TD Asset Management Inc Lowers Stock Position in Stryker Corporation $SYK

Key Points

• TD Asset Management cut its Stryker position by 38.2% in the fourth quarter, ending with 615,132 shares worth about $216.2 million.
• Several insiders sold shares recently, including VP Robert S. Fletcher and director Ronda E. Stryker; insiders have sold 323,264 shares worth roughly $100.7 million over the past 90 days.
• Stryker’s latest earnings missed estimates, with EPS of $2.60 versus $2.98 expected and revenue of $6.02 billion versus $6.34 billion expected, even as analysts still rate the stock Moderate Buy on average.

TD Asset Management Inc lessened its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 38.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 615,132 shares of the medical technology company's stock after selling 380,023 shares during the quarter. TD Asset Management Inc owned 0.16% of Stryker worth $216,200,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Godfrey Financial Associates Inc. purchased a new position in shares of Stryker in the fourth quarter valued at approximately $26,000. United Financial Planning Group LLC acquired a new stake in Stryker in the third quarter valued at approximately $27,000. CGC Financial Services LLC acquired a new stake in Stryker in the fourth quarter valued at approximately $29,000. Strive Asset Management LLC acquired a new stake in Stryker in the third quarter valued at approximately $30,000. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in Stryker in the third quarter valued at approximately $34,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SYK shares. Wall Street Zen cut shares of Stryker from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Barclays reduced their target price on shares of Stryker from $469.00 to $394.00 and set an "overweight" rating on the stock in a report on Monday, May 4th. BTIG Research reduced their target price on shares of Stryker from $397.00 to $379.00 and set a "buy" rating on the stock in a report on Friday, May 1st. Weiss Ratings cut shares of Stryker from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, May 4th. Finally, Citigroup reduced their target price on shares of Stryker from $420.00 to $385.00 and set a "buy" rating on the stock in a report on Tuesday, April 7th. Sixteen 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 an average rating of "Moderate Buy" and an average price target of $395.48.

Insider Activity

In other news, VP Robert S. Fletcher sold 4,544 shares of Stryker stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $306.87, for a total value of $1,394,417.28. Following the transaction, the vice president directly owned 10,582 shares of the company's stock, valued at $3,247,298.34. The trade was a 30.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ronda E. Stryker sold 310,000 shares of Stryker stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $312.23, for a total transaction of $96,791,300.00. Following the completion of the transaction, the director directly owned 1,924,880 shares in the company, valued at $601,005,282.40. The trade was a 13.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 323,264 shares of company stock valued at $100,659,489 in the last ninety days. 4.60% of the stock is currently owned by company insiders.

Stryker Stock Up 0.8%

SYK stock opened at $295.63 on Thursday. The company has a current ratio of 2.11, a quick ratio of 1.25 and a debt-to-equity ratio of 0.62. Stryker Corporation has a twelve month low of $281.00 and a twelve month high of $404.87. The company's 50 day moving average is $319.41 and its two-hundred day moving average is $346.58. The stock has a market cap of $113.33 billion, a P/E ratio of 34.22, a PEG ratio of 1.85 and a beta of 0.78.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Thursday, April 30th. The medical technology company reported $2.60 EPS for the quarter, missing analysts' consensus estimates of $2.98 by ($0.38). The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.34 billion. Stryker had a net margin of 13.20% and a return on equity of 23.42%. The business's revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.84 earnings per share. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. Research analysts expect that Stryker Corporation will post 14.98 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, June 30th. Stryker's payout ratio is presently 40.74%.

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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