Stryker Corporation $SYK Shares Sold by Sandler Capital Management

Key Points

• Sandler Capital Management significantly reduced its stake in Stryker Corporation by 48.8% in the first quarter, now holding 16,591 shares valued at approximately $6.18 million.
• Stryker reported a better-than-expected quarterly earnings per share of $3.13, surpassing estimates, with a revenue of $6.02 billion, up 11.1% year-over-year.
• The company announced a quarterly dividend of $0.84 per share, which will be paid on October 31st, reflecting a 0.9% dividend yield.

Sandler Capital Management trimmed its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 48.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,591 shares of the medical technology company's stock after selling 15,828 shares during the period. Stryker makes up 1.5% of Sandler Capital Management's portfolio, making the stock its 14th biggest position. Sandler Capital Management's holdings in Stryker were worth $6,176,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Capital A Wealth Management LLC acquired a new position in Stryker during the 4th quarter worth $26,000. Goodman Advisory Group LLC bought a new position in shares of Stryker in the 1st quarter worth about $32,000. City Holding Co. lifted its position in shares of Stryker by 528.6% in the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after buying an additional 74 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new position in shares of Stryker in the 1st quarter worth about $40,000. Finally, Cornerstone Planning Group LLC lifted its position in shares of Stryker by 46.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 127 shares of the medical technology company's stock worth $45,000 after buying an additional 40 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SYK shares. Citigroup restated a "buy" rating and issued a $455.00 price target (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. BTIG Research restated a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Wells Fargo & Company raised their price target on shares of Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Truist Financial set a $415.00 price target on shares of Stryker and gave the stock a "hold" rating in a research report on Monday, August 4th. Finally, Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Fifteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Stryker has a consensus rating of "Moderate Buy" and an average target price of $430.10.

Stryker Stock Performance

NYSE:SYK traded down $0.54 during mid-day trading on Tuesday, hitting $392.57. The stock had a trading volume of 1,024,685 shares, compared to its average volume of 1,042,564. The stock has a market capitalization of $150.08 billion, a price-to-earnings ratio of 52.00, a P/E/G ratio of 2.86 and a beta of 0.93. The company has a 50 day simple moving average of $389.39 and a 200-day simple moving average of $379.67. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. Stryker's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm posted $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, research analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend 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%.

Insider Activity

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the transaction, the director owned 3,222,108 shares of the company's stock, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Viju Menon sold 500 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $390.61, for a total transaction of $195,305.00. Following the transaction, the insider directly owned 12,511 shares in the company, valued at approximately $4,886,921.71. The trade was a 3.84% decrease in their position. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by company insiders.

About Stryker

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.