Stryker Corporation $SYK Shares Sold by Wendell David Associates Inc.

Key Points

• Wendell David Associates Inc. has reduced its stake in Stryker Corporation by 2.4%, now holding 113,603 shares valued at approximately $44.9 million.
• Analysts have shown a mixed outlook on Stryker, with a consensus rating of "Moderate Buy" and a target price of $431.76 despite price adjustments by firms such as Evercore ISI and Wells Fargo.
• Stryker is set to pay a quarterly dividend of $0.84 per share on October 31, representing a 0.9% dividend yield.

Wendell David Associates Inc. reduced its position in Stryker Corporation (NYSE:SYK - Free Report) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,603 shares of the medical technology company's stock after selling 2,820 shares during the quarter. Stryker makes up approximately 4.5% of Wendell David Associates Inc.'s portfolio, making the stock its 6th biggest position. Wendell David Associates Inc.'s holdings in Stryker were worth $44,945,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SYK. Nuveen LLC acquired a new position in Stryker in the 1st quarter valued at about $558,075,000. Price T Rowe Associates Inc. MD grew its position in Stryker by 9.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company's stock valued at $4,515,847,000 after acquiring an additional 1,021,496 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Stryker by 66.7% during the first quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company's stock worth $511,152,000 after buying an additional 549,643 shares during the period. Vanguard Group Inc. increased its stake in shares of Stryker by 1.1% during the first quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock worth $12,306,572,000 after buying an additional 361,136 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Stryker by 13.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company's stock worth $838,640,000 after buying an additional 261,058 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on SYK shares. Rothschild Redb upgraded shares of Stryker to a "hold" rating in a research note on Thursday, September 18th. Weiss Ratings restated a "buy (b-)" rating on shares of Stryker in a research note on Wednesday, October 8th. Evercore ISI cut their target price on shares of Stryker from $418.00 to $410.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 7th. Wells Fargo & Company upped their target price on shares of Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Redburn Partners set a $420.00 target price on shares of Stryker in a research note on Thursday, September 18th. Fifteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, Stryker has a consensus rating of "Moderate Buy" and a consensus target price of $431.76.

Insider Activity at Stryker

In other 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 directly owned 12,511 shares of the company's stock, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by corporate insiders.

Stryker Stock Performance

Shares of SYK opened at $374.67 on Friday. The stock has a 50 day moving average price of $379.40 and a 200 day moving average price of $378.77. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $143.24 billion, a price-to-earnings ratio of 49.63, a price-to-earnings-growth ratio of 2.70 and a beta of 0.94. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.07 by $0.06. The firm had revenue of $6.02 billion during 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 firm's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Research analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

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

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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