Nisa Investment Advisors LLC Cuts Stock Position in Stryker Corporation $SYK

Nisa Investment Advisors LLC cut its stake in Stryker Corporation (NYSE:SYK) by 0.1% during the second quarter, HoldingsChannel reports. The firm owned 102,299 shares of the medical technology company’s stock after selling 126 shares during the period. Nisa Investment Advisors LLC’s holdings in Stryker were worth $40,558,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Nuveen LLC bought a new position in shares of Stryker during the 1st quarter worth approximately $558,075,000. Price T Rowe Associates Inc. MD boosted its holdings in Stryker by 9.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company’s stock worth $4,515,847,000 after buying an additional 1,021,496 shares in the last quarter. Alliancebernstein L.P. grew its position in Stryker by 66.7% during the first quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company’s stock valued at $511,152,000 after buying an additional 549,643 shares during the period. Vanguard Group Inc. increased its holdings in Stryker by 1.1% in the first quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company’s stock valued at $12,306,572,000 after buying an additional 361,136 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Stryker by 13.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company’s stock valued at $838,640,000 after acquiring an additional 261,058 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Stryker

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 SEC, which is accessible through the SEC website. Also, insider Viju Menon sold 500 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $390.61, for a total transaction of $195,305.00. Following the sale, the insider directly owned 12,511 shares of the company’s stock, valued at approximately $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 currently owned by company insiders.

Analysts Set New Price Targets

SYK has been the subject of a number of analyst reports. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Redburn Partners set a $420.00 price objective on Stryker in a research note on Thursday, September 18th. Truist Financial decreased their price target on Stryker from $415.00 to $407.00 and set a “hold” rating on the stock in a research note on Wednesday, October 15th. BTIG Research boosted their price target on shares of Stryker from $407.00 to $408.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Finally, Evercore ISI lowered their price target on Stryker from $418.00 to $410.00 and set an “outperform” rating for the company in a report on Tuesday, October 7th. Fifteen research 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 stock has an average rating of “Moderate Buy” and an average price target of $432.24.

Stryker Stock Performance

NYSE SYK opened at $381.86 on Friday. 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 business’s 50 day moving average is $379.84 and its two-hundred day moving average is $380.03. The stock has a market capitalization of $145.99 billion, a price-to-earnings ratio of 50.58, a PEG ratio of 2.75 and a beta of 0.94. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19.

Stryker (NYSE:SYK) last released its quarterly earnings data 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 return on equity of 23.94% and a net margin of 12.25%.The firm had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $5.92 billion. During the same quarter in the prior year, the business posted $2.81 earnings per share. Stryker’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. Research analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker’s payout ratio 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.