Nordea Investment Management AB Lowers Stock Holdings in Stryker Corporation $SYK

Key Points

• Nordea Investment Management AB reduced its stake in Stryker Corporation by 11.1%, owning 1,120,319 shares valued at approximately $440 million after selling 139,234 shares during the quarter.
• Several hedge funds increased their positions in Stryker, with Price T Rowe Associates and Alliancebernstein boosting their stakes by 9.2% and 66.7%, respectively.
• Stryker declared a quarterly dividend of $0.84 per share, with an annual yield of 0.9%, set to be paid on October 31st.

Nordea Investment Management AB lessened its stake in Stryker Corporation (NYSE:SYK - Free Report) by 11.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,120,319 shares of the medical technology company's stock after selling 139,234 shares during the quarter. Nordea Investment Management AB owned 0.29% of Stryker worth $440,420,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in SYK. Nuveen LLC purchased a new position in shares of Stryker in the 1st quarter valued at about $558,075,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Stryker by 9.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company's stock valued at $4,515,847,000 after buying an additional 1,021,496 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Stryker by 66.7% in the 1st quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company's stock valued at $511,152,000 after buying an additional 549,643 shares during the period. Vanguard Group Inc. boosted its stake in shares of Stryker by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock valued at $12,306,572,000 after buying an additional 361,136 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Stryker by 13.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company's stock valued at $838,640,000 after buying an additional 261,058 shares during the period. Hedge funds and other institutional investors own 77.09% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SYK. Redburn Partners set a $420.00 price objective on Stryker in a research note on Thursday, September 18th. Weiss Ratings restated a "buy (b-)" rating on shares of Stryker in a research note on Wednesday, October 8th. Needham & Company LLC boosted their target price on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Truist Financial decreased their target price on Stryker from $415.00 to $407.00 and set a "hold" rating for the company in a research note on Wednesday. Finally, Wall Street Zen cut Stryker from a "buy" rating to a "hold" rating in a research note on Friday, September 26th. Fifteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $431.76.

Stryker Trading Down 0.2%

SYK opened at $369.05 on Friday. The firm has a market cap of $141.09 billion, a price-to-earnings ratio of 48.88, a price-to-earnings-growth ratio of 2.66 and a beta of 0.94. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19. The business's 50 day moving average is $379.46 and its two-hundred day moving average is $378.76. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70.

Stryker (NYSE:SYK - Get Free Report) last released 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 analyst estimates of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The firm'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 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, research analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

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

Insider Activity at Stryker

In other Stryker news, insider Viju Menon sold 500 shares of Stryker 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 owned 12,511 shares of the company's stock, valued at $4,886,921.71. The trade was a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 completion of the transaction, the director directly 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 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.

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