Stryker Corporation $SYK Shares Sold by Fortitude Advisory Group L.L.C.

Fortitude Advisory Group L.L.C. lowered its stake in shares of Stryker Corporation (NYSE:SYK) by 12.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 933 shares of the medical technology company’s stock after selling 135 shares during the quarter. Fortitude Advisory Group L.L.C.’s holdings in Stryker were worth $369,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of 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 buying an additional 361,136 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 buying an additional 1,021,496 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of 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 buying an additional 261,058 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Stryker by 4.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,086,960 shares of the medical technology company’s stock worth $776,871,000 after purchasing an additional 83,954 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Stryker by 1.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,015,374 shares of the medical technology company’s stock worth $750,223,000 after purchasing an additional 30,329 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction dated 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 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 represents a 5.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Viju Menon sold 500 shares of the 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 sale, the insider directly owned 12,511 shares of the company’s stock, valued at $4,886,921.71. The trade was a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Up 1.1%

Shares of NYSE SYK opened at $370.59 on Friday. The stock has a market cap of $141.68 billion, a PE ratio of 49.08, a price-to-earnings-growth ratio of 2.67 and a beta of 0.94. 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 52-week low of $329.16 and a 52-week high of $406.19. The business has a 50-day moving average price of $382.81 and a 200 day moving average price of $378.93.

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

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a $0.84 dividend. 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%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SYK shares. Wells Fargo & Company upped their price target on Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Evercore ISI upped their price target on Stryker from $390.00 to $415.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Rothschild Redb upgraded Stryker to a “hold” rating in a report on Thursday, September 18th. Weiss Ratings restated a “buy (b-)” rating on shares of Stryker in a report on Saturday, September 27th. Finally, Redburn Partners set a $420.00 price target on Stryker in a report on Thursday, September 18th. Fifteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and a consensus target price 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.