Truist Financial Corp Has $42.73 Million Stake in Stryker Corporation $SYK

Key Points

• Truist Financial Corp increased its stake in Stryker Corporation by 3.5% during the second quarter, totaling approximately $42.73 million in holdings.
• Insider transactions included Director Ronda E. Stryker selling 200,000 shares for about $75.29 million, resulting in a 5.84% decrease in her ownership.
• Stryker's recent quarterly earnings report showed an 11.1% revenue increase year-over-year, with earnings per share of $3.13, exceeding estimates.

Truist Financial Corp increased its stake in Stryker Corporation (NYSE:SYK - Free Report) by 3.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 107,995 shares of the medical technology company's stock after purchasing an additional 3,656 shares during the quarter. Truist Financial Corp's holdings in Stryker were worth $42,726,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Broadway Wealth Solutions Inc. bought a new stake in shares of Stryker during the 2nd quarter worth $279,000. Chicago Capital LLC lifted its position in Stryker by 0.5% during the 2nd quarter. Chicago Capital LLC now owns 197,394 shares of the medical technology company's stock worth $78,095,000 after acquiring an additional 975 shares during the last quarter. Paradiem LLC boosted its holdings in Stryker by 1.1% during the second quarter. Paradiem LLC now owns 31,413 shares of the medical technology company's stock valued at $12,428,000 after acquiring an additional 355 shares during the period. HCR Wealth Advisors grew its position in shares of Stryker by 5.4% in the second quarter. HCR Wealth Advisors now owns 8,513 shares of the medical technology company's stock valued at $3,368,000 after purchasing an additional 436 shares during the last quarter. Finally, Capital Investment Advisors LLC increased its stake in shares of Stryker by 1.8% in the second quarter. Capital Investment Advisors LLC now owns 3,299 shares of the medical technology company's stock worth $1,305,000 after purchasing an additional 59 shares during the period. Institutional investors and hedge funds own 77.09% of the company's stock.

Insider Transactions at Stryker

In other 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 sale, the director directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Viju Menon sold 500 shares of the company's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the sale, the insider owned 12,511 shares of the company's stock, valued at approximately $4,886,921.71. The trade was a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.90% of the company's stock.

Stryker Price Performance

Shares of NYSE SYK opened at $366.50 on Friday. The stock has a market capitalization of $140.12 billion, a price-to-earnings ratio of 48.54, a PEG ratio of 2.62 and a beta of 0.94. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The business has a 50-day moving average of $383.47 and a 200-day moving average of $378.96. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) 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 analyst estimates of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The business's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, sell-side analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

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

Analyst Upgrades and Downgrades

SYK has been the topic of a number of research analyst reports. Wall Street Zen lowered Stryker from a "buy" rating to a "hold" rating in a report on Friday, September 26th. BTIG Research reissued a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Wells Fargo & Company boosted their target price 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. Needham & Company LLC increased their price target on shares of Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, Truist Financial set a $415.00 price objective on shares of Stryker and gave the company a "hold" rating in a research note on Monday, August 4th. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $430.33.

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.

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