Stryker Corporation $SYK Position Reduced by NORTHSTAR ASSET MANAGEMENT Co

NORTHSTAR ASSET MANAGEMENT Co trimmed its stake in shares of Stryker Corporation (NYSE:SYK) by 3.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,265 shares of the medical technology company’s stock after selling 175 shares during the quarter. NORTHSTAR ASSET MANAGEMENT Co’s holdings in Stryker were worth $2,083,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Stryker during the second quarter worth $26,000. Sachetta LLC raised its holdings in shares of 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 during the period. Goodman Advisory Group LLC acquired a new stake in shares of Stryker during the first quarter worth $32,000. Ridgewood Investments LLC raised its holdings in shares of Stryker by 48.4% during the second quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock worth $36,000 after purchasing an additional 30 shares during the period. Finally, Ransom Advisory Ltd acquired a new stake in shares of Stryker during the first quarter worth $37,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Stryker in a report on Friday. Wells Fargo & Company increased their price objective on shares of Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Truist Financial dropped their price objective on shares of Stryker from $415.00 to $407.00 and set a “hold” rating on the stock in a report on Wednesday, October 15th. Redburn Partners set a $420.00 price objective on shares of Stryker in a report on Thursday, September 18th. Finally, Rothschild & Co Redburn began coverage on shares of Stryker in a report on Thursday, September 18th. They issued a “neutral” rating and a $420.00 price objective on the stock. Fifteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average target price of $432.24.

Stryker Stock Performance

NYSE:SYK opened at $381.86 on Friday. Stryker Corporation has a twelve month low of $329.16 and a twelve month 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. The company has a 50-day moving average of $379.84 and a 200-day moving average of $379.73. The firm has a market cap 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.

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 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 company had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same quarter last year, the firm posted $2.81 EPS. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

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

Insider Activity

In other news, insider Viju Menon sold 500 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 12,511 shares of the company’s stock, valued at $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the completion of the sale, the director directly owned 3,222,108 shares of the company’s stock, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.