Symmetry Partners LLC Trims Holdings in Stryker Corporation $SYK

Symmetry Partners LLC lowered its stake in shares of Stryker Corporation (NYSE:SYK) by 1.6% in the second quarter, HoldingsChannel reports. The fund owned 1,675 shares of the medical technology company’s stock after selling 28 shares during the quarter. Symmetry Partners LLC’s holdings in Stryker were worth $662,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Goodman Advisory Group LLC acquired a new stake in Stryker in the first quarter valued at approximately $32,000. City Holding Co. lifted its stake in Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock worth $33,000 after purchasing an additional 74 shares during the last quarter. Ridgewood Investments LLC lifted its stake in 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 last quarter. Ransom Advisory Ltd bought a new stake in Stryker in the first quarter valued at $37,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in Stryker in the first quarter valued at $40,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Activity at Stryker

In other news, insider Viju Menon sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the completion of the transaction, the insider directly owned 12,511 shares in the company, valued at $4,886,921.71. The trade was a 3.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction that occurred 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 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 ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SYK shares. Evercore ISI lifted their price objective on shares of Stryker from $390.00 to $415.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Wells Fargo & Company lifted their price objective on shares of Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Rothschild Redb upgraded shares of Stryker to a “hold” rating in a research note on Thursday, September 18th. BTIG Research restated a “buy” rating on shares of Stryker in a research note on Monday, July 14th. Finally, Needham & Company LLC lifted their target price on Stryker from $442.00 to $448.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $430.33.

Stryker Stock Up 0.1%

Shares of Stryker stock opened at $368.83 on Friday. The firm has a market cap of $141.01 billion, a price-to-earnings ratio of 48.85, a P/E/G ratio of 2.66 and a beta of 0.93. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19. The stock has a 50-day simple moving average of $385.71 and a 200-day simple moving average of $379.08.

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

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued 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 payout ratio is 44.50%.

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.