OLD Point Trust & Financial Services N A Trims Stock Holdings in Stryker Corporation $SYK

OLD Point Trust & Financial Services N A cut its holdings in shares of Stryker Corporation (NYSE:SYK) by 45.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 182 shares of the medical technology company’s stock after selling 150 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in Stryker were worth $72,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in SYK. Mid American Wealth Advisory Group Inc. purchased a new position in Stryker during the second quarter worth about $26,000. Sachetta LLC lifted its position in 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 buying an additional 27 shares during the period. Goodman Advisory Group LLC purchased a new position in Stryker during the first quarter worth about $32,000. Ridgewood Investments LLC lifted its position in 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 during the period. Finally, Ransom Advisory Ltd purchased a new position in Stryker during the first quarter worth about $37,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Viju Menon sold 500 shares of Stryker stock in a transaction on Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the completion of the sale, the insider owned 12,511 shares of the company’s stock, valued at approximately $4,886,921.71. This trade represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total value of $75,290,000.00. Following the sale, 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 disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SYK shares. Evercore ISI lowered their target price on Stryker from $418.00 to $410.00 and set an “outperform” rating for the company in a research note on Tuesday, October 7th. Rothschild Redb raised Stryker to a “hold” rating in a report on Thursday, September 18th. Needham & Company LLC raised their price target on Stryker from $442.00 to $448.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Wells Fargo & Company raised their target price on Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Finally, Redburn Partners set a $420.00 target price on Stryker in a research report on Thursday, September 18th. Fifteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $432.24.

Stryker Stock Performance

Shares of Stryker stock opened at $387.84 on Thursday. The stock has a market cap of $148.27 billion, a PE ratio of 51.37, a price-to-earnings-growth ratio of 2.74 and a beta of 0.94. The business has a fifty day simple moving average of $379.74 and a 200-day simple moving average of $379.16. 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 12 month low of $329.16 and a 12 month high of $406.19.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping the consensus estimate of $3.07 by $0.06. The business had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.Stryker’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, sell-side analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend 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%.

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.