US Bancorp DE Cuts Stock Position in Stryker Corporation $SYK

Key Points

• US Bancorp DE has reduced its stake in Stryker Corporation by 4.2%, selling 7,702 shares and leaving it with a total of 173,952 shares valued at approximately $68.82 million.
• Stryker reported a quarterly earnings per share (EPS) of $3.13, surpassing the analyst consensus estimate of $3.07, alongside a year-over-year revenue growth of 11.1%.
• The company recently declared a quarterly dividend of $0.84 per share, which will be paid on October 31st, reflecting an annual dividend yield of 0.9%.

US Bancorp DE lessened its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 4.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 173,952 shares of the medical technology company's stock after selling 7,702 shares during the period. US Bancorp DE's holdings in Stryker were worth $68,822,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Consolidated Portfolio Review Corp lifted its stake in Stryker by 4.2% during the second quarter. Consolidated Portfolio Review Corp now owns 648 shares of the medical technology company's stock valued at $256,000 after purchasing an additional 26 shares during the last quarter. Sunflower Bank N.A. lifted its stake in Stryker by 4.0% during the second quarter. Sunflower Bank N.A. now owns 696 shares of the medical technology company's stock valued at $275,000 after purchasing an additional 27 shares during the last quarter. Pitti Group Wealth Management LLC lifted its stake in Stryker by 3.2% during the second quarter. Pitti Group Wealth Management LLC now owns 861 shares of the medical technology company's stock valued at $341,000 after purchasing an additional 27 shares during the last quarter. Sachetta LLC lifted its stake in Stryker by 58.7% during the second quarter. Sachetta LLC now owns 73 shares of the medical technology company's stock valued at $29,000 after purchasing an additional 27 shares during the last quarter. Finally, Comprehensive Financial Consultants Institutional Inc. lifted its stake in Stryker by 0.6% during the second quarter. Comprehensive Financial Consultants Institutional Inc. now owns 4,546 shares of the medical technology company's stock valued at $1,799,000 after purchasing an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Stock Down 1.4%

Stryker stock opened at $370.21 on Friday. The firm has a market cap of $141.53 billion, a PE ratio of 49.03, a P/E/G ratio of 2.70 and a beta of 0.94. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The firm's 50 day moving average price is $380.53 and its two-hundred day moving average price is $378.80. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping the consensus estimate of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same quarter in the prior year, the business posted $2.81 EPS. Stryker's quarterly revenue was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, research analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.84 per share. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. Stryker's dividend payout ratio is 44.50%.

Analyst Upgrades and Downgrades

SYK has been the subject of several research analyst reports. Weiss Ratings restated a "buy (b-)" rating on shares of Stryker in a research report on Wednesday. BTIG Research restated a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Evercore ISI reduced their price target on shares of Stryker from $418.00 to $410.00 and set an "outperform" rating for the company in a research report on Tuesday. Wells Fargo & Company upped their price target on shares of Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Wall Street Zen downgraded shares of Stryker from a "buy" rating to a "hold" rating in a research report on Friday, September 26th. Fifteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, Stryker presently has a consensus rating of "Moderate Buy" and an average price target of $430.10.

Insider Buying and Selling at Stryker

In other news, insider Viju Menon sold 500 shares of the stock in a transaction 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 transaction, the insider owned 12,511 shares in the company, valued at $4,886,921.71. This represents a 3.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on Wednesday, August 6th. The stock was 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 in the company, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company's stock.

Stryker 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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