Taylor Frigon Capital Management LLC Lowers Holdings in Stryker Corporation $SYK

Taylor Frigon Capital Management LLC reduced its stake in shares of Stryker Corporation (NYSE:SYK) by 3.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 4,292 shares of the medical technology company’s stock after selling 135 shares during the period. Taylor Frigon Capital Management LLC’s holdings in Stryker were worth $1,698,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SYK. Goodman Advisory Group LLC acquired a new position in Stryker in the first quarter valued at $32,000. City Holding Co. increased its position in Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock worth $33,000 after purchasing an additional 74 shares in the last quarter. Ridgewood Investments LLC raised its holdings in Stryker by 48.4% in the second quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock valued at $36,000 after buying an additional 30 shares during the period. Ransom Advisory Ltd purchased a new position in Stryker in the first quarter valued at approximately $37,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in Stryker during the first quarter valued at approximately $40,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Stock Up 0.1%

SYK stock opened at $368.83 on Monday. 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 firm has a 50 day simple moving average of $385.71 and a 200-day simple moving average of $379.18. The company has a market capitalization of $141.01 billion, a P/E ratio of 48.85, a PEG ratio of 2.66 and a beta of 0.93. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $3.07 by $0.06. The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, equities research analysts predict 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 dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker’s dividend payout ratio (DPR) is currently 44.50%.

Insider Activity at Stryker

In other news, insider Viju Menon sold 500 shares of the business’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 value of $195,305.00. Following the completion of the sale, the insider directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction that occurred 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 sale, the director directly owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. This represents a 5.84% 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.

Analyst Ratings Changes

A number of equities analysts have recently commented on SYK shares. Truist Financial set a $415.00 target price on shares of Stryker and gave the company a “hold” rating in a research note on Monday, August 4th. Needham & Company LLC increased their price target on Stryker from $442.00 to $448.00 and gave the company a “buy” rating in a report on Friday, August 1st. Rothschild & Co Redburn began coverage on Stryker in a research note on Thursday, September 18th. They set a “neutral” rating and a $420.00 price objective on the stock. Rothschild Redb upgraded Stryker to a “hold” rating in a research note on Thursday, September 18th. Finally, Evercore ISI raised their target price on Stryker from $390.00 to $415.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Fourteen 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $430.33.

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.