Sheets Smith Wealth Management Sells 1,579 Shares of Stryker Corporation $SYK

Sheets Smith Wealth Management lowered its holdings in shares of Stryker Corporation (NYSE:SYK) by 34.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,037 shares of the medical technology company’s stock after selling 1,579 shares during the period. Sheets Smith Wealth Management’s holdings in Stryker were worth $1,202,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of Stryker by 43,226.8% in the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company’s stock worth $772,390,000 after purchasing an additional 2,070,133 shares in the last quarter. Nuveen LLC bought a new stake in Stryker in the first quarter worth $558,075,000. Price T Rowe Associates Inc. MD boosted its holdings 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 in the last quarter. Alliancebernstein L.P. boosted its holdings in Stryker by 66.7% in the first quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company’s stock worth $511,152,000 after acquiring an additional 549,643 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Stryker in the fourth quarter worth $154,140,000. Institutional investors own 77.09% of the company’s stock.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of the firm’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 transaction, the director directly owned 3,222,108 shares of the company’s stock, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Viju Menon sold 500 shares of the firm’s 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 directly owned 12,511 shares in the company, valued at approximately $4,886,921.71. This represents a 3.84% 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.

Analysts Set New Price Targets

SYK has been the topic of a number of analyst reports. Evercore ISI upped their price target on shares of Stryker from $390.00 to $415.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. Rothschild Redb upgraded shares of Stryker to a “hold” rating in a research note on Thursday, September 18th. Wells Fargo & Company upped their target price on shares of Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a research report on Friday, July 18th. Finally, Truist Financial set a $415.00 price objective on Stryker and gave the company a “hold” rating in a research report on Monday, August 4th. Fourteen equities research 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 has a consensus rating of “Moderate Buy” and a consensus target price of $430.33.

Stryker Stock Down 1.3%

SYK stock opened at $373.12 on Wednesday. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The business’s 50-day moving average is $386.91 and its two-hundred day moving average is $379.01. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The company has a market cap of $142.65 billion, a price-to-earnings ratio of 49.42, a P/E/G ratio of 2.72 and a beta of 0.93.

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

Stryker Dividend Announcement

The firm also recently declared 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 dividend payout ratio (DPR) is presently 44.50%.

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.