Stryker Corporation $SYK Stake Trimmed by Chilton Capital Management LLC

Key Points

• Chilton Capital Management cut its Stryker stake by 95.8% in the second quarter, selling 77,653 shares and retaining 3,426 shares worth approximately $1.08 million. Institutional investors collectively own 77.09% of the company.
• Analysts remain broadly optimistic, with a consensus “Moderate Buy” rating and an average price target of $386.28, despite several firms recently lowering their targets.
• Stryker reported second-quarter EPS of $3.69, exceeding estimates, while revenue rose 9.4% year over year to $6.59 billion. The company also announced a quarterly dividend of $0.88 per share, representing a 1.0% annualized yield.

Chilton Capital Management LLC lessened its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 95.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,426 shares of the medical technology company's stock after selling 77,653 shares during the period. Chilton Capital Management LLC's holdings in Stryker were worth $1,079,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. River Wealth Advisors LLC lifted its position in shares of Stryker by 7.5% in the 2nd quarter. River Wealth Advisors LLC now owns 29,350 shares of the medical technology company's stock valued at $9,241,000 after acquiring an additional 2,048 shares in the last quarter. SmartHarvest Portfolios LLC grew its position in Stryker by 9.1% during the 2nd quarter. SmartHarvest Portfolios LLC now owns 1,413 shares of the medical technology company's stock worth $445,000 after purchasing an additional 118 shares in the last quarter. Ascent Group LLC raised its stake in Stryker by 17.1% during the 2nd quarter. Ascent Group LLC now owns 15,162 shares of the medical technology company's stock valued at $4,774,000 after purchasing an additional 2,211 shares during the period. Summit Securities Group LLC lifted its holdings in shares of Stryker by 1,296.5% in the second quarter. Summit Securities Group LLC now owns 796 shares of the medical technology company's stock valued at $251,000 after purchasing an additional 739 shares in the last quarter. Finally, TCW Group Inc. boosted its position in shares of Stryker by 1.8% in the second quarter. TCW Group Inc. now owns 6,084 shares of the medical technology company's stock worth $1,915,000 after buying an additional 109 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SYK. BMO Capital Markets started coverage on Stryker in a report on Wednesday, July 8th. They set an "outperform" rating and a $369.00 price target on the stock. Needham & Company LLC reduced their price objective on Stryker from $454.00 to $418.00 and set a "buy" rating for the company in a research note on Friday, May 1st. Truist Financial raised their price objective on Stryker from $330.00 to $340.00 and gave the stock a "hold" rating in a research report on Friday, July 31st. BTIG Research lowered their target price on Stryker from $371.00 to $358.00 and set a "buy" rating on the stock in a research note on Friday, July 31st. Finally, Citizens Jmp dropped their target price on Stryker from $440.00 to $400.00 and set a "market outperform" rating on the stock in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $386.28.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 310,000 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $312.23, for a total value of $96,791,300.00. Following the completion of the sale, the director owned 1,924,880 shares of the company's stock, valued at approximately $601,005,282.40. The trade was a 13.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Robert S. Fletcher sold 4,544 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $306.87, for a total value of $1,394,417.28. Following the completion of the transaction, the vice president owned 10,582 shares in the company, valued at $3,247,298.34. This represents a 30.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.60% of the stock is owned by company insiders.

Stryker Trading Down 0.7%

Stryker stock opened at $338.80 on Friday. Stryker Corporation has a 12 month low of $281.00 and a 12 month high of $396.86. The company has a quick ratio of 1.33, a current ratio of 2.16 and a debt-to-equity ratio of 0.59. The stock has a market cap of $129.95 billion, a P/E ratio of 35.11, a P/E/G ratio of 2.17 and a beta of 0.76. The company's fifty day simple moving average is $324.61 and its 200-day simple moving average is $333.57.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The medical technology company reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.20. The business had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.58 billion. Stryker had a return on equity of 23.63% and a net margin of 14.43%.Stryker's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $3.13 earnings per share. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. As a group, sell-side analysts forecast that Stryker Corporation will post 15.02 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Stryker's dividend payout ratio is presently 36.48%.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons' offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.

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