Robertson Stephens Wealth Management LLC Sells 40 Shares of Stryker Corporation $SYK

Robertson Stephens Wealth Management LLC trimmed its position in shares of Stryker Corporation (NYSE:SYK) by 6.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 601 shares of the medical technology company’s stock after selling 40 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Stryker were worth $238,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SYK. Sachetta LLC boosted its position in shares of Stryker by 58.7% during the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 27 shares in the last quarter. Goodman Advisory Group LLC bought a new position in shares of Stryker during the first quarter worth $32,000. Ridgewood Investments LLC boosted its position 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 purchasing an additional 30 shares in the last quarter. Ransom Advisory Ltd bought a new position in shares of Stryker during the first quarter worth $37,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of Stryker during the first quarter worth $40,000. 77.09% of the stock is owned by institutional investors.

Stryker Trading Down 1.5%

NYSE SYK opened at $364.77 on Monday. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The stock has a 50 day moving average of $380.25 and a 200-day moving average of $378.90. The company has a market cap of $139.45 billion, a PE ratio of 48.31, a PEG ratio of 2.63 and a beta of 0.94.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same period in the prior year, the firm posted $2.81 earnings per share. The company’s quarterly 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 research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a dividend of $0.84 per share. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. Stryker’s dividend payout ratio (DPR) is presently 44.50%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Evercore ISI dropped their price objective on shares of Stryker from $418.00 to $410.00 and set an “outperform” rating on the stock in a report on Tuesday, October 7th. Rothschild & Co Redburn assumed coverage on shares of Stryker in a report on Thursday, September 18th. They set a “neutral” rating and a $420.00 price objective on the stock. Redburn Partners set a $420.00 price objective on shares of Stryker in a report on Thursday, September 18th. Wall Street Zen lowered shares of Stryker from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Finally, Wells Fargo & Company raised their price objective on shares of Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Fifteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $430.10.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 200,000 shares of the business’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 transaction of $75,290,000.00. Following the transaction, the director directly owned 3,222,108 shares of the company’s stock, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Viju Menon sold 500 shares of the firm’s stock in a transaction 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 sale, 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. 5.90% of the stock is owned by insiders.

About Stryker

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.