning Group LLC grew its position in 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 purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Price Performance

SYK traded down $9.54 during midday trading on Wednesday, hitting $383.22. The stock had a trading volume of 931,653 shares, compared to its average volume of 1,399,762. The company has a market cap of $146.51 billion, a P/E ratio of 50.76, a price-to-earnings-growth ratio of 2.86 and a beta of 0.93. The business has a fifty day moving average of $389.39 and a 200 day moving average of $379.67. 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 Corporation has a 1 year low of $329.16 and a 1 year high of $406.19.

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

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a $0.84 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 annualized dividend and a yield of 0.9%. Stryker's payout ratio is presently 44.50%.

Insider Activity at Stryker

In other Stryker news, 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 completion of the sale, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Viju Menon sold 500 shares of the business's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the completion of the sale, the insider owned 12,511 shares of the company's stock, valued at $4,886,921.71. The trade was a 3.84% decrease in their position. The disclosure for this sale can be found here. Insiders own 5.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. BTIG Research restated a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Evercore ISI boosted 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. Wall Street Zen raised Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Citigroup reiterated a "buy" rating and issued a $455.00 target price (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Finally, Needham & Company LLC raised their price target on Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a report on Friday, August 1st. Fourteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $431.42.

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.