EFG Asset Management North America Corp. Sells 1,994 Shares of Stryker Corporation $SYK

EFG Asset Management North America Corp. lessened its holdings in Stryker Corporation (NYSE:SYK) by 23.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,403 shares of the medical technology company’s stock after selling 1,994 shares during the quarter. EFG Asset Management North America Corp.’s holdings in Stryker were worth $2,384,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Capital A Wealth Management LLC bought a new stake in shares of Stryker in the fourth quarter valued at about $26,000. Goodman Advisory Group LLC bought a new stake in Stryker during the first quarter worth about $32,000. City Holding Co. lifted its position in Stryker by 528.6% during the first 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 period. Smallwood Wealth Investment Management LLC bought a new stake in Stryker during the first quarter worth about $40,000. Finally, Cornerstone Planning Group LLC lifted its position in Stryker by 46.0% during the first quarter. Cornerstone Planning Group LLC now owns 127 shares of the medical technology company’s stock worth $45,000 after purchasing an additional 40 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Performance

Shares of SYK stock opened at $388.14 on Thursday. The company has a market cap of $148.39 billion, a price-to-earnings ratio of 51.41, a price-to-earnings-growth ratio of 2.85 and a beta of 0.93. 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 firm has a 50 day moving average of $389.48 and a 200-day moving average of $379.51.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating 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 analysts’ expectations of $5.92 billion. During the same period last year, the business earned $2.81 EPS. The business’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. On average, equities analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

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

Insider Activity

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the company’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 of the company’s stock, valued at $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Viju Menon sold 500 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider 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 disclosure for this sale can be found here. Company insiders own 5.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Truist Financial set a $415.00 target price on shares of Stryker and gave the stock a “hold” rating in a report on Monday, August 4th. BTIG Research reaffirmed a “buy” rating on shares of Stryker in a research note on Monday, July 14th. Evercore ISI upped their price objective on Stryker from $390.00 to $415.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. Finally, Wells Fargo & Company increased 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. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.