QRG Capital Management Inc. Cuts Stock Position in Stryker Corporation $SYK

Key Points

• QRG Capital Management Inc. has reduced its stake in Stryker Corporation by 27.2%, selling 25,621 shares in the second quarter, leaving them with 68,681 shares valued at approximately $27.17 million.
• Stryker's diluted earnings per share (EPS) for the recent quarter was reported at $3.13, exceeding expectations of $3.07, alongside a revenue of $6.02 billion, which was also above growth estimates.
• The company has announced a quarterly dividend of $0.84, which will be paid out on October 31st, with an annualized dividend yield of 0.9%.

QRG Capital Management Inc. reduced its position in Stryker Corporation (NYSE:SYK - Free Report) by 27.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,681 shares of the medical technology company's stock after selling 25,621 shares during the quarter. QRG Capital Management Inc.'s holdings in Stryker were worth $27,172,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Goodman Advisory Group LLC purchased a new stake in Stryker during the 1st quarter valued at about $32,000. City Holding Co. boosted its holdings in Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after acquiring an additional 74 shares during the period. Ridgewood Investments LLC boosted its holdings in Stryker by 48.4% during the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company's stock valued at $36,000 after acquiring an additional 30 shares during the period. Ransom Advisory Ltd purchased a new stake in Stryker during the 1st quarter valued at about $37,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in Stryker during the 1st quarter valued at about $40,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Viju Menon sold 500 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The shares were 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 approximately $4,886,921.71. This trade represents a 3.84% decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

Stryker Stock Up 1.1%

Shares of NYSE:SYK opened at $370.59 on Friday. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19. The firm has a market capitalization of $141.68 billion, a P/E ratio of 49.08, a P/E/G ratio of 2.64 and a beta of 0.94. The stock has a 50 day moving average price of $382.81 and a 200-day moving average price of $378.92. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78.

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 (EPS) for the quarter, topping the consensus estimate of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same quarter in the prior year, the company earned $2.81 EPS. The business's 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, equities research analysts anticipate 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. Stockholders of record on Tuesday, September 30th will be given a $0.84 dividend. The ex-dividend date of this dividend 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%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SYK. Truist Financial set a $415.00 target price on Stryker and gave the company a "hold" rating in a report on Monday, August 4th. 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. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Stryker in a research report on Saturday, September 27th. BTIG Research reaffirmed a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Finally, Rothschild Redb raised Stryker to a "hold" rating in a research report on Thursday, September 18th. Fifteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $430.33.

Stryker Company 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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