Oakworth Capital Inc. Trims Stock Position in Stryker Corporation $SYK

Oakworth Capital Inc. decreased its stake in Stryker Corporation (NYSE:SYK) by 2.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,012 shares of the medical technology company’s stock after selling 121 shares during the period. Oakworth Capital Inc.’s holdings in Stryker were worth $2,379,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Goodman Advisory Group LLC purchased a new position in shares of Stryker during the first quarter worth about $32,000. City Holding Co. boosted its position in shares of Stryker by 528.6% in the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock valued at $33,000 after purchasing an additional 74 shares during the period. Ridgewood Investments LLC increased its position in 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 during the period. Ransom Advisory Ltd acquired a new position in Stryker during the first quarter worth approximately $37,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of Stryker in the first quarter valued at approximately $40,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. BTIG Research reaffirmed a “buy” rating on shares of Stryker in a report on Monday, July 14th. Wall Street Zen cut shares of Stryker from a “buy” rating to a “hold” rating in a report on Friday. Wells Fargo & Company increased their target price 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. Truist Financial set a $415.00 price target on Stryker and gave the company a “hold” rating in a research report on Monday, August 4th. Finally, Redburn Partners set a $420.00 price objective on Stryker in a research note on Thursday, September 18th. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and a consensus price target of $430.33.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on 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 in the company, valued at approximately $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 accessible through the SEC website. Also, insider Viju Menon sold 500 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the completion of the transaction, the insider directly owned 12,511 shares in the company, valued at $4,886,921.71. This trade represents a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by corporate insiders.

Stryker Stock Performance

NYSE SYK opened at $368.83 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19. The firm has a market capitalization of $141.01 billion, a P/E ratio of 48.85, a P/E/G ratio of 2.66 and a beta of 0.93. The business’s 50-day simple moving average is $385.71 and its 200-day simple moving average is $379.18.

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

Stryker Dividend Announcement

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

Stryker 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.