Stryker Corporation $SYK Shares Sold by Bangor Savings Bank

Bangor Savings Bank lowered its stake in Stryker Corporation (NYSE:SYK) by 7.5% during the second quarter, Holdings Channel.com reports. The fund owned 5,655 shares of the medical technology company’s stock after selling 461 shares during the quarter. Bangor Savings Bank’s holdings in Stryker were worth $2,237,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Continuum Advisory LLC grew its stake in 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 during the period. Oakworth Capital Inc. grew its stake in Stryker by 0.5% in the 1st quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company’s stock valued at $2,283,000 after acquiring an additional 29 shares during the period. Strategy Asset Managers LLC grew its stake in Stryker by 1.4% in the 1st quarter. Strategy Asset Managers LLC now owns 2,134 shares of the medical technology company’s stock valued at $794,000 after acquiring an additional 29 shares during the period. Tritonpoint Wealth LLC grew its stake in Stryker by 0.7% in the 1st quarter. Tritonpoint Wealth LLC now owns 4,042 shares of the medical technology company’s stock valued at $1,508,000 after acquiring an additional 30 shares during the period. Finally, Monetary Management Group Inc. grew its stake in Stryker by 0.4% in the 1st quarter. Monetary Management Group Inc. now owns 7,668 shares of the medical technology company’s stock valued at $2,854,000 after acquiring an additional 30 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SYK shares. BTIG Research restated a “buy” rating on shares of Stryker in a report on Monday, July 14th. Evercore ISI raised their price objective on Stryker from $390.00 to $415.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Needham & Company LLC raised their price objective on Stryker from $442.00 to $448.00 and gave the company a “buy” rating in a report on Friday, August 1st. Citigroup restated a “buy” rating and issued a $455.00 price objective (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Finally, Truist Financial set a $415.00 price objective on Stryker and gave the company a “hold” rating in a report on Monday, August 4th. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $431.42.

Stryker Stock Down 1.4%

NYSE SYK opened at $383.32 on Friday. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The business’s fifty day simple moving average is $388.98 and its 200-day simple moving average is $379.57. The firm has a market cap of $146.55 billion, a PE ratio of 50.77, a P/E/G ratio of 2.80 and a beta of 0.93.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS 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 business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same quarter in the previous year, the firm earned $2.81 EPS. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, equities analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 44.50%.

Insider Transactions at Stryker

In other Stryker news, insider Viju Menon sold 500 shares of Stryker stock in a transaction dated 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 of the company’s stock, valued at $4,886,921.71. The trade was a 3.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total value of $75,290,000.00. Following the completion of the transaction, the director directly owned 3,222,108 shares of the company’s stock, valued at approximately $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 company insiders.

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.