Raymond James Financial Inc. Decreases Position in Stryker Corporation $SYK

Key Points

• Raymond James Financial Inc. reduced its stake in Stryker Corporation by 0.4%, selling 3,448 shares and retaining 978,064 shares valued at approximately $364 million.
• Stryker's recent quarterly earnings surpassed expectations, reporting $3.13 earnings per share and revenue of $6.02 billion, reflecting an 11.1% year-over-year increase.
• The company has declared a quarterly dividend of $0.84, which will be distributed to shareholders on October 31st, with a total annual yield of 0.9%.

Raymond James Financial Inc. decreased its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 0.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 978,064 shares of the medical technology company's stock after selling 3,448 shares during the period. Raymond James Financial Inc. owned 0.26% of Stryker worth $364,085,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital A Wealth Management LLC purchased a new position in shares of Stryker during the fourth quarter worth approximately $26,000. Goodman Advisory Group LLC purchased a new position in Stryker in the 1st quarter worth $32,000. City Holding Co. boosted 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 valued at $33,000 after buying an additional 74 shares during the period. Smallwood Wealth Investment Management LLC bought a new position in shares of Stryker during the first quarter valued at about $40,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Stryker in the fourth quarter worth about $42,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Up 0.5%

NYSE SYK traded up $2.0650 during trading hours on Wednesday, reaching $392.0050. 1,388,344 shares of the company's stock traded hands, compared to its average volume of 1,439,110. The firm has a market cap of $149.87 billion, a PE ratio of 51.92, a PEG ratio of 2.77 and a beta of 0.91. 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 52-week low of $329.16 and a 52-week high of $406.19. The firm has a 50-day simple moving average of $386.87 and a 200 day simple moving average of $379.45.

Stryker (NYSE:SYK - Get Free Report) last issued 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. The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business's revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Sell-side analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a 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%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SYK shares. Needham & Company LLC raised their price target on shares of Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Citigroup reiterated a "buy" rating and set a $455.00 target price (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. JMP Securities restated a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Wall Street Zen raised Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Finally, Wells Fargo & Company upped their price objective on shares of Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Fifteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $430.10.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the transaction, the director owned 3,222,108 shares of the company's stock, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.20% of the stock is owned by company 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.