Stryker Corporation $SYK Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its stake in Stryker Corporation by 8.9%, now holding 1,147,853 shares valued at approximately $454.1 million.
• Stryker reported a Q2 earnings per share of $3.13, exceeding estimates, with revenue increasing by 11.1% year-over-year to $6.02 billion.
• The company declared a quarterly dividend of $0.84 per share, representing an annual yield of 0.9%, to be paid on October 31st.

TD Asset Management Inc cut its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 8.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,147,853 shares of the medical technology company's stock after selling 111,584 shares during the quarter. TD Asset Management Inc owned 0.30% of Stryker worth $454,125,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SYK. Sachetta LLC raised its holdings in shares of Stryker by 58.7% in the second quarter. Sachetta LLC now owns 73 shares of the medical technology company's stock worth $29,000 after acquiring an additional 27 shares during the last quarter. Goodman Advisory Group LLC acquired a new position in shares of Stryker in the first quarter worth $32,000. Ridgewood Investments LLC raised its holdings in shares of Stryker by 48.4% in the second quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company's stock worth $36,000 after acquiring an additional 30 shares during the last quarter. Ransom Advisory Ltd acquired a new position in shares of Stryker in the first quarter worth $37,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in Stryker in the first quarter valued at $40,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Price Performance

Shares of NYSE SYK opened at $364.95 on Tuesday. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19. The business has a 50-day moving average of $379.93 and a 200-day moving average of $378.91. 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 company has a market capitalization of $139.52 billion, a price-to-earnings ratio of 48.34, a PEG ratio of 2.63 and a beta of 0.94.

Stryker (NYSE:SYK - Get Free Report) last issued its earnings results 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 return on equity of 23.94% and a net margin of 12.25%.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 prior year, the business earned $2.81 earnings per share. The company's revenue was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, equities analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal 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 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 is currently 44.50%.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction dated 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 transaction, the director 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Viju Menon sold 500 shares of the stock in a transaction dated 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 directly owned 12,511 shares of the company's stock, valued at $4,886,921.71. This represents a 3.84% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company's stock.

Analyst Upgrades and Downgrades

SYK has been the subject of several analyst reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of Stryker in a research note on Wednesday, October 8th. Evercore ISI dropped their target price on Stryker from $418.00 to $410.00 and set an "outperform" rating for the company in a research note on Tuesday, October 7th. Needham & Company LLC upped their target price on Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Rothschild Redb upgraded Stryker to a "hold" rating in a research note on Thursday, September 18th. Finally, Wells Fargo & Company upped their price target on Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Fifteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $432.14.

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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