Stock Yards Bank & Trust Co. Has $31.96 Million Holdings in Stryker Corporation $SYK

Key Points

• Stock Yards Bank & Trust Co. reduced its holdings in Stryker Corporation by 4.5%, now owning 80,769 shares worth approximately $31.96 million.
• Stryker's recent earnings beat analysts' expectations, reporting $3.13 per share against a consensus estimate of $3.07, with quarterly revenue rising by 11.1% year-over-year to $6.02 billion.
• The company's dividend of $0.84 per share, reflecting an annual yield of 0.9%, is scheduled for payment on October 31st to investors recorded by September 30th.

Stock Yards Bank & Trust Co. cut its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 4.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,769 shares of the medical technology company's stock after selling 3,842 shares during the quarter. Stock Yards Bank & Trust Co.'s holdings in Stryker were worth $31,955,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. raised its stake 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 valued at $12,306,572,000 after purchasing an additional 361,136 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Stryker by 9.2% in the first 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 purchasing an additional 1,021,496 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Stryker by 13.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company's stock valued at $838,640,000 after purchasing an additional 261,058 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Stryker by 4.2% in the first 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 purchasing an additional 83,954 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Stryker by 1.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,015,374 shares of the medical technology company's stock valued at $750,223,000 after purchasing an additional 30,329 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Performance

Shares of NYSE:SYK opened at $370.59 on Friday. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19. The firm has a market cap of $141.68 billion, a PE ratio of 49.08, a price-to-earnings-growth ratio of 2.64 and a beta of 0.94. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The business has a fifty day moving average of $382.81 and a 200-day moving average of $378.92.

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, beating analysts' consensus estimates of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The company had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same period last year, the company posted $2.81 earnings per share. The firm's quarterly 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. On average, equities research analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker's dividend payout ratio (DPR) is presently 44.50%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SYK. Rothschild & Co Redburn began coverage on Stryker in a research note on Thursday, September 18th. They issued a "neutral" rating and a $420.00 target price for the company. Truist Financial set a $415.00 price target on Stryker and gave the company a "hold" rating in a research report on Monday, August 4th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Stryker in a research report on Saturday, September 27th. Needham & Company LLC upped their price target on Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Evercore ISI upped their price target on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Fifteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Stryker currently has a consensus rating of "Moderate Buy" and a consensus target price of $430.33.

Insider Transactions at Stryker

In related news, insider Viju Menon sold 500 shares of Stryker stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $390.61, for a total value of $195,305.00. Following the completion of the sale, the insider directly owned 12,511 shares in the company, valued at $4,886,921.71. This trade represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated Wednesday, August 6th. The stock was 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 of the company's stock, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

About Stryker

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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