Plato Investment Management Ltd Trims Stock Position in Stryker Corporation $SYK

Plato Investment Management Ltd reduced its stake in Stryker Corporation (NYSE:SYK) by 7.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,434 shares of the medical technology company’s stock after selling 861 shares during the quarter. Plato Investment Management Ltd’s holdings in Stryker were worth $4,302,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SYK. Advisory Alpha LLC increased its stake in Stryker by 11.7% in the 1st quarter. Advisory Alpha LLC now owns 3,240 shares of the medical technology company’s stock valued at $1,206,000 after buying an additional 339 shares during the period. Alaethes Wealth LLC boosted its holdings in shares of Stryker by 3.0% in the first quarter. Alaethes Wealth LLC now owns 4,673 shares of the medical technology company’s stock valued at $1,743,000 after acquiring an additional 135 shares in the last quarter. SCS Capital Management LLC purchased a new stake in shares of Stryker in the first quarter valued at about $2,419,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Stryker by 4.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,086,960 shares of the medical technology company’s stock worth $776,871,000 after purchasing an additional 83,954 shares in the last quarter. Finally, Palogic Value Management L.P. lifted its position in Stryker by 5.1% in the first quarter. Palogic Value Management L.P. now owns 1,067 shares of the medical technology company’s stock valued at $397,000 after purchasing an additional 52 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of Stryker 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 sale, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Viju Menon sold 500 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $390.61, for a total transaction 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. This trade represents a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SYK shares. Truist Financial set a $415.00 price objective on Stryker and gave the company a “hold” rating in a report on Monday, August 4th. Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. Wells Fargo & Company upped their price objective on Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Evercore ISI raised their target price on Stryker from $390.00 to $415.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Finally, Citigroup reaffirmed a “buy” rating and set a $455.00 price target (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $431.42.

Stryker Stock Performance

NYSE:SYK opened at $392.57 on Wednesday. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $150.08 billion, a P/E ratio of 52.00, a price-to-earnings-growth ratio of 2.86 and a beta of 0.93. The firm has a 50-day moving average price of $389.39 and a two-hundred day moving average price of $379.67. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19.

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, 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 business had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $5.92 billion. During the same period last year, the company posted $2.81 EPS. 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. As a group, research analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders 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 currently 44.50%.

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.