Stryker Corporation $SYK Shares Sold by CNB Bank

CNB Bank decreased its position in Stryker Corporation (NYSE:SYK) by 5.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,781 shares of the medical technology company’s stock after selling 96 shares during the period. CNB Bank’s holdings in Stryker were worth $705,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Nuveen LLC acquired a new stake in Stryker in the 1st quarter valued at approximately $558,075,000. Price T Rowe Associates Inc. MD grew its stake in shares of Stryker by 9.2% in the first 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 in the last quarter. Alliancebernstein L.P. increased its holdings in shares of Stryker by 66.7% during the first 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 period. Vanguard Group Inc. raised its stake in shares of Stryker by 1.1% during the first 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 in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Stryker by 13.1% in the first 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. Institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

SYK has been the topic of several research analyst reports. Barclays raised their target price on shares of Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a research note on Wednesday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Stryker in a research note on Friday. Wells Fargo & Company upped their target price on Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Rothschild Redb raised Stryker to a “hold” rating in a research note on Thursday, September 18th. Finally, Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Fifteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Stryker has an average rating of “Moderate Buy” and a consensus target price of $432.24.

Stryker Stock Down 0.3%

Shares of Stryker stock opened at $381.86 on Friday. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The firm has a market capitalization of $145.99 billion, a PE ratio of 50.58, a price-to-earnings-growth ratio of 2.76 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. The stock’s fifty day moving average is $379.84 and its 200-day moving average is $379.73.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $3.07 by $0.06. The firm had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.Stryker’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Equities analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a $0.84 dividend. 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 44.50%.

Insider Buying and Selling at Stryker

In other 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 completion of the sale, the director owned 3,222,108 shares of the company’s stock, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Viju Menon sold 500 shares of the company’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the transaction, the insider directly owned 12,511 shares in the company, 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 owned by 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.