Sheets Smith Wealth Management Sells 1,579 Shares of Stryker Corporation $SYK

Key Points

• Sheets Smith Wealth Management decreased its stake in Stryker Corporation by 34.2%, reducing its holdings from 3,037 shares to 1,579 shares during the second quarter.
• Stryker’s earnings per share for the last quarter came in at $3.13, exceeding expectations and marking an 11.1% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.84 per share, with a dividend yield of 0.9% and scheduled for payment on October 31st.

Sheets Smith Wealth Management lowered its position in Stryker Corporation (NYSE:SYK - Free Report) by 34.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,037 shares of the medical technology company's stock after selling 1,579 shares during the quarter. Sheets Smith Wealth Management's holdings in Stryker were worth $1,202,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Stryker by 1.1% in the first quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock worth $12,306,572,000 after purchasing an additional 361,136 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Stryker by 9.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company's stock valued at $4,515,847,000 after buying an additional 1,021,496 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Stryker by 13.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company's stock valued at $838,640,000 after buying an additional 261,058 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Stryker by 4.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,086,960 shares of the medical technology company's stock valued at $776,871,000 after buying an additional 83,954 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Stryker by 43,226.8% during the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock valued at $772,390,000 after buying an additional 2,070,133 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Price Performance

Shares of Stryker stock opened at $373.12 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The firm has a market cap of $142.65 billion, a PE ratio of 49.42, a price-to-earnings-growth ratio of 2.72 and a beta of 0.93. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The company's fifty day simple moving average is $386.91 and its two-hundred day simple moving average is $379.01.

Stryker (NYSE:SYK - Get Free Report) last posted 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 company had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.Stryker's quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm earned $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, equities analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The business also recently declared 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. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 annualized dividend and a yield of 0.9%. Stryker's payout ratio is 44.50%.

Insider Buying and Selling at Stryker

In related news, insider Viju Menon sold 500 shares of Stryker stock in a transaction 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 sale, the insider owned 12,511 shares in the company, valued at $4,886,921.71. The trade was a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated 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 sale, the director directly owned 3,222,108 shares in the company, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their position. The disclosure for this sale can be found here. Insiders own 5.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Truist Financial set a $415.00 target price on Stryker and gave the company a "hold" rating in a research note on Monday, August 4th. Redburn Partners set a $420.00 price objective on Stryker in a report on Thursday, September 18th. BTIG Research reiterated a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Wells Fargo & Company increased their price target on shares of Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Fourteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $430.33.

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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