Stryker Corporation $SYK Shares Sold by State of Alaska Department of Revenue

Key Points

• The State of Alaska Department of Revenue reduced its holdings in Stryker Corporation by 4.0%, now owning 38,643 shares valued at approximately $15.29 million.
• Director Ronda E. Stryker sold 200,000 shares for about $75.29 million, resulting in a 5.84% decrease in her ownership.
• Stryker has recently reported quarterly earnings of $3.13 EPS, surpassing estimates, with revenue of $6.02 billion, reflecting an 11.1% year-over-year increase.

State of Alaska Department of Revenue reduced its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 4.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,643 shares of the medical technology company's stock after selling 1,600 shares during the period. State of Alaska Department of Revenue's holdings in Stryker were worth $15,288,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of SYK. Goodman Advisory Group LLC purchased a new stake in shares of Stryker during the 1st quarter valued at approximately $32,000. City Holding Co. grew its holdings in shares of Stryker by 528.6% in the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after purchasing an additional 74 shares in the last quarter. Ridgewood Investments LLC grew its holdings 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 acquiring an additional 30 shares in the last quarter. Ransom Advisory Ltd acquired a new position in Stryker during the 1st quarter worth approximately $37,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in shares of Stryker during the 1st quarter worth approximately $40,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the firm's 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 transaction, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Viju Menon sold 500 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $390.61, for a total transaction 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 position. The disclosure for this sale can be found here. Company insiders own 5.90% of the company's stock.

Stryker Trading Up 0.1%

Shares of SYK stock opened at $368.83 on Friday. The firm has a market cap of $141.01 billion, a P/E ratio of 48.85, a PEG ratio of 2.66 and a beta of 0.93. 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. The firm's 50-day simple moving average is $385.71 and its 200-day simple moving average is $378.97.

Stryker (NYSE:SYK - Get Free Report) last announced 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. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same period in the prior year, the firm posted $2.81 EPS. The company'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, equities analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. BTIG Research reiterated a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Wall Street Zen cut shares of Stryker from a "buy" rating to a "hold" rating in a research note on Friday. Truist Financial set a $415.00 price objective on shares of Stryker and gave the company a "hold" rating in a research note on Monday, August 4th. Rothschild & Co Redburn assumed coverage on shares of Stryker in a research note on Thursday, September 18th. They set a "neutral" rating and a $420.00 price target on the stock. Finally, Rothschild Redb raised shares of Stryker to a "hold" rating in a research note on Thursday, September 18th. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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