Smithbridge Asset Management Inc. DE Sells 17,420 Shares of Stryker Corporation $SYK

Key Points

• Smithbridge Asset Management cut its Stryker stake by 49.6% in the first quarter, selling 17,420 shares and ending with 17,700 shares valued at about $5.8 million.
• Insiders have also been selling Stryker stock, including vice presidents M Kathryn Fink and Robert S. Fletcher; company insiders sold 323,264 shares worth roughly $100.7 million over the last three months.
• Stryker’s latest quarter missed earnings and revenue estimates, and while analysts still rate the stock a “Moderate Buy,” the consensus target price is about $395.33 versus the recent trading price around $313.

Smithbridge Asset Management Inc. DE trimmed its stake in Stryker Corporation (NYSE:SYK - Free Report) by 49.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,700 shares of the medical technology company's stock after selling 17,420 shares during the quarter. Smithbridge Asset Management Inc. DE's holdings in Stryker were worth $5,816,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Godfrey Financial Associates Inc. bought a new stake in shares of Stryker in the 4th quarter worth approximately $26,000. Sankala Group LLC bought a new position in Stryker during the fourth quarter valued at $26,000. United Financial Planning Group LLC bought a new position in Stryker during the third quarter valued at $27,000. Atlas Capital Advisors Inc. bought a new stake in shares of Stryker in the fourth quarter valued at $27,000. Finally, DJE Kapital AG purchased a new position in shares of Stryker during the 4th quarter valued at $28,000. 77.09% of the stock is owned by institutional investors.

Insider Activity

In related news, VP M Kathryn Fink sold 5,220 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $283.85, for a total value of $1,481,697.00. Following the sale, the vice president owned 13,137 shares in the company, valued at approximately $3,728,937.45. This trade represents a 28.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Robert S. Fletcher sold 4,544 shares of Stryker stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $306.87, for a total value of $1,394,417.28. Following the sale, the vice president directly owned 10,582 shares of the company's stock, valued at $3,247,298.34. This represents a 30.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 323,264 shares of company stock worth $100,659,489 in the last three months. Corporate insiders own 4.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SYK. Robert W. Baird set a $385.00 price objective on Stryker in a research note on Friday, May 1st. Evercore set a $355.00 price target on shares of Stryker in a research report on Friday, May 1st. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $361.00 price objective on shares of Stryker in a report on Friday, May 1st. Sanford C. Bernstein set a $410.00 price objective on shares of Stryker in a research note on Friday, May 1st. Finally, Jefferies Financial Group reissued a "buy" rating and set a $465.00 target price on shares of Stryker in a report on Wednesday, March 4th. Sixteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $395.33.

Stryker Trading Down 0.5%

Shares of SYK opened at $313.38 on Thursday. Stryker Corporation has a twelve month low of $281.00 and a twelve month high of $404.87. The stock has a market cap of $120.14 billion, a PE ratio of 36.27, a P/E/G ratio of 2.02 and a beta of 0.78. The company has a quick ratio of 1.25, a current ratio of 2.11 and a debt-to-equity ratio of 0.62. The business's 50-day moving average price is $309.89 and its 200-day moving average price is $339.15.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The medical technology company reported $2.60 EPS for the quarter, missing analysts' consensus estimates of $2.98 by ($0.38). The firm had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $6.34 billion. Stryker had a net margin of 13.20% and a return on equity of 23.42%. Stryker's revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.84 earnings per share. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. On average, equities analysts forecast that Stryker Corporation will post 14.98 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Stryker's dividend payout ratio (DPR) is presently 40.74%.

Stryker Company Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons' offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.

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