Russell Investments Group Ltd. Reduces Stock Holdings in Stryker Corporation $SYK

Russell Investments Group Ltd. reduced its position in shares of Stryker Corporation (NYSE:SYK) by 12.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 197,104 shares of the medical technology company’s stock after selling 28,623 shares during the period. Russell Investments Group Ltd. owned 0.05% of Stryker worth $77,946,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Stryker by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock valued at $13,253,831,000 after buying an additional 440,607 shares during the period. Price T Rowe Associates Inc. MD grew its position in Stryker by 9.2% in the first 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 acquiring an additional 1,021,496 shares during the period. Geode Capital Management LLC grew its position in Stryker by 1.1% in the second quarter. Geode Capital Management LLC now owns 7,393,611 shares of the medical technology company’s stock worth $2,910,445,000 after acquiring an additional 79,654 shares during the period. Goldman Sachs Group Inc. increased its stake in Stryker by 13.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company’s stock worth $838,640,000 after acquiring an additional 261,058 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Stryker by 4.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,086,960 shares of the medical technology company’s stock valued at $776,871,000 after purchasing an additional 83,954 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Stryker

In other news, CFO Preston Wendell Wells sold 165 shares of the company’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $365.88, for a total transaction of $60,370.20. Following the sale, the chief financial officer owned 6,694 shares of the company’s stock, valued at approximately $2,449,200.72. This represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 276,173 shares of Stryker stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $353.28, for a total value 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 522,118 shares of company stock valued at $185,381,932. 5.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SYK shares. Truist Financial increased their price target on Stryker from $392.00 to $400.00 and gave the stock a “hold” rating in a report on Friday, November 14th. BTIG Research reaffirmed a “buy” rating and issued a $410.00 target price on shares of Stryker in a research report on Friday, November 14th. Rothschild & Co Redburn started coverage on shares of Stryker in a research note on Thursday, September 18th. They set a “neutral” rating and a $420.00 target price for the company. Barclays boosted 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, October 22nd. Finally, Evercore ISI lowered their price objective on shares of Stryker from $410.00 to $405.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. Thirteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $434.37.

Stryker Stock Down 0.8%

Shares of SYK opened at $372.04 on Thursday. The company’s 50-day simple moving average is $369.13 and its 200-day simple moving average is $380.49. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19. The stock has a market capitalization of $142.28 billion, a PE ratio of 49.28, a P/E/G ratio of 2.66 and a beta of 0.94.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, October 30th. The medical technology company reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.13 by $0.06. The firm had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $6.04 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.87 earnings per share. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. Analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

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.