Stryker Corporation $SYK Holdings Decreased by First Merchants Corp

First Merchants Corp trimmed its position in Stryker Corporation (NYSE:SYK) by 2.5% in the second quarter, Holdings Channel.com reports. The fund owned 57,691 shares of the medical technology company’s stock after selling 1,487 shares during the period. Stryker makes up approximately 0.9% of First Merchants Corp’s investment portfolio, making the stock its 28th largest position. First Merchants Corp’s holdings in Stryker were worth $22,824,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Sachetta LLC increased its holdings in shares of Stryker by 58.7% in the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 27 shares during the last quarter. Goodman Advisory Group LLC bought a new stake in shares of Stryker in the 1st quarter valued at approximately $32,000. City Holding Co. grew its stake in Stryker by 528.6% during the 1st 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 grew its stake in Stryker by 48.4% during the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock worth $36,000 after buying an additional 30 shares during the last quarter. Finally, Ransom Advisory Ltd bought a new position in Stryker during the 1st quarter worth $37,000. 77.09% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the completion of the transaction, the director owned 3,222,108 shares of the company’s stock, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Viju Menon sold 500 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the transaction, the insider directly owned 12,511 shares of the company’s stock, valued at $4,886,921.71. This represents a 3.84% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on SYK. BTIG Research restated a “buy” rating on shares of Stryker in a research note on Monday, July 14th. Evercore ISI lowered their price objective on Stryker from $418.00 to $410.00 and set an “outperform” rating for the company in a research note on Tuesday. Truist Financial set a $415.00 price objective on Stryker and gave the stock a “hold” rating in a research note on Monday, August 4th. Weiss Ratings restated a “buy (b-)” rating on shares of Stryker in a research note on Wednesday. Finally, Needham & Company LLC upped their price objective on Stryker from $442.00 to $448.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Fifteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and an average price target of $430.10.

Stryker Trading Up 1.7%

Shares of SYK stock opened at $375.35 on Thursday. The stock has a 50-day simple moving average of $380.99 and a 200 day simple moving average of $378.83. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The stock has a market capitalization of $143.50 billion, a P/E ratio of 49.72, a P/E/G ratio of 2.66 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 (NYSE:SYK) last announced its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share 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 business had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $5.92 billion. During the same quarter last year, the business posted $2.81 earnings per share. The company’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. On average, sell-side analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company 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 (DPR) 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.