Stryker Corporation $SYK Shares Sold by Prime Capital Investment Advisors LLC

Key Points

• Prime Capital Investment Advisors LLC reduced its stake in Stryker Corporation by 20.9%, now holding 13,123 shares worth approximately $5.2 million.
• Director Ronda E. Stryker sold 200,000 shares at an average price of $376.45, resulting in a total transaction value of $75.29 million.
• Stryker announced a quarterly dividend of $0.84 per share, with a yield of 0.9%, to be paid on October 31st.

Prime Capital Investment Advisors LLC cut its stake in Stryker Corporation (NYSE:SYK - Free Report) by 20.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,123 shares of the medical technology company's stock after selling 3,475 shares during the period. Prime Capital Investment Advisors LLC's holdings in Stryker were worth $5,192,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Nuveen LLC purchased a new stake in Stryker in the first quarter valued at approximately $558,075,000. Price T Rowe Associates Inc. MD grew its position in shares of Stryker by 9.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company's stock worth $4,515,847,000 after acquiring an additional 1,021,496 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Stryker by 66.7% in the 1st quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company's stock valued at $511,152,000 after acquiring an additional 549,643 shares during the period. Vanguard Group Inc. raised its position in Stryker by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock valued at $12,306,572,000 after purchasing an additional 361,136 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake 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 purchasing an additional 261,058 shares during the period. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 200,000 shares of Stryker 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 completion of 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Viju Menon sold 500 shares of the business's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $390.61, for a total value of $195,305.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by company insiders.

Stryker Trading Down 1.2%

Shares of SYK stock opened at $365.99 on Tuesday. The business's fifty day moving average price is $382.13 and its 200 day moving average price is $378.92. The firm has a market capitalization of $139.92 billion, a PE ratio of 48.48, a P/E/G ratio of 2.67 and a beta of 0.94. 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 Corporation has a 1-year low of $329.16 and a 1-year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last issued its earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $5.92 billion. During the same period in the previous year, the firm earned $2.81 EPS. The business's 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, sell-side analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. Stryker's dividend payout ratio (DPR) is 44.50%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SYK shares. Wall Street Zen lowered shares of Stryker from a "buy" rating to a "hold" rating in a research note on Friday, September 26th. Redburn Partners set a $420.00 price objective on Stryker in a research note on Thursday, September 18th. BTIG Research reiterated a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Rothschild Redb upgraded Stryker to a "hold" rating in a research note on Thursday, September 18th. Finally, Evercore ISI lifted their price objective 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. Fifteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $430.33.

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.

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.