Independence Bank of Kentucky Sells 315 Shares of Stryker Corporation $SYK

Independence Bank of Kentucky lowered its stake in shares of Stryker Corporation (NYSE:SYK) by 4.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,192 shares of the medical technology company’s stock after selling 315 shares during the period. Independence Bank of Kentucky’s holdings in Stryker were worth $2,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Moody Lynn & Lieberson LLC raised its position in shares of Stryker by 1.0% during the second quarter. Moody Lynn & Lieberson LLC now owns 87,798 shares of the medical technology company’s stock valued at $34,736,000 after buying an additional 861 shares during the last quarter. GraniteShares Advisors LLC bought a new stake in shares of Stryker during the second quarter valued at approximately $1,281,000. Smith Salley Wealth Management bought a new stake in shares of Stryker during the second quarter valued at approximately $2,045,000. Addenda Capital Inc. raised its position in shares of Stryker by 14.1% during the second quarter. Addenda Capital Inc. now owns 21,428 shares of the medical technology company’s stock valued at $8,493,000 after buying an additional 2,652 shares during the last quarter. Finally, Beacon Capital Management LLC increased its position in Stryker by 31.1% in the second quarter. Beacon Capital Management LLC now owns 135 shares of the medical technology company’s stock worth $53,000 after purchasing an additional 32 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Trading Up 0.1%

SYK stock opened at $368.83 on Monday. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19. The stock has a market capitalization of $141.01 billion, a price-to-earnings ratio of 48.85, a price-to-earnings-growth ratio of 2.66 and a beta of 0.93. The firm’s fifty day simple moving average is $385.71 and its two-hundred day simple moving average is $379.18.

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 analysts’ consensus estimates of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $5.92 billion. During the same quarter in the previous year, the business posted $2.81 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

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

Analysts Set New Price Targets

SYK has been the topic of several research reports. Rothschild Redb upgraded shares of Stryker to a “hold” rating in a research report on Thursday, September 18th. Rothschild & Co Redburn initiated coverage on shares of Stryker in a research report on Thursday, September 18th. They issued a “neutral” rating and a $420.00 price target on the stock. Redburn Partners set a $420.00 price target on shares of Stryker in a research report on Thursday, September 18th. Evercore ISI boosted their price target on shares of Stryker from $390.00 to $415.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Finally, Truist Financial set a $415.00 price target on shares of Stryker and gave the stock a “hold” rating in a research report on Monday, August 4th. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $430.33.

Insider Activity

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction dated 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 transaction, the director directly owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This represents a 5.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Viju Menon sold 500 shares of the company’s stock in a transaction dated 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 owned 12,511 shares in the company, valued at $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 owned by insiders.

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.