Stryker Corporation $SYK Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB lowered its stake in Stryker Corporation (NYSE:SYK) by 11.1% during the second quarter, HoldingsChannel reports. The firm owned 1,120,319 shares of the medical technology company’s stock after selling 139,234 shares during the quarter. Nordea Investment Management AB’s holdings in Stryker were worth $440,420,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of SYK. Consolidated Portfolio Review Corp boosted its position in Stryker by 4.2% during the second quarter. Consolidated Portfolio Review Corp now owns 648 shares of the medical technology company’s stock worth $256,000 after purchasing an additional 26 shares in the last quarter. Sunflower Bank N.A. boosted its position in Stryker by 4.0% during the second quarter. Sunflower Bank N.A. now owns 696 shares of the medical technology company’s stock worth $275,000 after purchasing an additional 27 shares in the last quarter. Pitti Group Wealth Management LLC boosted its position in Stryker by 3.2% during the second quarter. Pitti Group Wealth Management LLC now owns 861 shares of the medical technology company’s stock worth $341,000 after purchasing an additional 27 shares in the last quarter. Sachetta LLC boosted its position in Stryker by 58.7% during the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 27 shares in the last quarter. Finally, Comprehensive Financial Consultants Institutional Inc. boosted its position in Stryker by 0.6% during the second quarter. Comprehensive Financial Consultants Institutional Inc. now owns 4,546 shares of the medical technology company’s stock worth $1,799,000 after purchasing an additional 28 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Rothschild & Co Redburn started coverage on Stryker in a research report on Thursday, September 18th. They set a “neutral” rating and a $420.00 target price on the stock. UBS Group set a $408.00 price objective on Stryker in a research report on Monday. Needham & Company LLC upped their price objective on Stryker from $442.00 to $448.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Evercore ISI reduced their price objective on Stryker from $418.00 to $410.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 7th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Stryker in a research report on Wednesday, October 8th. Fifteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $431.76.

Stryker Stock Performance

Stryker stock opened at $369.05 on Friday. The firm has a market capitalization of $141.09 billion, a P/E ratio of 48.88, a PEG ratio of 2.66 and a beta of 0.94. The stock has a fifty day moving average price of $379.46 and a 200 day moving average price of $378.76. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70.

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

Stryker Announces Dividend

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

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the completion of 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 can be accessed through the SEC website. Also, insider Viju Menon sold 500 shares of the company’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 completion of the transaction, the insider owned 12,511 shares of the company’s stock, valued at $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.

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.