Greenwood Capital Associates LLC Lowers Position in Stryker Corporation $SYK

Greenwood Capital Associates LLC lowered its holdings in Stryker Corporation (NYSE:SYK) by 3.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,057 shares of the medical technology company’s stock after selling 677 shares during the period. Greenwood Capital Associates LLC’s holdings in Stryker were worth $6,748,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Consolidated Portfolio Review Corp raised its holdings in shares of Stryker by 4.2% in the 2nd quarter. Consolidated Portfolio Review Corp now owns 648 shares of the medical technology company’s stock valued at $256,000 after acquiring an additional 26 shares in the last quarter. Sunflower Bank N.A. raised its holdings in shares of Stryker by 4.0% in the 2nd quarter. Sunflower Bank N.A. now owns 696 shares of the medical technology company’s stock valued at $275,000 after acquiring an additional 27 shares in the last quarter. Pitti Group Wealth Management LLC raised its holdings in shares of Stryker by 3.2% in the 2nd quarter. Pitti Group Wealth Management LLC now owns 861 shares of the medical technology company’s stock valued at $341,000 after acquiring an additional 27 shares in the last quarter. Continuum Advisory LLC raised its holdings in shares of Stryker by 5.8% in the 1st quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company’s stock valued at $198,000 after acquiring an additional 29 shares in the last quarter. Finally, Oakworth Capital Inc. increased its position in shares of Stryker by 0.5% during the 1st quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company’s stock valued at $2,283,000 after purchasing an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Up 0.6%

Shares of NYSE:SYK opened at $366.50 on Friday. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The stock has a fifty day simple moving average of $383.47 and a two-hundred day simple moving average of $378.96. 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 stock has a market capitalization of $140.12 billion, a price-to-earnings ratio of 48.54, a PEG ratio of 2.62 and a beta of 0.94.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The firm had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $5.92 billion. During the same quarter in the previous year, the business earned $2.81 earnings per share. The company’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. On average, research analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a $0.84 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. Stryker’s payout ratio is currently 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 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 completion of the sale, the director owned 3,222,108 shares of the company’s stock, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Viju Menon sold 500 shares of Stryker 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 sale, the insider directly owned 12,511 shares of the company’s stock, valued at $4,886,921.71. The trade was a 3.84% decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SYK has been the topic of several recent research reports. Rothschild Redb upgraded Stryker to a “hold” rating in a research report on Thursday, September 18th. Truist Financial set a $415.00 price objective on Stryker and gave the company a “hold” rating in a research report on Monday, August 4th. Wall Street Zen lowered Stryker from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Rothschild & Co Redburn initiated coverage on Stryker in a research report on Thursday, September 18th. They set a “neutral” rating and a $420.00 price objective on the stock. Finally, Needham & Company LLC increased their price objective on Stryker from $442.00 to $448.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and a consensus price target of $430.33.

Stryker 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.