Legacy Trust Trims Stock Position in Stryker Corporation $SYK

Legacy Trust lessened its stake in shares of Stryker Corporation (NYSE:SYK) by 5.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,751 shares of the medical technology company’s stock after selling 1,092 shares during the quarter. Stryker comprises about 1.8% of Legacy Trust’s holdings, making the stock its 20th biggest holding. Legacy Trust’s holdings in Stryker were worth $7,418,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of SYK. Nuveen LLC purchased a new stake in shares of Stryker during the 1st quarter worth approximately $558,075,000. Price T Rowe Associates Inc. MD raised its position in Stryker by 9.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company’s stock valued at $4,515,847,000 after purchasing an additional 1,021,496 shares during the last quarter. Alliancebernstein L.P. raised its position in Stryker by 66.7% in the 1st quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company’s stock valued at $511,152,000 after purchasing an additional 549,643 shares during the last quarter. Vanguard Group Inc. raised its position in Stryker by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company’s stock valued at $12,306,572,000 after purchasing an additional 361,136 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Stryker by 13.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company’s stock valued at $838,640,000 after purchasing an additional 261,058 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of SYK opened at $370.59 on Friday. 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 stock has a market capitalization of $141.68 billion, a P/E ratio of 49.08, a P/E/G ratio of 2.67 and a beta of 0.94. The company’s fifty day moving average is $382.81 and its two-hundred day moving average is $378.93. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19.

Stryker (NYSE:SYK) last announced its quarterly earnings data 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. The company had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. Stryker’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, sell-side analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Viju Menon sold 500 shares of the company’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $390.61, for a total transaction of $195,305.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction 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 transaction, the director directly owned 3,222,108 shares in the company, 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. Corporate insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on SYK shares. Redburn Partners set a $420.00 price target on shares of Stryker in a research report on Thursday, September 18th. Needham & Company LLC upped their price target on shares of Stryker from $442.00 to $448.00 and gave the company a “buy” rating in a research report on Friday, August 1st. BTIG Research reiterated a “buy” rating on shares of Stryker in a research report on Monday, July 14th. Rothschild & Co Redburn assumed coverage on shares of Stryker in a research report on Thursday, September 18th. They issued a “neutral” rating and a $420.00 price target for the company. Finally, Wall Street Zen cut shares of Stryker from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Fifteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $430.33.

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.