Stryker Corporation $SYK Shares Sold by Dale Q Rice Investment Management Ltd

Key Points

• Dale Q Rice Investment Management Ltd reduced its stake in Stryker Corporation by 50.0% to 815 shares, worth $319,000 at the end of the most recent quarter.
• Stryker reported a quarterly earnings of $3.13 per share, exceeding analyst estimates and showing an 11.1% increase in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.84 per share, with a yield of 0.9%, paying on October 31st to investors of record by September 30th.

Dale Q Rice Investment Management Ltd reduced its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 50.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 815 shares of the medical technology company's stock after selling 815 shares during the period. Dale Q Rice Investment Management Ltd's holdings in Stryker were worth $319,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Sachetta LLC increased its stake in Stryker by 58.7% during the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company's stock worth $29,000 after buying an additional 27 shares in the last quarter. Goodman Advisory Group LLC purchased a new stake in Stryker during the 1st quarter worth approximately $32,000. Ridgewood Investments LLC increased its stake in Stryker by 48.4% during the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company's stock worth $36,000 after buying an additional 30 shares in the last quarter. Ransom Advisory Ltd purchased a new stake in Stryker during the 1st quarter worth approximately $37,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in Stryker during the 1st quarter worth approximately $40,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Trading Up 1.5%

Shares of Stryker stock opened at $374.67 on Friday. The firm has a market capitalization of $143.24 billion, a price-to-earnings ratio of 49.63, a PEG ratio of 2.66 and a beta of 0.94. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. 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 stock has a 50 day moving average of $379.40 and a 200 day moving average of $378.77.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.07 by $0.06. The company had revenue of $6.02 billion during 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%.The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, research analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

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 $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker's dividend payout ratio is presently 44.50%.

Insider Activity at Stryker

In other Stryker news, insider Viju Menon sold 500 shares of the company's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the transaction, the insider directly owned 12,511 shares in the company, valued at $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $75,290,000.00. Following the transaction, the director owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company's stock.

Analyst Ratings Changes

SYK has been the subject of several research reports. Needham & Company LLC boosted their price objective on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Rothschild Redb upgraded Stryker to a "hold" rating in a research report on Thursday, September 18th. Wells Fargo & Company upped their price target on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. BTIG Research upped their price target on Stryker from $407.00 to $408.00 and gave the company a "buy" rating in a research report on Monday. Finally, Evercore ISI dropped their price target on Stryker from $418.00 to $410.00 and set an "outperform" rating for the company in a research report on Tuesday, October 7th. Fifteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Stryker has a consensus rating of "Moderate Buy" and an average price target of $431.76.

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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