Phoenix Financial Ltd. Has $9.88 Million Holdings in Stryker Corporation $SYK

Key Points

• Phoenix Financial Ltd. reduced its stake in Stryker Corporation by 10.2% in Q2, holding 24,945 shares valued at approximately $9.88 million.
• Analysts are generally optimistic about Stryker, with a consensus rating of "Moderate Buy" and an average target price of $431.76, indicated by the majority of research reports.
• Stryker announced a quarterly dividend of $0.84 per share, reflecting a 0.9% yield, with the ex-dividend date set for September 30th.

Phoenix Financial Ltd. lessened its stake in Stryker Corporation (NYSE:SYK - Free Report) by 10.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,945 shares of the medical technology company's stock after selling 2,829 shares during the quarter. Phoenix Financial Ltd.'s holdings in Stryker were worth $9,884,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale boosted its holdings in shares of Stryker by 1.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 752,729 shares of the medical technology company's stock valued at $296,987,000 after buying an additional 7,126 shares during the period. Journey Advisory Group LLC boosted its holdings in shares of Stryker by 3.3% in the second quarter. Journey Advisory Group LLC now owns 4,499 shares of the medical technology company's stock valued at $1,780,000 after buying an additional 143 shares during the period. Bogart Wealth LLC boosted its holdings in shares of Stryker by 1.1% in the second quarter. Bogart Wealth LLC now owns 11,292 shares of the medical technology company's stock valued at $4,467,000 after buying an additional 127 shares during the period. Princeton Global Asset Management LLC boosted its holdings in shares of Stryker by 16.9% in the second quarter. Princeton Global Asset Management LLC now owns 180 shares of the medical technology company's stock valued at $71,000 after buying an additional 26 shares during the period. Finally, Schnieders Capital Management LLC acquired a new position in shares of Stryker in the second quarter valued at approximately $205,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Analysts Set New Price Targets

SYK has been the subject of several research analyst reports. BTIG Research upped their price target on shares of Stryker from $407.00 to $408.00 and gave the company a "buy" rating in a report on Monday, October 13th. Rothschild Redb upgraded shares of Stryker to a "hold" rating in a report on Thursday, September 18th. Evercore ISI reduced their target price on shares of Stryker from $418.00 to $410.00 and set an "outperform" rating for the company in a report on Tuesday, October 7th. Wells Fargo & Company increased their target price on shares of Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, UBS Group set a $408.00 target price on shares of Stryker in a report on Monday, October 13th. Fifteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Stryker currently has a consensus rating of "Moderate Buy" and a consensus target price of $431.76.

Insider Buying and Selling at Stryker

In other Stryker news, insider Viju Menon sold 500 shares of the company's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $390.61, for a total transaction of $195,305.00. Following the sale, the insider directly owned 12,511 shares of the company's stock, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 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 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. Corporate insiders own 5.20% of the company's stock.

Stryker Stock Performance

NYSE SYK opened at $381.27 on Tuesday. 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's fifty day moving average price is $379.49 and its two-hundred day moving average price is $379.09. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19. The firm has a market capitalization of $145.76 billion, a P/E ratio of 50.50, a price-to-earnings-growth ratio of 2.70 and a beta of 0.94.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly 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. 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 posted $2.81 earnings per share. The company'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 anticipate 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. This represents a $3.36 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker's dividend payout ratio is 44.50%.

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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