Stryker Corporation $SYK Shares Sold by Legacy Trust

Key Points

• Legacy Trust has reduced its stake in Stryker Corporation (NYSE: SYK) by 5.5%, now holding 18,751 shares valued at approximately $7.42 million, making Stryker its 20th largest investment.
• Analyst price targets for Stryker vary, with Evercore ISI raising it to $415.00 while others like Wells Fargo maintain a target of $445.00, reflecting mostly positive ratings among 15 Buy and 6 Hold assessments.
• Stryker recently declared a quarterly dividend of $0.84 per share, yielding 0.9%, with a payout ratio currently at 44.50%.

Legacy Trust reduced its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 5.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,751 shares of the medical technology company's stock after selling 1,092 shares during the period. Stryker accounts for about 1.8% of Legacy Trust's holdings, making the stock its 20th biggest holding. Legacy Trust's holdings in Stryker were worth $7,418,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SYK. Brighton Jones LLC increased its position in shares of Stryker by 15.4% during the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock valued at $1,643,000 after acquiring an additional 609 shares during the last quarter. Vest Financial LLC acquired a new stake in shares of Stryker during the first quarter valued at about $203,000. Foster Group Inc. increased its position in shares of Stryker by 16.3% during the first quarter. Foster Group Inc. now owns 699 shares of the medical technology company's stock valued at $260,000 after acquiring an additional 98 shares during the last quarter. Signal Advisors Wealth LLC increased its position in shares of Stryker by 6.3% during the first quarter. Signal Advisors Wealth LLC now owns 2,238 shares of the medical technology company's stock valued at $833,000 after acquiring an additional 133 shares during the last quarter. Finally, Procyon Advisors LLC increased its position in shares of Stryker by 2.3% during the first quarter. Procyon Advisors LLC now owns 2,611 shares of the medical technology company's stock valued at $972,000 after acquiring an additional 59 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Evercore ISI lifted their price target on shares of Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Wall Street Zen cut shares of Stryker from a "buy" rating to a "hold" rating in a report on Friday, September 26th. Rothschild Redb upgraded shares of Stryker to a "hold" rating in a report on Thursday, September 18th. Wells Fargo & Company lifted their price objective on shares of Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Truist Financial set a $415.00 price objective on shares of Stryker and gave the company a "hold" rating in a report on Monday, August 4th. Fifteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $430.33.

Stryker Stock Up 1.1%

Shares of Stryker stock opened at $370.59 on Friday. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19. The company has a 50 day moving average of $382.81 and a 200 day moving average of $378.93. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $141.68 billion, a P/E ratio of 49.08, a P/E/G ratio of 2.67 and a beta of 0.94.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly 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. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter in the previous year, the firm earned $2.81 earnings per share. The firm's quarterly revenue was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, research analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

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

Insider Buying and Selling

In related news, insider Viju Menon sold 500 shares of Stryker stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the completion of the transaction, the insider owned 12,511 shares in the company, valued at $4,886,921.71. The trade was a 3.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction that occurred 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 sale, the director 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 owned by 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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