Thurston Springer Miller Herd & Titak Inc. Lowers Stock Holdings in Stryker Corporation $SYK

Thurston Springer Miller Herd & Titak Inc. trimmed its holdings in shares of Stryker Corporation (NYSE:SYK) by 91.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,054 shares of the medical technology company’s stock after selling 11,494 shares during the period. Stryker accounts for approximately 0.8% of Thurston Springer Miller Herd & Titak Inc.’s holdings, making the stock its 19th largest holding. Thurston Springer Miller Herd & Titak Inc.’s holdings in Stryker were worth $390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Stryker during the second quarter valued at $1,882,173,000. Alliancebernstein L.P. raised its position in shares of Stryker by 307.6% during the 2nd quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after purchasing an additional 4,223,366 shares during the last quarter. Corient Private Wealth LLC lifted its stake in Stryker by 104.4% in the 2nd quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock valued at $887,525,000 after buying an additional 1,146,998 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Stryker by 9.2% in the 1st 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 during the last quarter. Finally, ABN AMRO Bank N.V. purchased a new stake in Stryker during the 2nd quarter worth approximately $191,047,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 276,173 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the completion of the transaction, the director owned 2,702,108 shares of the company’s stock, valued at approximately $954,600,714.24. This trade represents a 9.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Preston Wendell Wells sold 165 shares of Stryker stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $365.88, for a total transaction of $60,370.20. Following the completion of the sale, the chief financial officer owned 6,694 shares of the company’s stock, valued at $2,449,200.72. This trade represents a 2.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 522,118 shares of company stock valued at $185,381,932 over the last 90 days. 5.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SYK shares. BTIG Research restated a “buy” rating and issued a $410.00 target price on shares of Stryker in a research report on Friday, November 14th. Rothschild Redb upgraded Stryker to a “hold” rating in a report on Thursday, September 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Stryker in a report on Monday. Wells Fargo & Company raised their price target on shares of Stryker from $452.00 to $456.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Finally, Redburn Partners set a $420.00 price objective on shares of Stryker in a report on Thursday, September 18th. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $431.83.

Stryker Price Performance

Stryker stock opened at $351.63 on Wednesday. The company has a current ratio of 1.85, a quick ratio of 1.13 and a debt-to-equity ratio of 0.68. The company has a 50-day moving average price of $366.25 and a 200 day moving average price of $378.04. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The stock has a market cap of $134.47 billion, a P/E ratio of 46.21, a PEG ratio of 2.52 and a beta of 0.89.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, October 30th. The medical technology company reported $3.19 EPS for the quarter, beating the consensus estimate of $3.13 by $0.06. The firm had revenue of $6.06 billion for the quarter, compared to analyst estimates of $6.04 billion. Stryker had a net margin of 12.07% and a return on equity of 24.07%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.87 EPS. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. Sell-side analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be issued a $0.88 dividend. This is an increase from Stryker’s previous quarterly dividend of $0.84. The ex-dividend date is Wednesday, December 31st. This represents a $3.52 annualized dividend and a yield of 1.0%. Stryker’s payout ratio is presently 44.15%.

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.