Sumitomo Life Insurance Co. Lowers Stock Position in Stryker Corporation $SYK

Sumitomo Life Insurance Co. trimmed its stake in shares of Stryker Corporation (NYSE:SYK) by 4.0% in the second quarter, Holdings Channel.com reports. The fund owned 10,492 shares of the medical technology company’s stock after selling 435 shares during the period. Sumitomo Life Insurance Co.’s holdings in Stryker were worth $4,151,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Consolidated Portfolio Review Corp lifted its position in shares of Stryker by 4.2% during the 2nd quarter. Consolidated Portfolio Review Corp now owns 648 shares of the medical technology company’s stock valued at $256,000 after acquiring an additional 26 shares during the period. Princeton Global Asset Management LLC lifted its position in shares of Stryker by 16.9% during the 2nd quarter. Princeton Global Asset Management LLC now owns 180 shares of the medical technology company’s stock valued at $71,000 after acquiring an additional 26 shares during the period. Sunflower Bank N.A. lifted its position in shares of Stryker by 4.0% during the 2nd quarter. Sunflower Bank N.A. now owns 696 shares of the medical technology company’s stock valued at $275,000 after acquiring an additional 27 shares during the period. Pitti Group Wealth Management LLC lifted its position in shares of Stryker by 3.2% during the 2nd quarter. Pitti Group Wealth Management LLC now owns 861 shares of the medical technology company’s stock valued at $341,000 after acquiring an additional 27 shares during the period. Finally, Sachetta LLC lifted its position in shares of Stryker by 58.7% during 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 period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Stryker

In other news, insider Viju Menon sold 500 shares of the business’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $390.61, for a total transaction of $195,305.00. Following the completion of the sale, the insider directly owned 12,511 shares of the company’s stock, valued at $4,886,921.71. The trade was a 3.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the sale, the director directly owned 3,222,108 shares of the company’s stock, valued at $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SYK shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Stryker in a research report on Wednesday, October 8th. UBS Group set a $408.00 price objective on Stryker in a research report on Monday, October 13th. Rothschild & Co Redburn began coverage on Stryker in a research report on Thursday, September 18th. They set a “neutral” rating and a $420.00 price objective for the company. Wells Fargo & Company lifted their price objective on Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Finally, Needham & Company LLC lifted their price objective on Stryker from $442.00 to $448.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $434.16.

Stryker Trading Down 3.5%

Shares of SYK opened at $356.15 on Friday. The stock has a fifty day moving average of $378.08 and a two-hundred day moving average of $380.80. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The company has a market capitalization of $136.16 billion, a PE ratio of 47.17, a price-to-earnings-growth ratio of 2.66 and a beta of 0.94. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, October 30th. The medical technology company reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.13 by $0.06. The company had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $6.04 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.Stryker’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.87 EPS. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. As a group, analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th were paid a dividend of $0.84 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. Stryker’s payout ratio 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.