Stryker Corporation $SYK Shares Sold by AlTi Global Inc.

AlTi Global Inc. decreased its position in shares of Stryker Corporation (NYSE:SYK) by 56.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 911 shares of the medical technology company’s stock after selling 1,202 shares during the quarter. AlTi Global Inc.’s holdings in Stryker were worth $361,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of SYK. Brighton Jones LLC lifted its stake in shares of Stryker by 15.4% during the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock valued at $1,643,000 after buying an additional 609 shares during the period. GAMMA Investing LLC lifted its stake in shares of Stryker by 16.4% during the first quarter. GAMMA Investing LLC now owns 5,574 shares of the medical technology company’s stock valued at $2,075,000 after buying an additional 785 shares during the period. Golden State Wealth Management LLC raised its stake in Stryker by 298.5% during the first quarter. Golden State Wealth Management LLC now owns 793 shares of the medical technology company’s stock worth $295,000 after purchasing an additional 594 shares during the period. HBK Sorce Advisory LLC boosted its holdings in shares of Stryker by 5.0% in the 1st quarter. HBK Sorce Advisory LLC now owns 847 shares of the medical technology company’s stock valued at $315,000 after purchasing an additional 40 shares during the last quarter. Finally, Perigon Wealth Management LLC boosted its holdings in shares of Stryker by 3.2% in the 1st quarter. Perigon Wealth Management LLC now owns 4,209 shares of the medical technology company’s stock valued at $1,567,000 after purchasing an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Trading Down 0.3%

Stryker stock opened at $381.86 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The firm has a 50-day moving average price of $379.84 and a two-hundred day moving average price of $380.03. The firm 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 52-week low of $329.16 and a 52-week high of $406.19.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. During the same period in the previous year, the firm earned $2.81 EPS. Stryker’s revenue was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Sell-side analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

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

Analysts Set New Price Targets

SYK has been the topic of a number of research analyst reports. UBS Group set a $408.00 price target on shares of Stryker in a report on Monday, October 13th. Barclays lifted their price target on shares of Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a report on Wednesday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Stryker in a report on Friday. Truist Financial cut their target price on shares of Stryker from $415.00 to $407.00 and set a “hold” rating on the stock in a research note on Wednesday, October 15th. Finally, Evercore ISI cut their target price on shares of Stryker from $418.00 to $410.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 7th. Fifteen 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.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $432.24.

Insider Activity at Stryker

In other news, insider Viju Menon sold 500 shares of Stryker stock in a transaction that occurred 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 transaction, the insider directly owned 12,511 shares of the company’s stock, valued at $4,886,921.71. This trade represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ronda E. Stryker sold 200,000 shares of Stryker 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 completion of 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.

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.