Northstar Advisory Group LLC Sells 5,807 Shares of Stryker Corporation $SYK

Key Points

• Northstar Advisory Group LLC has reduced its holdings in Stryker Corporation by 57.3%, selling 5,807 shares and now owning 4,335 shares valued at approximately $1.72 million.
• Stryker's recent quarterly earnings report showed $3.13 earnings per share, exceeding analysts' expectations and reflecting an 11.1% revenue growth year-over-year to $6.02 billion.
• The company announced a quarterly dividend of $0.84 per share, representing a 0.9% dividend yield, with the payout scheduled for October 31st.

Northstar Advisory Group LLC lowered its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 57.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,335 shares of the medical technology company's stock after selling 5,807 shares during the period. Northstar Advisory Group LLC's holdings in Stryker were worth $1,715,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of SYK. Mogy Joel R Investment Counsel Inc. lifted its position in shares of Stryker by 3.4% during the 1st quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company's stock valued at $36,561,000 after buying an additional 3,218 shares during the last quarter. Ferguson Wellman Capital Management Inc. lifted its position in shares of Stryker by 1.9% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock valued at $65,096,000 after buying an additional 3,341 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Stryker during the 1st quarter valued at $1,840,000. Mar Vista Investment Partners LLC lifted its position in shares of Stryker by 10.2% during the 1st quarter. Mar Vista Investment Partners LLC now owns 90,187 shares of the medical technology company's stock valued at $33,572,000 after buying an additional 8,353 shares during the last quarter. Finally, United Services Automobile Association purchased a new position in shares of Stryker during the 1st quarter valued at $2,857,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Stock Down 1.4%

Shares of NYSE SYK opened at $383.32 on Monday. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $146.55 billion, a price-to-earnings ratio of 50.77, a PEG ratio of 2.76 and a beta of 0.93. The business has a 50-day moving average of $388.98 and a 200-day moving average of $379.50.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating analysts' consensus estimates of $3.07 by $0.06. The company had revenue of $6.02 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period last year, the firm posted $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Sell-side analysts expect 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. Investors of record on Tuesday, September 30th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend 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%.

Analysts Set New Price Targets

SYK has been the topic of a number of recent research reports. Wells Fargo & Company upped their price target on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Needham & Company LLC raised 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. BTIG Research restated a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Finally, Evercore ISI raised their target price on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Fourteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Stryker has a consensus rating of "Moderate Buy" and an average price target of $431.42.

Insider Transactions 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 value of $195,305.00. Following the transaction, the insider directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of Stryker 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 transaction, the director directly owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.20% 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.

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