Truist Financial Corp Has $42.73 Million Stock Position in Stryker Corporation $SYK

Truist Financial Corp increased its holdings in shares of Stryker Corporation (NYSE:SYK) by 3.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 107,995 shares of the medical technology company’s stock after buying an additional 3,656 shares during the quarter. Truist Financial Corp’s holdings in Stryker were worth $42,726,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SYK. Goodman Advisory Group LLC bought a new stake in shares of Stryker during the 1st quarter valued at approximately $32,000. City Holding Co. grew its stake in shares of Stryker by 528.6% during 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. Ridgewood Investments LLC increased its holdings in shares of Stryker by 48.4% during the second quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock worth $36,000 after buying an additional 30 shares in the last quarter. Ransom Advisory Ltd bought a new position in shares of Stryker in the 1st quarter valued at $37,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of Stryker during the 1st quarter valued at $40,000. Institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Needham & Company LLC increased their target price on Stryker from $442.00 to $448.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Redburn Partners set a $420.00 price objective on shares of Stryker in a report on Thursday, September 18th. Wall Street Zen downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Evercore ISI upped their price target on shares of Stryker from $390.00 to $415.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company lifted 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. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $430.33.

Insiders Place Their Bets

In other news, insider Viju Menon sold 500 shares of the firm’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 directly owned 12,511 shares in the company, valued at $4,886,921.71. This trade represents a 3.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director directly 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Stryker Price Performance

Shares of NYSE SYK opened at $366.50 on Friday. The company has a market capitalization of $140.12 billion, a PE ratio of 48.54, a P/E/G ratio of 2.62 and a beta of 0.94. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19. The firm has a fifty day simple moving average of $383.47 and a 200 day simple moving average of $378.96.

Stryker (NYSE:SYK) last announced 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 return on equity of 23.94% and a net margin of 12.25%.The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same quarter in the prior year, the company earned $2.81 EPS. The firm’s revenue for the quarter 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, sell-side analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.36 annualized dividend and a yield of 0.9%. 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.