Wellington Management Group LLP Sells 1,981,824 Shares of Stryker Corporation $SYK

Key Points

• Wellington Management Group LLP has reduced its stake in Stryker Corporation by 23.7%, selling nearly 2 million shares, and now holds approximately 1.68% of the company worth about $2.38 billion.
• Stryker reported $3.13 Earnings Per Share (EPS) for the last quarter, exceeding the consensus estimate, with a revenue increase of 11.1% year-over-year.
• The firm has declared a quarterly dividend of $0.84 per share, payable on October 31st, indicating a yield of 0.9% and a payout ratio of 44.50%.

Wellington Management Group LLP reduced its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 23.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,395,926 shares of the medical technology company's stock after selling 1,981,824 shares during the period. Wellington Management Group LLP owned about 1.68% of Stryker worth $2,380,883,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of SYK. GAMMA Investing LLC boosted its holdings in Stryker by 43,226.8% in the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock worth $772,390,000 after buying an additional 2,070,133 shares during the period. Nuveen LLC bought a new position in Stryker in the 1st quarter worth approximately $558,075,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Stryker in the 4th quarter worth approximately $154,140,000. Northern Trust Corp boosted its holdings in Stryker by 13.2% in the 4th quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company's stock worth $1,298,426,000 after buying an additional 420,153 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Stryker by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock worth $12,306,572,000 after purchasing an additional 361,136 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Stryker Price Performance

Shares of Stryker stock traded up $2.0650 on Wednesday, hitting $392.0050. 1,388,344 shares of the company traded hands, compared to its average volume of 1,382,405. The firm's 50-day simple moving average is $387.09 and its 200 day simple moving average is $379.54. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The company has a market cap of $149.87 billion, a P/E ratio of 51.92, a P/E/G ratio of 2.83 and a beta of 0.91. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company posted $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

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

Insider Activity at Stryker

In related 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 transaction, the director owned 3,222,108 shares of the company's stock, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.90% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a research note on Monday, May 5th. BTIG Research reiterated a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Wells Fargo & Company increased their target price on shares of Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Needham & Company LLC increased their target price on shares of Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, JMP Securities reiterated a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Fifteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $430.10.

Stryker Company 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.