Conning Inc. Decreases Stock Holdings in Stryker Corporation $SYK

Conning Inc. cut its stake in Stryker Corporation (NYSE:SYK) by 2.7% in the second quarter, Holdings Channel.com reports. The fund owned 2,482 shares of the medical technology company’s stock after selling 69 shares during the quarter. Conning Inc.’s holdings in Stryker were worth $982,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sachetta LLC lifted its position in Stryker by 58.7% in the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 27 shares during the last quarter. Goodman Advisory Group LLC purchased a new stake in Stryker in the first quarter valued at $32,000. Ridgewood Investments LLC lifted its position 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 acquiring an additional 30 shares during the last quarter. Ransom Advisory Ltd acquired a new position in Stryker in the first quarter valued at $37,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in Stryker in the first quarter valued at $40,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on SYK. Evercore ISI dropped their price objective on shares of Stryker from $418.00 to $410.00 and set an “outperform” rating on the stock in a research note on Tuesday. Wells Fargo & Company boosted their price target on shares of Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Redburn Partners set a $420.00 price target on shares of Stryker in a research note on Thursday, September 18th. Wall Street Zen downgraded shares of Stryker from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Finally, BTIG Research reissued a “buy” rating on shares of Stryker in a report on Monday, July 14th. Fifteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $430.10.

Insider Activity at Stryker

In other news, insider Viju Menon sold 500 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were 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 in the company, valued at $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the completion of the sale, the director owned 3,222,108 shares in the company, valued at $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. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Down 1.5%

SYK stock opened at $364.77 on Friday. The company has a market cap of $139.46 billion, a P/E ratio of 48.31, a P/E/G ratio of 2.67 and a beta of 0.94. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19. The company’s 50-day moving average price is $380.25 and its 200 day moving average price is $378.75. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70.

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

Stryker Dividend Announcement

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

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.