Stryker Corporation $SYK Shares Sold by Connable Office Inc.

Connable Office Inc. lessened its stake in Stryker Corporation (NYSE:SYK) by 0.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 99,498 shares of the medical technology company’s stock after selling 869 shares during the period. Stryker comprises 3.9% of Connable Office Inc.’s investment portfolio, making the stock its 6th biggest position. Connable Office Inc.’s holdings in Stryker were worth $39,364,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Mid American Wealth Advisory Group Inc. bought a new position in Stryker in the second quarter valued at about $26,000. Sachetta LLC lifted its position in 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 purchasing an additional 27 shares during the period. Ridgewood Investments LLC boosted its stake in shares of Stryker by 48.4% in the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock valued at $36,000 after purchasing an additional 30 shares during the last quarter. Ransom Advisory Ltd bought a new position in shares of Stryker in the 1st quarter valued at about $37,000. Finally, Solstein Capital LLC acquired a new stake in shares of Stryker during the 2nd quarter worth approximately $43,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Price Performance

NYSE SYK opened at $356.15 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19. The business has a 50 day simple moving average of $378.08 and a 200 day simple moving average of $381.04. The stock has a market cap of $136.16 billion, a price-to-earnings ratio of 47.17, a PEG ratio of 2.66 and a beta of 0.94.

Stryker (NYSE:SYK) last released 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. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $6.04 billion. During the same quarter in the prior year, the company earned $2.87 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. Analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th were paid a $0.84 dividend. 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 dividend payout ratio (DPR) is currently 44.15%.

Analyst Ratings Changes

Several equities analysts recently weighed in on SYK shares. Wells Fargo & Company increased their price objective on shares of Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Evercore ISI reduced their price target on Stryker from $410.00 to $405.00 and set an “outperform” rating on the stock in a research report on Friday. 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 note on Friday, August 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of Stryker in a research note on Wednesday, October 8th. Finally, Rothschild & Co Redburn began coverage on Stryker in a research note on Thursday, September 18th. They issued a “neutral” rating and a $420.00 price target for the company. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average price target of $434.16.

Insider Activity

In related news, Director Ronda E. Stryker sold 200,000 shares of the 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 completion of the transaction, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Viju Menon sold 500 shares of Stryker 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 owned 12,511 shares in the company, valued at $4,886,921.71. The trade was a 3.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 5.90% of the stock is owned by corporate 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.