True North Advisors LLC Decreases Stake in Stryker Corporation $SYK

Key Points

• True North Advisors LLC reduced its stake in Stryker Corporation by 7.9%, holding 8,017 shares valued at approximately $3.17 million after selling 685 shares in the 2nd quarter.
• Stryker reported earnings per share (EPS) of $3.13 for the last quarter, exceeding expectations, with revenue reaching $6.02 billion, marking an 11.1% year-over-year increase.
• The company announced a quarterly dividend of $0.84 to be paid on October 31st, which translates to an annualized yield of 0.9%.

True North Advisors LLC reduced its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 7.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,017 shares of the medical technology company's stock after selling 685 shares during the period. True North Advisors LLC's holdings in Stryker were worth $3,172,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Embree Financial Group purchased a new position in shares of Stryker in the second quarter worth about $224,000. Patron Partners LLC lifted its stake in shares of Stryker by 5.8% in the second quarter. Patron Partners LLC now owns 2,260 shares of the medical technology company's stock worth $894,000 after buying an additional 124 shares in the last quarter. American National Bank & Trust lifted its stake in shares of Stryker by 0.8% in the second quarter. American National Bank & Trust now owns 36,600 shares of the medical technology company's stock worth $14,480,000 after buying an additional 289 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its stake in shares of Stryker by 35.5% in the second quarter. Bank Pictet & Cie Europe AG now owns 147,365 shares of the medical technology company's stock worth $58,302,000 after buying an additional 38,612 shares in the last quarter. Finally, Bright Financial Advisors Inc. lifted its stake in shares of Stryker by 15.3% in the second quarter. Bright Financial Advisors Inc. now owns 22,345 shares of the medical technology company's stock worth $8,840,000 after buying an additional 2,963 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Price Performance

Stryker stock opened at $368.64 on Friday. The company's 50 day simple moving average is $386.11 and its 200-day simple moving average is $378.95. The company has a market capitalization of $140.93 billion, a price-to-earnings ratio of 48.83, a price-to-earnings-growth ratio of 2.68 and a beta of 0.93. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78.

Stryker (NYSE:SYK - Get Free Report) last released 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 business 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%. The business's revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, equities research analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently disclosed 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 is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. Stryker's payout ratio is 44.50%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Needham & Company LLC raised their price target on shares of Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Truist Financial set a $415.00 target price on shares of Stryker and gave the stock a "hold" rating in a research note on Monday, August 4th. Wells Fargo & Company lifted 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, Rothschild Redb raised shares of Stryker to a "hold" rating in a research note on Thursday, September 18th. Fourteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Stryker has an average rating of "Moderate Buy" and an average target price of $430.33.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 200,000 shares of Stryker 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 transaction, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. The trade was 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 hyperlink. Also, insider Viju Menon sold 500 shares of Stryker stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $390.61, for a total transaction of $195,305.00. Following the completion of the transaction, the insider owned 12,511 shares of the company's stock, valued at $4,886,921.71. This trade represents a 3.84% decrease in their position. The disclosure for this sale can be found here. Insiders own 5.90% of the company's stock.

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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