Harold Davidson & Associates Inc. Decreases Position in Stryker Corporation $SYK

Harold Davidson & Associates Inc. cut its position in Stryker Corporation (NYSE:SYK) by 2.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 8,795 shares of the medical technology company’s stock after selling 200 shares during the quarter. Stryker accounts for approximately 1.8% of Harold Davidson & Associates Inc.’s investment portfolio, making the stock its 15th biggest holding. Harold Davidson & Associates Inc.’s holdings in Stryker were worth $3,274,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Capital A Wealth Management LLC purchased a new position in Stryker in the fourth quarter worth about $26,000. Goodman Advisory Group LLC purchased a new position in Stryker in the first quarter worth about $32,000. City Holding Co. raised its holdings in Stryker by 528.6% in the first quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock worth $33,000 after buying an additional 74 shares during the last quarter. Ransom Advisory Ltd purchased a new position in Stryker in the first quarter worth about $37,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in Stryker in the first quarter worth about $40,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Performance

Shares of NYSE SYK opened at $388.68 on Friday. The firm has a 50 day moving average of $389.15 and a 200 day moving average of $379.70. 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 firm has a market capitalization of $148.60 billion, a price-to-earnings ratio of 51.48, a price-to-earnings-growth ratio of 2.76 and a beta of 0.93. 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, beating the consensus estimate of $3.07 by $0.06. The company had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, research analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

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 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 payout ratio is 44.50%.

Insider Activity at Stryker

In other Stryker news, insider Viju Menon sold 500 shares of Stryker stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $390.61, for a total transaction of $195,305.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction that occurred on 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 transaction, the director directly owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This represents a 5.84% decrease in their position. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

SYK has been the subject of several recent analyst reports. Needham & Company LLC lifted their target price on shares of Stryker from $442.00 to $448.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Evercore ISI lifted their price target on shares of Stryker from $390.00 to $415.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. BTIG Research reiterated a “buy” rating on shares of Stryker in a research note on Monday, July 14th. Truist Financial set a $415.00 price target on shares of Stryker and gave the stock a “hold” rating in a research note on Monday, August 4th. Finally, Citigroup reiterated a “buy” rating and issued a $455.00 price target (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $431.42.

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.