Forbes J M & Co. LLP Sells 263 Shares of Stryker Corporation $SYK

Forbes J M & Co. LLP lowered its holdings in Stryker Corporation (NYSE:SYK) by 7.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,340 shares of the medical technology company’s stock after selling 263 shares during the period. Forbes J M & Co. LLP’s holdings in Stryker were worth $1,321,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SYK. Goodman Advisory Group LLC bought a new stake in Stryker in the 1st quarter valued at about $32,000. City Holding Co. lifted its holdings in shares of Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock worth $33,000 after acquiring an additional 74 shares during the period. Ridgewood Investments LLC lifted its holdings in shares of Stryker by 48.4% during the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock worth $36,000 after acquiring an additional 30 shares during the period. Ransom Advisory Ltd bought a new stake in shares of Stryker during the 1st quarter worth approximately $37,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in shares of Stryker during the 1st quarter worth approximately $40,000. Institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SYK. Rothschild Redb raised shares of Stryker to a “hold” rating in a report on Thursday, September 18th. Rothschild & Co Redburn initiated coverage on shares of 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 upped their price objective on shares of Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Evercore ISI upped their price objective on shares of Stryker from $390.00 to $415.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Finally, Wall Street Zen cut shares of Stryker from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $430.33.

Stryker Stock Down 0.1%

Shares of NYSE SYK opened at $369.44 on Wednesday. The firm has a market cap of $141.24 billion, a PE ratio of 48.93, a P/E/G ratio of 2.67 and a beta of 0.93. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The company’s fifty day simple moving average is $384.81 and its 200 day simple moving average is $379.11. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70.

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

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid 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 of this dividend is Tuesday, September 30th. Stryker’s dividend payout ratio (DPR) is 44.50%.

Insiders Place Their Bets

In other Stryker news, insider Viju Menon sold 500 shares of the firm’s stock in a transaction 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 approximately $4,886,921.71. This trade represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the firm’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 completion of the transaction, the director directly owned 3,222,108 shares in the company, valued at $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. 5.20% of the stock is currently owned by company insiders.

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.