Stryker Corporation $SYK Shares Sold by Mirabaud & Cie SA

Key Points

• Mirabaud & Cie SA has reduced its stake in Stryker Corporation by 17.3%, now holding 5,735 shares valued at approximately $2.27 million.
• Stryker's recent earnings showed a profit of $3.13 EPS, exceeding expectations, with a revenue of $6.02 billion for the quarter.
• Analysts have a consensus rating of "Moderate Buy" for Stryker, with a target price averaging $431.42.

Mirabaud & Cie SA cut its position in Stryker Corporation (NYSE:SYK - Free Report) by 17.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,735 shares of the medical technology company's stock after selling 1,200 shares during the quarter. Stryker accounts for 0.7% of Mirabaud & Cie SA's holdings, making the stock its 29th largest holding. Mirabaud & Cie SA's holdings in Stryker were worth $2,269,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Capital A Wealth Management LLC purchased a new position in Stryker in the fourth quarter valued at $26,000. Goodman Advisory Group LLC purchased a new stake in Stryker during the 1st quarter worth about $32,000. City Holding Co. lifted its holdings in Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after buying an additional 74 shares during the last quarter. Ransom Advisory Ltd purchased a new stake in Stryker during the 1st quarter worth about $37,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in Stryker during the 1st quarter worth about $40,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on SYK. Citigroup reaffirmed a "buy" rating and set a $455.00 price target (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Needham & Company LLC boosted their target price on Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a report on Friday, August 1st. Evercore ISI boosted their target price on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. BTIG Research reissued a "buy" rating on shares of Stryker in a report on Monday, July 14th. Finally, Wells Fargo & Company boosted their target price on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Stryker has a consensus rating of "Moderate Buy" and an average target price of $431.42.

Stryker Stock Performance

NYSE SYK opened at $383.32 on Monday. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The business's 50 day moving average is $388.98 and its two-hundred day moving average is $379.50. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The stock has a market capitalization of $146.55 billion, a price-to-earnings ratio of 50.77, a PEG ratio of 2.76 and a beta of 0.93.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $5.92 billion. During the same quarter in the previous year, the firm posted $2.81 EPS. 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. Research analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

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

Insider Activity at Stryker

In other Stryker news, insider Viju Menon sold 500 shares of the business's stock in a transaction that occurred 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 owned 12,511 shares in the company, 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 SEC, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of the company'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 value of $75,290,000.00. Following the completion of the sale, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their position. The disclosure for this sale can be found here. Insiders own 5.20% of the company's stock.

Stryker Company 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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