Stryker Corporation $SYK Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its position in Stryker Corporation (NYSE:SYK) by 10.4% during the second quarter, Holdings Channel.com reports. The firm owned 441,301 shares of the medical technology company’s stock after selling 51,155 shares during the period. Bank of Montreal Can’s holdings in Stryker were worth $174,592,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Stryker during the second quarter worth about $26,000. Sachetta LLC grew its holdings in shares of Stryker by 58.7% during the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after buying an additional 27 shares in the last quarter. Ridgewood Investments LLC grew its holdings in shares of Stryker by 48.4% during the second quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock worth $36,000 after buying an additional 30 shares in the last quarter. Ransom Advisory Ltd purchased a new stake in shares of Stryker during the first quarter worth about $37,000. Finally, Solstein Capital LLC purchased a new stake in shares of Stryker during the second quarter worth about $43,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on SYK. UBS Group set a $408.00 price target on shares of Stryker in a report on Monday, October 13th. Wells Fargo & Company raised their target price on shares of Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Truist Financial reissued a “hold” rating and issued a $392.00 target price (down from $407.00) on shares of Stryker in a research report on Monday. Evercore ISI decreased their target price on shares of Stryker from $410.00 to $405.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Needham & Company LLC raised their target price on shares of Stryker from $442.00 to $448.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Fourteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $433.37.

Insider Buying and Selling

In other Stryker news, insider Viju Menon sold 500 shares of Stryker stock in a transaction that occurred 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. The trade was a 3.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of Stryker 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 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 SEC filing for this sale provides additional information. Insiders own 5.90% of the company’s stock.

Stryker Trading Up 0.6%

Shares of SYK stock opened at $358.24 on Tuesday. The stock has a market cap of $136.96 billion, a price-to-earnings ratio of 47.45, a price-to-earnings-growth ratio of 2.66 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 fifty-two week low of $329.16 and a fifty-two week high of $406.19. The firm’s 50 day moving average price is $377.43 and its two-hundred day moving average price is $381.12.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, October 30th. The medical technology company reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.13 by $0.06. The firm had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $6.04 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. Stryker’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.87 earnings per share. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. On average, analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th were given 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 was Tuesday, September 30th. Stryker’s payout ratio is 44.15%.

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.