NewEdge Wealth LLC Sells 2,950 Shares of Stryker Corporation $SYK

NewEdge Wealth LLC cut its holdings in shares of Stryker Corporation (NYSE:SYK) by 26.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,307 shares of the medical technology company’s stock after selling 2,950 shares during the quarter. NewEdge Wealth LLC’s holdings in Stryker were worth $2,730,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. VanderPol Investments L.L.C. increased its holdings in Stryker by 1.4% during the fourth quarter. VanderPol Investments L.L.C. now owns 2,084 shares of the medical technology company’s stock worth $732,000 after buying an additional 28 shares during the last quarter. KCM Investment Advisors LLC raised its position in Stryker by 1.5% in the fourth quarter. KCM Investment Advisors LLC now owns 1,857 shares of the medical technology company’s stock worth $653,000 after acquiring an additional 28 shares during the period. Rossby Financial LCC boosted its stake in Stryker by 6.6% in the fourth quarter. Rossby Financial LCC now owns 451 shares of the medical technology company’s stock valued at $159,000 after acquiring an additional 28 shares during the last quarter. Tcfg Wealth Management LLC boosted its stake in Stryker by 2.7% in the third quarter. Tcfg Wealth Management LLC now owns 1,091 shares of the medical technology company’s stock valued at $403,000 after acquiring an additional 29 shares during the last quarter. Finally, Mechanics Financial Corp grew its position in shares of Stryker by 1.2% during the 4th quarter. Mechanics Financial Corp now owns 2,458 shares of the medical technology company’s stock valued at $864,000 after acquiring an additional 30 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 310,000 shares of Stryker stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $312.23, for a total value of $96,791,300.00. Following the completion of the transaction, the director directly owned 1,924,880 shares in the company, valued at approximately $601,005,282.40. The trade was a 13.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert S. Fletcher sold 4,544 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $306.87, for a total value of $1,394,417.28. Following the sale, the vice president owned 10,582 shares in the company, valued at approximately $3,247,298.34. The trade was a 30.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 323,264 shares of company stock valued at $100,659,489 over the last three months. Company insiders own 4.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Canaccord Genuity Group decreased their price target on shares of Stryker from $435.00 to $400.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Needham & Company LLC dropped their price objective on Stryker from $454.00 to $418.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Weiss Ratings downgraded Stryker from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 4th. Evercore set a $350.00 target price on Stryker in a research note on Monday, July 6th. Finally, Wells Fargo & Company lowered their target price on Stryker from $456.00 to $418.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and an average target price of $392.52.

Stryker Stock Performance

NYSE SYK opened at $330.69 on Friday. The company’s 50 day moving average is $314.69 and its 200-day moving average is $335.66. Stryker Corporation has a 12-month low of $281.00 and a 12-month high of $404.14. The company has a quick ratio of 1.25, a current ratio of 2.11 and a debt-to-equity ratio of 0.62. The firm has a market cap of $126.77 billion, a P/E ratio of 38.27, a price-to-earnings-growth ratio of 2.12 and a beta of 0.77.

Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, April 30th. The medical technology company reported $2.60 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.38). Stryker had a return on equity of 23.42% and a net margin of 13.20%.The business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $6.34 billion. During the same period last year, the business posted $2.84 earnings per share. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. Sell-side analysts predict that Stryker Corporation will post 14.99 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Stryker’s dividend payout ratio (DPR) is presently 40.74%.

Stryker Company Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.