Stryker Corporation $SYK Shares Sold by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp reduced its stake in Stryker Corporation by 22.1% to 14,168 shares, valued at $5.27 million, as reported in its recent SEC filing.
• Multiple institutional investors increased their positions in Stryker, with Vanguard boosting its stake by 1.1% to over $12 billion, while GAMMA Investing's position rose dramatically by 43,226.8%.
• Stryker recently reported better-than-expected earnings, with $3.13 earnings per share, beating estimates and revealing revenue growth of 11.1% year-over-year.

OMERS ADMINISTRATION Corp lessened its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 22.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,168 shares of the medical technology company's stock after selling 4,013 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Stryker were worth $5,274,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SYK. Capital A Wealth Management LLC acquired a new stake in Stryker during the 4th quarter worth $26,000. Goodman Advisory Group LLC acquired a new stake in Stryker during the 1st quarter worth $32,000. City Holding Co. boosted its stake in Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after purchasing an additional 74 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in Stryker during the 1st quarter worth $40,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in Stryker during the 4th quarter worth $42,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SYK. Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Evercore ISI boosted their price objective on shares of Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. BTIG Research restated a "buy" rating on shares of Stryker in a report on Monday, July 14th. Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a report on Monday, May 5th. Finally, Wells Fargo & Company boosted their price target 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. Fifteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $430.10.

Stryker Stock Down 0.4%

Shares of SYK stock traded down $1.70 during trading hours on Tuesday, reaching $389.71. 489,359 shares of the stock were exchanged, compared to its average volume of 1,411,071. The business's fifty day moving average is $389.51 and its two-hundred day moving average is $379.38. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The firm has a market capitalization of $148.99 billion, a P/E ratio of 51.62, a P/E/G ratio of 2.85 and a beta of 0.93.

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

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be paid 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 is Tuesday, September 30th. Stryker's dividend payout ratio is presently 44.50%.

Insider Buying and Selling

In related news, insider Viju Menon sold 500 shares of the company'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 value of $195,305.00. Following the completion of the transaction, the insider directly owned 12,511 shares of the company's stock, valued at $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the company'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 of the company's stock, 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. 5.20% of the stock is currently owned by corporate insiders.

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.