QRG Capital Management Inc. Sells 25,621 Shares of Stryker Corporation $SYK

QRG Capital Management Inc. lessened its stake in shares of Stryker Corporation (NYSE:SYK) by 27.2% in the second quarter, Holdings Channel reports. The institutional investor owned 68,681 shares of the medical technology company’s stock after selling 25,621 shares during the period. QRG Capital Management Inc.’s holdings in Stryker were worth $27,172,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SYK. Nuveen LLC purchased a new stake in Stryker during the 1st quarter valued at $558,075,000. Price T Rowe Associates Inc. MD boosted its stake in Stryker by 9.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company’s stock valued at $4,515,847,000 after purchasing an additional 1,021,496 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Stryker by 66.7% during the 1st quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company’s stock valued at $511,152,000 after purchasing an additional 549,643 shares during the last quarter. Vanguard Group Inc. boosted its stake in Stryker by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company’s stock valued at $12,306,572,000 after purchasing an additional 361,136 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Stryker by 13.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company’s stock valued at $838,640,000 after purchasing an additional 261,058 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Price Performance

Shares of Stryker stock opened at $370.59 on Friday. Stryker Corporation has a one year low of $329.16 and a one year high of $406.19. The stock’s fifty day moving average is $382.81 and its 200 day moving average is $378.92. The stock has a market cap of $141.68 billion, a P/E ratio of 49.08, a P/E/G ratio of 2.64 and a beta of 0.94. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The company had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $5.92 billion. During the same period last year, the firm earned $2.81 EPS. Stryker’s revenue for the quarter was up 11.1% compared to the same quarter last year. 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 year.

Stryker Announces Dividend

The business 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 $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker’s dividend payout ratio (DPR) is currently 44.50%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. BTIG Research reiterated a “buy” rating on shares of Stryker in a research note on Monday, July 14th. Evercore ISI increased their target price on Stryker from $390.00 to $415.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Rothschild & Co Redburn initiated coverage on Stryker in a research note on Thursday, September 18th. They issued a “neutral” rating and a $420.00 price target on the stock. Wells Fargo & Company raised their price target on Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Finally, Wall Street Zen downgraded Stryker from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Fifteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $430.33.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction on 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 transaction, the director directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Viju Menon sold 500 shares of the firm’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $390.61, for a total value of $195,305.00. Following the completion of the transaction, the insider directly owned 12,511 shares in the company, valued at approximately $4,886,921.71. This represents 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

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.