Cullen Investment Group LTD. Sells 122 Shares of Stryker Corporation $SYK

Cullen Investment Group LTD. reduced its stake in Stryker Corporation (NYSE:SYK) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,994 shares of the medical technology company’s stock after selling 122 shares during the period. Cullen Investment Group LTD.’s holdings in Stryker were worth $4,745,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SYK. Brighton Jones LLC increased its position in shares of Stryker by 15.4% during the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock worth $1,643,000 after acquiring an additional 609 shares in the last quarter. Gotham Asset Management LLC increased its position in shares of Stryker by 139.8% during the fourth quarter. Gotham Asset Management LLC now owns 4,251 shares of the medical technology company’s stock worth $1,531,000 after acquiring an additional 2,478 shares in the last quarter. Nomura Holdings Inc. increased its position in shares of Stryker by 220.2% during the fourth quarter. Nomura Holdings Inc. now owns 15,925 shares of the medical technology company’s stock worth $5,734,000 after acquiring an additional 10,951 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Stryker by 12.3% during the fourth quarter. ProShare Advisors LLC now owns 51,940 shares of the medical technology company’s stock worth $18,701,000 after acquiring an additional 5,686 shares in the last quarter. Finally, Rafferty Asset Management LLC increased its position in shares of Stryker by 11.9% during the fourth quarter. Rafferty Asset Management LLC now owns 38,909 shares of the medical technology company’s stock worth $14,009,000 after acquiring an additional 4,134 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total value of $75,290,000.00. Following the sale, the director owned 3,222,108 shares of the company’s stock, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 transaction of $195,305.00. Following the completion of the sale, the insider directly owned 12,511 shares in the company, valued at approximately $4,886,921.71. This trade represents a 3.84% decrease in their position. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Stryker Stock Down 1.4%

SYK opened at $383.32 on Friday. 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 stock has a market cap of $146.55 billion, a price-to-earnings ratio of 50.77, a PEG ratio of 2.80 and a beta of 0.93. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19. The company’s 50-day moving average price is $388.98 and its two-hundred day moving average price is $379.65.

Stryker (NYSE:SYK) last released its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $3.07 by $0.06. The firm had revenue of $6.02 billion for 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 company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, equities analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker’s payout ratio is presently 44.50%.

Analysts Set New Price Targets

Several research firms recently weighed in on SYK. Citigroup restated a “buy” rating and set a $455.00 price target (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Truist Financial set a $415.00 price target on shares of Stryker and gave the stock a “hold” rating in a report on Monday, August 4th. BTIG Research restated a “buy” rating on shares of Stryker in a report on Monday, July 14th. Wells Fargo & Company boosted their price target on shares of Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Finally, Wall Street Zen upgraded shares of Stryker from a “hold” rating to a “buy” rating in a report on Friday, July 18th. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $431.42.

Stryker 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.