Prudential PLC Cuts Stake in Stryker Corporation $SYK

Key Points

• Prudential PLC has reduced its stake in Stryker Corporation by 13.0%, owning 5,855 shares valued at $2,180,000 after selling 877 shares in the first quarter.
• Stryker reported a Q2 earnings per share of $3.13, exceeding analysts' estimates and showing year-over-year revenue growth of 11.1% with total revenue of $6.02 billion.
• The company declared a quarterly dividend of $0.84, with an annualized yield of 0.9%, set to be paid on October 31st to investors of record.

Prudential PLC decreased its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 13.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,855 shares of the medical technology company's stock after selling 877 shares during the period. Prudential PLC's holdings in Stryker were worth $2,180,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Capital A Wealth Management LLC bought a new position in Stryker in the fourth quarter valued at approximately $26,000. Goodman Advisory Group LLC acquired a new position in Stryker during the first quarter worth $32,000. City Holding Co. raised its position in Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after acquiring an additional 74 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in Stryker in the first quarter valued at $40,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in Stryker in the fourth quarter valued at $42,000. 77.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of research analyst reports. Needham & Company LLC lifted their price target on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Evercore ISI upped their target price on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Truist Financial set a $415.00 price target on Stryker and gave the company a "hold" rating in a research note on Monday, August 4th. Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Finally, Sanford C. Bernstein set a $450.00 target price on Stryker in a report on Monday, May 5th. Fifteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Stryker presently has an average rating of "Moderate Buy" and an average target price of $430.10.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction dated 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 sale, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.90% of the stock is owned by insiders.

Stryker Trading Up 1.2%

NYSE:SYK traded up $4.6650 on Tuesday, reaching $386.2750. 474,133 shares of the stock traded hands, compared to its average volume of 1,430,838. The firm has a market capitalization of $147.68 billion, a price-to-earnings ratio of 51.16, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. Stryker Corporation has a 1-year low of $329.16 and a 1-year 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 company's 50 day moving average is $386.77 and its 200-day moving average is $379.38.

Stryker (NYSE:SYK - Get Free Report) last announced 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 business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter last year, the firm earned $2.81 earnings per share. Stryker's quarterly revenue was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Equities research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be issued a $0.84 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. Stryker's dividend payout ratio is currently 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.