Wilmington Savings Fund Society FSB Sells 1,007 Shares of Stryker Corporation $SYK

Key Points

• Wilmington Savings Fund Society FSB sold 1,007 shares of Stryker Corporation, reducing its stake by 2.4% to a total of 41,496 shares valued at approximately $16.4 million.
• Director Ronda E. Stryker sold 200,000 shares for $75.29 million, reducing her ownership in the company by 5.84%.
• Stryker has a current consensus rating of "Moderate Buy" with an average price target of $432.14, according to several investment analysts.

Wilmington Savings Fund Society FSB decreased its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 2.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,496 shares of the medical technology company's stock after selling 1,007 shares during the quarter. Wilmington Savings Fund Society FSB's holdings in Stryker were worth $16,417,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Founders Grove Wealth Partners LLC bought a new position in Stryker during the 2nd quarter worth approximately $201,000. Harbour Trust & Investment Management Co boosted its stake in Stryker by 0.7% during the 2nd quarter. Harbour Trust & Investment Management Co now owns 41,754 shares of the medical technology company's stock worth $16,519,000 after acquiring an additional 276 shares during the last quarter. Axxcess Wealth Management LLC boosted its stake in Stryker by 10.9% during the 2nd quarter. Axxcess Wealth Management LLC now owns 5,793 shares of the medical technology company's stock worth $2,292,000 after acquiring an additional 570 shares during the last quarter. Revolve Wealth Partners LLC bought a new position in Stryker in the second quarter valued at approximately $200,000. Finally, NorthRock Partners LLC lifted its stake in Stryker by 0.3% in the second quarter. NorthRock Partners LLC now owns 15,986 shares of the medical technology company's stock valued at $6,324,000 after buying an additional 41 shares in the last quarter. Institutional investors own 77.09% of the company's stock.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of the business's 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 directly owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Viju Menon sold 500 shares of the business's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the transaction, the insider owned 12,511 shares in the company, valued at approximately $4,886,921.71. The trade was 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 currently owned by insiders.

Wall Street Analyst Weigh In

SYK has been the topic of a number of research reports. Redburn Partners set a $420.00 price target on shares of Stryker in a research note on Thursday, September 18th. Wall Street Zen lowered shares of Stryker from a "buy" rating to a "hold" rating in a research note on Friday, September 26th. UBS Group set a $408.00 price target on shares of Stryker in a research note on Monday. Truist Financial set a $415.00 price target on shares of Stryker and gave the company a "hold" rating in a research note on Monday, August 4th. Finally, Rothschild & Co Redburn began coverage on shares of Stryker in a research note on Thursday, September 18th. They issued a "neutral" rating and a $420.00 price target on the stock. Fifteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Stryker currently has a consensus rating of "Moderate Buy" and an average target price of $432.14.

Stryker Price Performance

Shares of SYK opened at $364.95 on Tuesday. The company has a market cap of $139.52 billion, a price-to-earnings ratio of 48.34, a PEG ratio of 2.63 and a beta of 0.94. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19. The company's fifty day simple moving average is $379.93 and its 200 day simple moving average is $378.91. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70.

Stryker (NYSE:SYK - Get Free Report) last issued its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, topping analysts' consensus estimates of $3.07 by $0.06. The business had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, research analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company 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. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker's 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.

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