Alpine Bank Wealth Management Reduces Position in Stryker Corporation $SYK

Alpine Bank Wealth Management lessened its position in shares of Stryker Corporation (NYSE:SYK) by 1.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,258 shares of the medical technology company’s stock after selling 42 shares during the quarter. Alpine Bank Wealth Management’s holdings in Stryker were worth $1,289,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Goodman Advisory Group LLC purchased a new position in Stryker during the 1st quarter worth approximately $32,000. City Holding Co. grew its stake in shares of Stryker by 528.6% in the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock valued at $33,000 after purchasing an additional 74 shares during the last quarter. Ridgewood Investments LLC grew its stake in shares of Stryker by 48.4% in the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock valued at $36,000 after purchasing an additional 30 shares during the last quarter. Ransom Advisory Ltd purchased a new position in shares of Stryker in the 1st quarter valued at approximately $37,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in shares of Stryker in the 1st quarter valued at approximately $40,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

Shares of NYSE SYK opened at $368.83 on Monday. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19. The business has a 50-day moving average of $385.71 and a 200-day moving average of $379.18. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. The company has a market capitalization of $141.01 billion, a price-to-earnings ratio of 48.85, a PEG ratio of 2.66 and a beta of 0.93.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, topping 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 company had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter in the prior year, the business earned $2.81 earnings per share. The company’s revenue was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, equities analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

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

Insider Activity

In other news, insider Viju Menon sold 500 shares of the company’s stock in a transaction dated Monday, August 25th. The stock was 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. This represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction dated 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 directly 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 position. The disclosure for this sale can be found here. 5.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on SYK shares. BTIG Research reiterated a “buy” rating on shares of Stryker in a research note on Monday, July 14th. Evercore ISI lifted their target price on Stryker from $390.00 to $415.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Truist Financial set a $415.00 target price on Stryker and gave the company a “hold” rating in a research note on Monday, August 4th. Rothschild & Co Redburn initiated coverage on Stryker in a research note on Thursday, September 18th. They issued a “neutral” rating and a $420.00 target price on the stock. Finally, Redburn Partners set a $420.00 price target on Stryker in a research note on Thursday, September 18th. Fourteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and an average price target of $430.33.

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.