Stryker Corporation $SYK Shares Sold by USS Investment Management Ltd

Key Points

• USS Investment Management Ltd reduced its stake in Stryker Corporation by 13.9%, holding 55,482 shares valued at approximately $20.66 million following the sale of 8,949 shares.
• Multiple analysts have recently upgraded Stryker, with fifteen giving it a Buy rating and the consensus price target now set at $430.10.
• Stryker reported strong earnings, exceeding estimates with $3.13 earnings per share and $6.02 billion in revenue for the last quarter, reflecting an 11.1% year-over-year growth.

USS Investment Management Ltd lowered its stake in Stryker Corporation (NYSE:SYK - Free Report) by 13.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,482 shares of the medical technology company's stock after selling 8,949 shares during the period. USS Investment Management Ltd's holdings in Stryker were worth $20,659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Continuum Advisory LLC raised its position in shares of Stryker by 5.8% during the 1st quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company's stock worth $198,000 after acquiring an additional 29 shares in the last quarter. Oakworth Capital Inc. raised its position in shares of Stryker by 0.5% during the 1st quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock worth $2,283,000 after acquiring an additional 29 shares in the last quarter. Strategy Asset Managers LLC raised its position in shares of Stryker by 1.4% during the 1st quarter. Strategy Asset Managers LLC now owns 2,134 shares of the medical technology company's stock worth $794,000 after acquiring an additional 29 shares in the last quarter. Tritonpoint Wealth LLC raised its position in shares of Stryker by 0.7% during the 1st quarter. Tritonpoint Wealth LLC now owns 4,042 shares of the medical technology company's stock worth $1,508,000 after acquiring an additional 30 shares in the last quarter. Finally, Monetary Management Group Inc. raised its position in shares of Stryker by 0.4% during the 1st quarter. Monetary Management Group Inc. now owns 7,668 shares of the medical technology company's stock worth $2,854,000 after acquiring an additional 30 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Truist Financial set a $415.00 target price on Stryker and gave the stock a "hold" rating in a research report on Monday, August 4th. Needham & Company LLC raised their price target on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Evercore ISI raised their price target on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. BTIG Research restated a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Finally, Citigroup restated a "buy" rating and set a $455.00 price target (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Stryker currently has a consensus rating of "Moderate Buy" and a consensus target price of $431.42.

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 stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the sale, the director directly owned 3,222,108 shares in the company, valued at $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 available through this link. 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 value of $195,305.00. Following the completion of the sale, the insider owned 12,511 shares in the company, valued at approximately $4,886,921.71. This trade represents a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.20% of the stock is owned by insiders.

Stryker Stock Performance

Shares of SYK stock traded down $9.54 during midday trading on Wednesday, hitting $383.22. The company had a trading volume of 931,653 shares, compared to its average volume of 1,399,762. The company's 50 day simple moving average is $389.39 and its 200 day simple moving average is $379.67. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19. The stock has a market cap of $146.51 billion, a price-to-earnings ratio of 50.76, a PEG ratio of 2.86 and a beta of 0.93. 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 announced its earnings results 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. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. During the same period last year, the business posted $2.81 EPS. The company's revenue was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Research analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be paid 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%.

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.