Martin Investment Management LLC Sells 48 Shares of Stryker Corporation $SYK

Martin Investment Management LLC decreased its position in Stryker Corporation (NYSE:SYK) by 0.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,438 shares of the medical technology company’s stock after selling 48 shares during the quarter. Stryker makes up approximately 1.8% of Martin Investment Management LLC’s portfolio, making the stock its 21st largest position. Martin Investment Management LLC’s holdings in Stryker were worth $7,236,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Continuum Advisory LLC lifted 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 worth $198,000 after purchasing an additional 29 shares in the last quarter. Oakworth Capital Inc. grew 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 in the last quarter. Strategy Asset Managers LLC increased its holdings in shares of Stryker by 1.4% in the first quarter. Strategy Asset Managers LLC now owns 2,134 shares of the medical technology company’s stock worth $794,000 after purchasing an additional 29 shares during the period. Rinkey Investments raised its position in shares of Stryker by 1.1% in the fourth quarter. Rinkey Investments now owns 2,712 shares of the medical technology company’s stock worth $976,000 after buying an additional 30 shares in the last quarter. Finally, Tritonpoint Wealth LLC boosted its stake in Stryker by 0.7% during the first quarter. Tritonpoint Wealth LLC now owns 4,042 shares of the medical technology company’s stock valued at $1,508,000 after buying an additional 30 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

SYK stock opened at $392.0050 on Thursday. The firm has a market cap of $149.87 billion, a P/E ratio of 51.92, a P/E/G ratio of 2.83 and a beta of 0.91. The firm’s fifty day moving average is $387.09 and its 200 day moving average is $379.54. Stryker Corporation has a 52 week low of $329.16 and a 52 week 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 posted its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (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 analyst estimates of $5.92 billion. During the same period in the prior year, the business posted $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. Research analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The business 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 dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 44.50%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.90% of the stock is owned by company insiders.

Analyst Ratings Changes

SYK has been the subject of several recent analyst reports. Needham & Company LLC boosted their target price on Stryker from $442.00 to $448.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. JMP Securities reissued a “market perform” rating on shares of Stryker in a report on Monday, May 5th. Evercore ISI upped their price objective on shares of Stryker from $390.00 to $415.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Wells Fargo & Company lifted their target price on shares of Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Finally, Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a research note on Monday, May 5th. Fifteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $430.10.

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.