Welch & Forbes LLC Sells 3,424 Shares of Stryker Corporation $SYK

Key Points

• Welch & Forbes LLC trimmed its Stryker stake by 0.7% in the first quarter, selling 3,424 shares and leaving it with 509,055 shares valued at about $167.3 million. Stryker remains one of the firm’s largest holdings.
• Stryker’s latest earnings missed expectations, posting $2.60 EPS versus the $2.98 consensus and revenue of $6.02 billion versus $6.34 billion expected. The company still raised full-year guidance to 14.9-15.1 EPS.
• The stock rose 0.8% to $329.86 on Friday, while Wall Street remains generally upbeat with a Moderate Buy rating and an average price target of $392.87. Stryker also announced a quarterly dividend of $0.88 per share, payable July 31.

Welch & Forbes LLC lowered its position in Stryker Corporation (NYSE:SYK - Free Report) by 0.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 509,055 shares of the medical technology company's stock after selling 3,424 shares during the period. Stryker accounts for about 2.2% of Welch & Forbes LLC's holdings, making the stock its 9th biggest position. Welch & Forbes LLC owned approximately 0.13% of Stryker worth $167,271,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Citizens Financial Group Inc. RI grew its position in Stryker by 1.8% in the 1st quarter. Citizens Financial Group Inc. RI now owns 64,611 shares of the medical technology company's stock valued at $21,231,000 after purchasing an additional 1,165 shares during the period. Midwest Trust Co raised its holdings in Stryker by 2.2% during the first quarter. Midwest Trust Co now owns 39,027 shares of the medical technology company's stock worth $12,824,000 after buying an additional 832 shares during the last quarter. Simplicity Wealth LLC lifted its stake in shares of Stryker by 10.9% in the first quarter. Simplicity Wealth LLC now owns 827 shares of the medical technology company's stock valued at $272,000 after buying an additional 81 shares in the last quarter. Candriam S.C.A. lifted its stake in shares of Stryker by 1.6% in the first quarter. Candriam S.C.A. now owns 167,146 shares of the medical technology company's stock valued at $54,923,000 after buying an additional 2,694 shares in the last quarter. Finally, Osprey Private Wealth LLC grew its holdings in shares of Stryker by 1,398.7% during the first quarter. Osprey Private Wealth LLC now owns 10,491 shares of the medical technology company's stock valued at $3,447,000 after buying an additional 9,791 shares during the last quarter. Institutional investors own 77.09% of the company's stock.

Wall Street Analysts Forecast Growth

SYK has been the topic of a number of analyst reports. Canaccord Genuity Group lowered their target price on shares of Stryker from $435.00 to $400.00 and set a "buy" rating on the stock in a report on Friday, May 1st. Robert W. Baird set a $385.00 price objective on Stryker in a report on Friday, May 1st. Argus set a $370.00 price objective on Stryker in a research note on Thursday. Weiss Ratings lowered Stryker from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, May 4th. Finally, Wall Street Zen downgraded Stryker from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Stryker has an average rating of "Moderate Buy" and an average price target of $392.87.

Stryker Stock Up 0.8%

SYK stock traded up $2.75 during trading on Friday, reaching $329.86. The stock had a trading volume of 2,724,614 shares, compared to its average volume of 2,471,298. The company has a quick ratio of 1.25, a current ratio of 2.11 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $126.46 billion, a price-to-earnings ratio of 38.18, a P/E/G ratio of 2.11 and a beta of 0.77. Stryker Corporation has a one year low of $281.00 and a one year high of $404.87. The company's 50 day moving average is $310.12 and its two-hundred day moving average is $337.97.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Thursday, April 30th. The medical technology company reported $2.60 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.38). Stryker had a return on equity of 23.42% and a net margin of 13.20%.The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.34 billion. During the same period in the prior year, the business earned $2.84 EPS. Stryker's quarterly revenue was up 2.6% compared to the same quarter last year. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. Equities research analysts forecast that Stryker Corporation will post 14.98 EPS for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be given a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.52 annualized dividend and a yield of 1.1%. Stryker's payout ratio is currently 40.74%.

Insiders Place Their Bets

In other news, VP M Kathryn Fink sold 5,220 shares of Stryker stock in a transaction on Monday, May 11th. The stock was sold at an average price of $283.85, for a total transaction of $1,481,697.00. Following the sale, the vice president directly owned 13,137 shares in the company, valued at $3,728,937.45. The trade was a 28.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Robert S. Fletcher sold 4,544 shares of the business's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $306.87, for a total transaction of $1,394,417.28. Following the completion of the transaction, the vice president directly owned 10,582 shares in the company, valued at $3,247,298.34. This trade represents a 30.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 323,264 shares of company stock valued at $100,659,489. Insiders own 4.60% of the company's stock.

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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