OLD Point Trust & Financial Services N A Has $72,000 Holdings in Stryker Corporation $SYK

OLD Point Trust & Financial Services N A lowered its stake in Stryker Corporation (NYSE:SYK) by 45.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 182 shares of the medical technology company’s stock after selling 150 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in Stryker were worth $72,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. RNC Capital Management LLC lifted its position in shares of Stryker by 4.5% in the second quarter. RNC Capital Management LLC now owns 3,350 shares of the medical technology company’s stock worth $1,325,000 after buying an additional 145 shares during the last quarter. Ethic Inc. increased its stake in shares of Stryker by 5.8% in the second quarter. Ethic Inc. now owns 54,815 shares of the medical technology company’s stock worth $21,572,000 after purchasing an additional 2,986 shares during the period. Rehmann Capital Advisory Group increased its stake in shares of Stryker by 1.2% in the second quarter. Rehmann Capital Advisory Group now owns 61,126 shares of the medical technology company’s stock worth $24,183,000 after purchasing an additional 711 shares during the period. Covenant Partners LLC bought a new position in shares of Stryker in the second quarter worth about $200,000. Finally, Members Trust Co bought a new position in shares of Stryker in the second quarter worth about $215,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Up 2.1%

NYSE SYK opened at $387.84 on Thursday. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The stock’s 50 day moving average is $379.74 and its two-hundred day moving average is $379.16. The company has a market capitalization of $148.27 billion, a price-to-earnings ratio of 51.37, a PEG ratio of 2.74 and a beta of 0.94. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19.

Stryker (NYSE:SYK) last released 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. The company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Equities 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 given a $0.84 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 annualized dividend and a yield of 0.9%. Stryker’s payout ratio is presently 44.50%.

Insider Buying and Selling at Stryker

In other Stryker news, insider Viju Menon sold 500 shares of Stryker stock in a transaction on Monday, August 25th. The stock was 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 in the company, valued at approximately $4,886,921.71. The trade was a 3.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction on 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 completion of the transaction, the director owned 3,222,108 shares of the company’s stock, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their position. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SYK. Weiss Ratings reiterated a “buy (b-)” rating on shares of Stryker in a research note on Wednesday, October 8th. Barclays boosted their price target on Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a research note on Wednesday. UBS Group set a $408.00 price target on Stryker in a research note on Monday, October 13th. Rothschild Redb upgraded Stryker to a “hold” rating in a research note on Thursday, September 18th. Finally, Truist Financial lowered their price target on Stryker from $415.00 to $407.00 and set a “hold” rating on the stock in a research note on Wednesday, October 15th. Fifteen investment 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 has a consensus rating of “Moderate Buy” and a consensus price target of $432.24.

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.