Ameriprise Financial Inc. Sells 155,956 Shares of Stryker Corporation $SYK

Ameriprise Financial Inc. reduced its position in shares of Stryker Corporation (NYSE:SYK) by 10.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,380,710 shares of the medical technology company’s stock after selling 155,956 shares during the quarter. Ameriprise Financial Inc.’s holdings in Stryker were worth $514,415,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Stryker by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company’s stock worth $12,306,572,000 after buying an additional 361,136 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Stryker by 9.2% during the 1st 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 buying an additional 1,021,496 shares during the period. Northern Trust Corp boosted its holdings in shares of Stryker by 13.2% during the 4th quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company’s stock worth $1,298,426,000 after buying an additional 420,153 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Stryker by 13.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company’s stock worth $838,640,000 after buying an additional 261,058 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Stryker by 43,226.8% in the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company’s stock valued at $772,390,000 after purchasing an additional 2,070,133 shares during the period. 77.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SYK. JMP Securities reissued a “market perform” rating on shares of Stryker in a report on Monday, May 5th. Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Friday, July 18th. Wells Fargo & Company increased their price target on shares of Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a report on Friday, August 1st. BTIG Research reissued a “buy” rating on shares of Stryker in a report on Monday, July 14th. Finally, Needham & Company LLC raised their price objective on shares of Stryker from $442.00 to $448.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Fifteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $430.10.

Stryker Trading Down 1.8%

Shares of Stryker stock opened at $384.6550 on Friday. The stock has a market capitalization of $147.06 billion, a P/E ratio of 50.95, a price-to-earnings-growth ratio of 2.85 and a beta of 0.91. 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 company has a 50-day simple moving average of $387.17 and a 200 day simple moving average of $379.49. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19.

Stryker (NYSE:SYK) last announced its 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. The business had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the company posted $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Research analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently announced 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. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. Stryker’s dividend payout ratio (DPR) is 44.50%.

Insider Activity

In related news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the completion of the sale, the director owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.90% of the stock is owned by company 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.