New York State Teachers Retirement System cut its stake in shares of Stryker Corporation (NYSE:SYK – Free Report) by 2.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 265,708 shares of the medical technology company’s stock after selling 5,948 shares during the quarter. New York State Teachers Retirement System’s holdings in Stryker were worth $105,122,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Consolidated Portfolio Review Corp lifted its stake in shares of Stryker by 4.2% in the 2nd quarter. Consolidated Portfolio Review Corp now owns 648 shares of the medical technology company’s stock worth $256,000 after acquiring an additional 26 shares during the period. Sunflower Bank N.A. lifted its stake in shares of Stryker by 4.0% in the 2nd quarter. Sunflower Bank N.A. now owns 696 shares of the medical technology company’s stock worth $275,000 after acquiring an additional 27 shares during the period. Pitti Group Wealth Management LLC lifted its stake in shares of Stryker by 3.2% in the 2nd quarter. Pitti Group Wealth Management LLC now owns 861 shares of the medical technology company’s stock worth $341,000 after acquiring an additional 27 shares during the period. Sachetta LLC lifted its stake in shares of Stryker by 58.7% in the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after acquiring an additional 27 shares during the period. Finally, Comprehensive Financial Consultants Institutional Inc. lifted its stake in shares of Stryker by 0.6% in the 2nd quarter. Comprehensive Financial Consultants Institutional Inc. now owns 4,546 shares of the medical technology company’s stock worth $1,799,000 after acquiring an additional 28 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.
Insider Activity at Stryker
In other Stryker news, insider Viju Menon sold 500 shares of the company’s 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 transaction, the insider owned 12,511 shares in the company, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $75,290,000.00. Following the completion of the transaction, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
View Our Latest Stock Analysis on SYK
Stryker Stock Down 0.1%
Shares of NYSE:SYK opened at $369.60 on Thursday. 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 company has a market cap of $141.30 billion, a PE ratio of 48.95, a price-to-earnings-growth 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 firm has a 50 day simple moving average of $379.60 and a 200 day simple moving average of $378.78.
Stryker (NYSE:SYK – Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.07 by $0.06. The firm 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 revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, research analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.
Stryker Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, September 30th. 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.
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