Stryker Corporation $SYK Shares Sold by Stack Financial Management Inc

Key Points

• Stack Financial Management Inc reduced its stake in Stryker Corporation by 1.3%, owning 73,347 shares worth approximately $29 million, making Stryker its 12th largest position.
• Insiders sold significant amounts of stock recently, with Director Ronda E. Stryker offloading 200,000 shares for about $75 million, leading to a 5.84% decrease in her ownership.
• Stryker's stock has a market cap of $139.45 billion, and the company reported beating earnings estimates for the last quarter with earnings per share at $3.13, surpassing the consensus by $0.06.

Stack Financial Management Inc trimmed its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 1.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,347 shares of the medical technology company's stock after selling 955 shares during the period. Stryker comprises 2.6% of Stack Financial Management Inc's holdings, making the stock its 12th largest position. Stack Financial Management Inc's holdings in Stryker were worth $29,018,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mar Vista Investment Partners LLC grew its holdings in 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 worth $33,572,000 after acquiring an additional 8,353 shares during the period. United Services Automobile Association acquired a new stake in Stryker during the first quarter worth about $2,857,000. AXS Investments LLC grew its holdings in Stryker by 13.7% during the first quarter. AXS Investments LLC now owns 8,827 shares of the medical technology company's stock worth $3,286,000 after acquiring an additional 1,062 shares during the period. Park Edge Advisors LLC acquired a new stake in Stryker during the second quarter worth about $679,000. Finally, Focus Partners Wealth grew its holdings in Stryker by 1.7% during the first quarter. Focus Partners Wealth now owns 130,156 shares of the medical technology company's stock worth $48,451,000 after acquiring an additional 2,167 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Stryker

In related news, insider Viju Menon sold 500 shares of the stock in a transaction that occurred 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 completion of the sale, the insider owned 12,511 shares of the company's stock, valued at approximately $4,886,921.71. This trade 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 can be accessed through this link. Also, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were 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 directly owned 3,222,108 shares of the company's stock, 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. Company insiders own 5.90% of the company's stock.

Stryker Stock Performance

NYSE SYK opened at $364.77 on Monday. The company has a market cap of $139.45 billion, a PE ratio of 48.31, a price-to-earnings-growth ratio of 2.63 and a beta of 0.94. The stock's 50 day simple moving average is $380.25 and its 200-day simple moving average is $378.90. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19. 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 released its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.07 by $0.06. The business had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last 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, equities research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

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

Analyst Ratings Changes

Several analysts recently commented on SYK shares. Rothschild Redb raised Stryker to a "hold" rating in a report on Thursday, September 18th. Redburn Partners set a $420.00 price target on Stryker in a research report on Thursday, September 18th. Wells Fargo & Company increased their price target on Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Rothschild & Co Redburn began coverage on Stryker in a research report on Thursday, September 18th. They set a "neutral" rating and a $420.00 price target on the stock. Finally, Truist Financial set a $415.00 price target on Stryker and gave the stock a "hold" rating in a research report on Monday, August 4th. Fifteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $430.10.

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.

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.