Stryker Corporation $SYK Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in Stryker Corporation by 1.7%, now holding approximately 3.54 million shares valued at over $1.3 billion.
• Analysts have a consensus rating of "Moderate Buy" for Stryker, with an average target price set at $430.10.
• Stryker recently announced a quarterly dividend of $0.84 per share, representing a yield of 0.9% and a payout ratio of 44.50%.

Northern Trust Corp lessened its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 1.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,543,451 shares of the medical technology company's stock after selling 62,786 shares during the quarter. Northern Trust Corp owned about 0.93% of Stryker worth $1,319,050,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SYK. Vanguard Group Inc. boosted its position 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 purchasing an additional 361,136 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Stryker by 0.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company's stock valued at $4,000,056,000 after buying an additional 54,693 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Stryker by 13.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company's stock worth $838,640,000 after acquiring an additional 261,058 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Stryker by 43,226.8% in the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock valued at $772,390,000 after acquiring an additional 2,070,133 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Stryker by 1.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,015,374 shares of the medical technology company's stock valued at $750,223,000 after acquiring an additional 30,329 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Price Performance

Shares of SYK stock traded up $2.0650 during mid-day trading on Wednesday, reaching $392.0050. The stock had a trading volume of 1,388,344 shares, compared to its average volume of 1,382,405. The company has a market cap of $149.87 billion, a P/E ratio of 51.92, a price-to-earnings-growth ratio of 2.83 and a beta of 0.91. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The business has a 50-day simple moving average of $387.09 and a 200 day simple moving average of $379.54.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating analysts' consensus estimates 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 firm's revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, sell-side analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SYK. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Citigroup reissued a "buy" rating and set a $455.00 price target (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. BTIG Research reaffirmed a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Wells Fargo & Company raised their target price on shares of Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Evercore ISI raised their price target on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Fifteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, Stryker presently has a consensus rating of "Moderate Buy" and a consensus target price of $430.10.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total transaction 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.90% of the company's stock.

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.