Notis McConarty Edward Lowers Position in Stryker Corporation $SYK

Notis McConarty Edward lessened its holdings in Stryker Corporation (NYSE:SYK) by 4.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,106 shares of the medical technology company’s stock after selling 130 shares during the period. Notis McConarty Edward’s holdings in Stryker were worth $1,229,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SYK. Consolidated Portfolio Review Corp raised its holdings in Stryker by 4.2% in the 2nd quarter. Consolidated Portfolio Review Corp now owns 648 shares of the medical technology company’s stock worth $256,000 after acquiring an additional 26 shares during the last quarter. Sunflower Bank N.A. raised its stake in Stryker by 4.0% during the 2nd quarter. Sunflower Bank N.A. now owns 696 shares of the medical technology company’s stock valued at $275,000 after buying an additional 27 shares during the last quarter. Pitti Group Wealth Management LLC raised its stake in Stryker by 3.2% during the 2nd quarter. Pitti Group Wealth Management LLC now owns 861 shares of the medical technology company’s stock valued at $341,000 after buying an additional 27 shares during the last quarter. Sachetta LLC raised its stake in Stryker by 58.7% during the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after buying an additional 27 shares during the last quarter. Finally, Comprehensive Financial Consultants Institutional Inc. raised its stake in Stryker by 0.6% during the 2nd quarter. Comprehensive Financial Consultants Institutional Inc. now owns 4,546 shares of the medical technology company’s stock valued at $1,799,000 after buying an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Up 1.7%

SYK opened at $375.35 on Thursday. The firm has a 50-day simple moving average of $380.99 and a two-hundred day simple moving average of $378.83. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19. The company has a market capitalization of $143.50 billion, a PE ratio of 49.72, a price-to-earnings-growth ratio of 2.66 and a beta of 0.94. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70.

Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating the consensus estimate of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter in the prior year, the firm earned $2.81 EPS. The business’s revenue was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Analysts forecast 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 is currently 44.50%.

Analysts Set New Price Targets

SYK has been the subject of a number of research reports. BTIG Research reiterated 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 company a “hold” rating in a research note on Monday, August 4th. Redburn Partners set a $420.00 price objective on shares of Stryker in a research report on Thursday, September 18th. Needham & Company LLC boosted their price objective on shares of Stryker from $442.00 to $448.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Stryker in a research report on Wednesday. Fifteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $430.10.

Insider Activity

In other news, insider Viju Menon sold 500 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $390.61, for a total transaction of $195,305.00. Following the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction dated 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 sale, the director owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This represents a 5.84% 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 corporate insiders.

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.