Watchman Group Inc. Sells 714 Shares of Stryker Corporation $SYK

Key Points

• Watchman Group Inc. reduced its stake in Stryker Corporation by 4.3% in the first quarter, now holding 15,983 shares valued at approximately $5,950,000.
• Analysts have given Stryker a consensus price target of $430.10, with the majority holding a "buy" rating on the stock.
• Stryker recently declared a quarterly dividend of $0.84 per share, set to be paid on October 31st, with a dividend yield of 0.9%.

Watchman Group Inc. trimmed its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 4.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,983 shares of the medical technology company's stock after selling 714 shares during the period. Stryker makes up about 1.7% of Watchman Group Inc.'s holdings, making the stock its 15th biggest holding. Watchman Group Inc.'s holdings in Stryker were worth $5,950,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Brighton Jones LLC lifted its position in shares of Stryker by 15.4% during the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock worth $1,643,000 after purchasing an additional 609 shares in the last quarter. CreativeOne Wealth LLC grew its position in Stryker by 24.4% in the 4th quarter. CreativeOne Wealth LLC now owns 2,586 shares of the medical technology company's stock worth $931,000 after purchasing an additional 508 shares during the last quarter. Guggenheim Capital LLC raised its stake in Stryker by 7.0% during the 4th quarter. Guggenheim Capital LLC now owns 7,579 shares of the medical technology company's stock valued at $2,729,000 after acquiring an additional 499 shares in the last quarter. Jump Financial LLC acquired a new stake in Stryker in the fourth quarter worth about $4,204,000. Finally, Gamco Investors INC. ET AL boosted its stake in Stryker by 17.1% during the 4th quarter. Gamco Investors INC. ET AL now owns 21,568 shares of the medical technology company's stock valued at $7,766,000 after purchasing an additional 3,150 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the completion of the sale, the director directly owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SYK has been the topic of a number of analyst reports. Roth Mkm lifted their price target on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Sanford C. Bernstein set a $450.00 target price on Stryker in a research report on Monday, May 5th. Wells Fargo & Company lifted their price target on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a report on Friday, August 1st. JMP Securities restated a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Finally, Citigroup reaffirmed a "buy" rating and issued a $455.00 price target (up previously from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Stryker currently has a consensus rating of "Moderate Buy" and an average price target of $430.10.

Stryker Trading Up 2.2%

NYSE SYK traded up $8.3540 during trading on Tuesday, reaching $389.9640. 1,655,063 shares of the stock traded hands, compared to its average volume of 1,434,516. The stock's 50-day moving average price is $386.77 and its 200 day moving average price is $379.38. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The firm has a market cap of $149.09 billion, a price-to-earnings ratio of 51.65, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS 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 firm had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. During the same quarter in the previous year, the business posted $2.81 EPS. The business's quarterly revenue was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

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