Stryker Corporation $SYK Shares Sold by Cigna Investments Inc. New

Cigna Investments Inc. New trimmed its position in shares of Stryker Corporation (NYSE:SYK) by 6.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,386 shares of the medical technology company’s stock after selling 215 shares during the period. Cigna Investments Inc. New’s holdings in Stryker were worth $1,340,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sunflower Bank N.A. boosted its stake in Stryker by 4.0% during the 2nd quarter. Sunflower Bank N.A. now owns 696 shares of the medical technology company’s stock valued at $275,000 after purchasing an additional 27 shares during the period. Continuum Advisory LLC boosted its stake in Stryker by 5.8% during the 1st quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company’s stock valued at $198,000 after purchasing an additional 29 shares during the period. Oakworth Capital Inc. boosted its stake in Stryker by 0.5% during the 1st quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company’s stock valued at $2,283,000 after purchasing an additional 29 shares during the period. Strategy Asset Managers LLC boosted its stake in Stryker by 1.4% during the 1st quarter. Strategy Asset Managers LLC now owns 2,134 shares of the medical technology company’s stock valued at $794,000 after purchasing an additional 29 shares during the period. Finally, Tritonpoint Wealth LLC boosted its stake in Stryker by 0.7% during the 1st quarter. Tritonpoint Wealth LLC now owns 4,042 shares of the medical technology company’s stock valued at $1,508,000 after purchasing an additional 30 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Stock Down 1.3%

SYK stock opened at $373.12 on Wednesday. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The firm has a market cap of $142.65 billion, a PE ratio of 49.42, a P/E/G ratio of 2.72 and a beta of 0.93. The firm has a 50 day simple moving average of $386.91 and a 200 day simple moving average of $379.01. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06.

Stryker (NYSE:SYK) last released its earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $5.92 billion. During the same period in the prior year, the business earned $2.81 earnings per share. The business’s quarterly revenue was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Equities research analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors 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 44.50%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SYK. 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. Redburn Partners set a $420.00 price objective on shares of Stryker in a report on Thursday, September 18th. Evercore ISI increased their price objective on shares of Stryker from $390.00 to $415.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Rothschild & Co Redburn initiated coverage on shares of Stryker in a report on Thursday, September 18th. They issued a “neutral” rating and a $420.00 price objective for the company. Finally, Wells Fargo & Company increased their price objective on shares of Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $430.33.

Insider Activity at Stryker

In related news, insider Viju Menon sold 500 shares of the company’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 in the company, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of the company’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 transaction 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 approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by corporate insiders.

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.