Stryker Corporation $SYK Shares Sold by Confluence Investment Management LLC

Key Points

• Confluence Investment Management LLC reduced its stake in Stryker Corporation by 1.8% during Q2, now holding 232,582 shares valued at approximately $92 million.
• Stryker reported earnings of $3.13 per share for the last quarter, surpassing estimates, with a revenue of $6.02 billion, up 11.1% year-over-year.
• The company has announced a quarterly dividend of $0.84 per share, to be paid on October 31st, reflecting a 0.9% dividend yield.

Confluence Investment Management LLC decreased its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 1.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 232,582 shares of the medical technology company's stock after selling 4,258 shares during the quarter. Confluence Investment Management LLC owned 0.06% of Stryker worth $92,017,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Mogy Joel R Investment Counsel Inc. grew its holdings in shares of Stryker by 3.4% during the first quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company's stock valued at $36,561,000 after buying an additional 3,218 shares in the last quarter. Ferguson Wellman Capital Management Inc. grew its holdings in shares of Stryker by 1.9% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock valued at $65,096,000 after buying an additional 3,341 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Stryker during the first quarter valued at $1,840,000. Mar Vista Investment Partners LLC grew its holdings in shares of Stryker by 10.2% during the first quarter. Mar Vista Investment Partners LLC now owns 90,187 shares of the medical technology company's stock valued at $33,572,000 after buying an additional 8,353 shares in the last quarter. Finally, United Services Automobile Association purchased a new position in shares of Stryker during the first quarter valued at $2,857,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insider Activity

In related news, insider Viju Menon sold 500 shares of the business's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the completion of the transaction, the insider owned 12,511 shares of the company's stock, valued at approximately $4,886,921.71. The trade was a 3.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the business's 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 transaction, the director directly owned 3,222,108 shares of the company's stock, valued at $1,212,962,556.60. This represents a 5.84% decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Stryker Price Performance

Shares of NYSE:SYK opened at $383.32 on Friday. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The business has a 50-day moving average of $388.98 and a two-hundred day moving average of $379.65. The stock has a market capitalization of $146.55 billion, a P/E ratio of 50.77, a P/E/G ratio of 2.80 and a beta of 0.93. 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 (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, topping 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 analysts' expectations of $5.92 billion. During the same quarter in the previous year, the firm earned $2.81 earnings per share. The business'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 firm 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 dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker's payout ratio is currently 44.50%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SYK. Evercore ISI lifted their price target on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Citigroup restated a "buy" rating and issued a $455.00 target price (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Wells Fargo & Company boosted their target price on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Finally, Needham & Company LLC boosted their target price on Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Stryker presently has an average rating of "Moderate Buy" and a consensus price target of $431.42.

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.

Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Corporation (NYSE:SYK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.