Stryker Corporation $SYK Shares Sold by Figure 8 Investment Strategies LLC

Figure 8 Investment Strategies LLC lowered its position in shares of Stryker Corporation (NYSE:SYK) by 2.9% in the second quarter, Holdings Channel reports. The institutional investor owned 4,830 shares of the medical technology company’s stock after selling 142 shares during the quarter. Stryker comprises approximately 1.9% of Figure 8 Investment Strategies LLC’s holdings, making the stock its 19th largest position. Figure 8 Investment Strategies LLC’s holdings in Stryker were worth $1,911,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in SYK. Goodman Advisory Group LLC purchased a new stake in Stryker in the first quarter valued at $32,000. City Holding Co. increased its position in shares of Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock worth $33,000 after purchasing an additional 74 shares during the last quarter. Ridgewood Investments LLC raised its holdings in Stryker by 48.4% in the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock valued at $36,000 after buying an additional 30 shares during the period. Ransom Advisory Ltd acquired a new position in Stryker in the first quarter valued at about $37,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of Stryker during the first quarter valued at about $40,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Stock Performance

Shares of Stryker stock opened at $370.59 on Friday. The business has a 50-day simple moving average of $382.81 and a 200-day simple moving average of $378.92. The company has a market cap of $141.68 billion, a PE ratio of 49.08, a P/E/G ratio of 2.64 and a beta of 0.94. Stryker Corporation has a one year low of $329.16 and a one year high of $406.19. 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 issued its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter in the previous year, the firm earned $2.81 earnings per share. The firm’s quarterly 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, equities research analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The firm 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 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker’s dividend payout ratio is 44.50%.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of research analyst reports. Rothschild & Co Redburn began coverage on shares of Stryker in a research report on Thursday, September 18th. They set a “neutral” rating and a $420.00 price objective for the company. Rothschild Redb upgraded Stryker to a “hold” rating in a research report on Thursday, September 18th. Wells Fargo & Company boosted their price objective on Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Needham & Company LLC raised their target price on Stryker from $442.00 to $448.00 and gave the company a “buy” rating in a report on Friday, August 1st. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Stryker in a research note on Saturday, September 27th. Fifteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $430.33.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Viju Menon sold 500 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the completion of the transaction, the insider owned 12,511 shares in the company, valued at approximately $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.

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.