Catalyst Capital Advisors LLC Lowers Position in Stryker Corporation $SYK

Catalyst Capital Advisors LLC lessened its stake in Stryker Corporation (NYSE:SYK) by 14.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 453 shares of the medical technology company’s stock after selling 74 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Stryker were worth $179,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Stryker in the second quarter worth $26,000. Sachetta LLC raised its stake in Stryker by 58.7% during the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 27 shares in the last quarter. Goodman Advisory Group LLC purchased a new stake in Stryker during the first quarter valued at $32,000. Ridgewood Investments LLC raised its stake in Stryker by 48.4% during the second 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 in the last quarter. Finally, Ransom Advisory Ltd purchased a new stake in Stryker during the first quarter valued at $37,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Trading Down 0.3%

SYK stock opened at $381.86 on Friday. 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 Corporation has a twelve month low of $329.16 and a twelve month high of $406.19. The stock has a market capitalization of $145.99 billion, a price-to-earnings ratio of 50.58, a price-to-earnings-growth ratio of 2.76 and a beta of 0.94. The firm’s fifty day simple moving average is $379.84 and its two-hundred day simple moving average is $379.73.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $5.92 billion. During the same quarter in the previous year, the business posted $2.81 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be issued a $0.84 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. Stryker’s dividend payout ratio is presently 44.50%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Truist Financial decreased their price target on shares of Stryker from $415.00 to $407.00 and set a “hold” rating on the stock in a research note on Wednesday, October 15th. Evercore ISI decreased their price target on shares of Stryker from $418.00 to $410.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 7th. Barclays upped their price target on shares of Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a research note on Wednesday. Needham & Company LLC upped their price target on shares of Stryker from $442.00 to $448.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Stryker in a research note on Friday. Fifteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and an average price target of $432.24.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total value of $75,290,000.00. Following the transaction, the director directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Viju Menon sold 500 shares of the company’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the completion of the transaction, the insider owned 12,511 shares in the company, valued at approximately $4,886,921.71. The trade was a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Stryker 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.