Northstar Asset Management Inc. Sells 9,482 Shares of Stryker Corporation $SYK

Key Points

• Northstar Asset Management Inc. reduced its holdings in Stryker Corporation (NYSE:SYK) by 19% in Q1, making it the fund's 7th largest position, valued at $15 million.
• The company's recent earnings report exceeded expectations, with $3.13 earnings per share on revenue of $6.02 billion, marking an 11.1% increase year-over-year.
• Stryker announced a quarterly dividend of $0.84 per share, with an ex-dividend date set for September 30th, representing an annualized yield of 0.9%.

Northstar Asset Management Inc. reduced its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 19.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,430 shares of the medical technology company's stock after selling 9,482 shares during the quarter. Stryker comprises approximately 4.5% of Northstar Asset Management Inc.'s holdings, making the stock its 7th largest position. Northstar Asset Management Inc.'s holdings in Stryker were worth $15,050,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SYK. Vanguard Group Inc. boosted its position in Stryker by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock worth $12,306,572,000 after acquiring an additional 361,136 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Stryker by 0.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company's stock worth $4,000,056,000 after acquiring an additional 54,693 shares during the period. Northern Trust Corp boosted its position in Stryker by 13.2% during the 4th quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company's stock worth $1,298,426,000 after acquiring an additional 420,153 shares during the period. Goldman Sachs Group Inc. boosted its position in 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 worth $838,640,000 after acquiring an additional 261,058 shares during the period. Finally, GAMMA Investing LLC boosted its position in 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 worth $772,390,000 after acquiring an additional 2,070,133 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of analyst reports. Citigroup reiterated a "buy" rating and set a $455.00 price target (up previously from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Roth Mkm upped their price objective on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Wells Fargo & Company upped their price objective on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Finally, Sanford C. Bernstein set a $450.00 price objective on Stryker in a report on Monday, May 5th. Fifteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $430.10.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction 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 transaction, the director directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.20% of the company's stock.

Stryker Trading Up 2.2%

Shares of Stryker stock traded up $8.3540 on Tuesday, reaching $389.9640. 1,691,504 shares of the company were exchanged, compared to its average volume of 1,344,400. The stock has a fifty day moving average price of $386.87 and a 200-day moving average price of $379.45. The firm has a market capitalization of $149.09 billion, a price-to-earnings ratio of 51.65, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19.

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 analysts' consensus estimates of $3.07 by $0.06. The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.Stryker's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker's payout ratio is presently 44.50%.

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.