Wealthfront Advisers LLC Sells 12,937 Shares of Stryker Corporation $SYK

Key Points

• Wealthfront Advisers cut its Stryker stake by 25.5% in the second quarter, selling 12,937 shares and retaining 37,818 shares valued at approximately $11.9 million. Institutional investors collectively own 77.09% of Stryker.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $386.28. One analyst rates the stock a Strong Buy, while 17 recommend Buy and six recommend Hold.
• Stryker recently exceeded quarterly earnings expectations, reporting $3.69 in EPS and $6.59 billion in revenue, with sales up 9.4% year over year. The company also declared a quarterly dividend of $0.88 per share, representing a 1.1% yield.

Wealthfront Advisers LLC lessened its position in Stryker Corporation (NYSE:SYK - Free Report) by 25.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 37,818 shares of the medical technology company's stock after selling 12,937 shares during the period. Wealthfront Advisers LLC's holdings in Stryker were worth $11,907,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strategic Wealth Advisors LLC increased its position in shares of Stryker by 50.4% during the second quarter. Strategic Wealth Advisors LLC now owns 197 shares of the medical technology company's stock valued at $62,000 after acquiring an additional 66 shares in the last quarter. First National Bank of Omaha increased its holdings in shares of Stryker by 61.4% in the 2nd quarter. First National Bank of Omaha now owns 8,129 shares of the medical technology company's stock worth $2,639,000 after purchasing an additional 3,092 shares in the last quarter. Navigoe LLC purchased a new position in shares of Stryker in the second quarter worth $34,000. Citizens Financial Group Inc. RI raised its stake in shares of Stryker by 3.8% in the second quarter. Citizens Financial Group Inc. RI now owns 67,075 shares of the medical technology company's stock worth $21,118,000 after purchasing an additional 2,464 shares during the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc boosted its position in shares of Stryker by 6.2% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 2,291 shares of the medical technology company's stock valued at $721,000 after buying an additional 134 shares during the last quarter. Institutional investors own 77.09% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Leerink Partners reduced their price target on shares of Stryker from $410.00 to $407.00 and set an "outperform" rating for the company in a research note on Friday, June 5th. Argus set a $370.00 target price on shares of Stryker in a report on Thursday, July 9th. BTIG Research cut their target price on shares of Stryker from $371.00 to $358.00 and set a "buy" rating for the company in a research report on Friday, July 31st. Truist Financial boosted their target price on shares of Stryker from $330.00 to $340.00 and gave the company a "hold" rating in a research note on Friday, July 31st. Finally, Citigroup reissued a "buy" rating on shares of Stryker in a report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $386.28.

Insider Activity

In related news, VP Robert S. Fletcher sold 4,544 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $306.87, for a total value of $1,394,417.28. Following the completion of the sale, the vice president directly owned 10,582 shares of the company's stock, valued at approximately $3,247,298.34. This represents a 30.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ronda E. Stryker sold 310,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $312.23, for a total transaction of $96,791,300.00. Following the sale, the director owned 1,924,880 shares in the company, valued at approximately $601,005,282.40. The trade was a 13.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 315,370 shares of company stock valued at $98,463,501 in the last ninety days. Corporate insiders own 4.60% of the company's stock.

Stryker Trading Up 0.1%

Shares of SYK stock opened at $331.96 on Wednesday. Stryker Corporation has a 1 year low of $281.00 and a 1 year high of $396.86. The firm has a fifty day moving average price of $325.56 and a 200-day moving average price of $333.05. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.16 and a quick ratio of 1.33. The company has a market cap of $127.33 billion, a price-to-earnings ratio of 34.40, a PEG ratio of 2.16 and a beta of 0.76.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The medical technology company reported $3.69 EPS for the quarter, topping the consensus estimate of $3.49 by $0.20. Stryker had a return on equity of 23.63% and a net margin of 14.43%.The firm had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.58 billion. During the same period in the prior year, the business posted $3.13 EPS. Stryker's revenue was up 9.4% on a year-over-year basis. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. As a group, equities analysts predict that Stryker Corporation will post 15.02 earnings per share for the current year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.52 annualized dividend and a dividend yield of 1.1%. Stryker's dividend payout ratio (DPR) is 36.48%.

Stryker Company Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons' offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.

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