Woodline Partners LP lessened its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 81.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,439 shares of the medical technology company's stock after selling 73,367 shares during the period. Woodline Partners LP's holdings in Stryker were worth $6,119,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of 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 during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Stryker by 9.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company's stock worth $4,515,847,000 after purchasing an additional 1,021,496 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Stryker by 13.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company's stock worth $838,640,000 after purchasing an additional 261,058 shares during the period. GAMMA Investing LLC lifted its stake in shares of 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 purchasing an additional 2,070,133 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Stryker by 1.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,015,374 shares of the medical technology company's stock worth $750,223,000 after acquiring an additional 30,329 shares during the period. Institutional investors own 77.09% of the company's stock.
Analysts Set New Price Targets
A number of research firms have commented on SYK. Citigroup restated a "buy" rating and set a $455.00 target price (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. BTIG Research restated a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Truist Financial set a $415.00 target price on shares of Stryker and gave the stock a "hold" rating in a research note on Monday, August 4th. Needham & Company LLC raised 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, Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $431.42.
Get Our Latest Report on SYK
Stryker Trading Down 1.4%
SYK stock opened at $383.32 on Friday. The firm has a fifty day moving average price of $388.98 and a 200 day moving average price of $379.65. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The firm has a market cap of $146.55 billion, a PE ratio of 50.77, a price-to-earnings-growth ratio of 2.80 and a beta of 0.93.
Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating analysts' consensus estimates of $3.07 by $0.06. The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. Stryker's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the firm posted $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Sell-side analysts anticipate 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. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker's dividend payout ratio (DPR) is 44.50%.
Insider Buying and Selling at Stryker
In related news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value 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. The trade was a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Viju Menon sold 500 shares of Stryker stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the completion of the sale, the insider owned 12,511 shares of the company's stock, valued at $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. 5.90% of the stock is currently owned by company insiders.
Stryker Company Profile
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Free Report)
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.
Further Reading
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