Stryker Corporation $SYK Shares Sold by AlTi Global Inc.

AlTi Global Inc. decreased its holdings in Stryker Corporation (NYSE:SYK) by 56.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 911 shares of the medical technology company’s stock after selling 1,202 shares during the period. AlTi Global Inc.’s holdings in Stryker were worth $361,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of SYK. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Stryker in the second quarter worth $26,000. Sachetta LLC grew its stake in shares of Stryker by 58.7% in the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after acquiring an additional 27 shares in the last quarter. Goodman Advisory Group LLC acquired a new position in shares of Stryker in the first quarter worth $32,000. Ridgewood Investments LLC grew its stake in shares of Stryker by 48.4% in the second quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock worth $36,000 after acquiring an additional 30 shares in the last quarter. Finally, Ransom Advisory Ltd acquired a new position in shares of Stryker in the first quarter worth $37,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on SYK shares. Weiss Ratings restated a “buy (b-)” rating on shares of Stryker in a research note on Friday. Rothschild Redb upgraded shares of Stryker to a “hold” rating in a research note on Thursday, September 18th. Evercore ISI lowered their target price on shares of Stryker from $418.00 to $410.00 and set an “outperform” rating for the company in a research note on Tuesday, October 7th. Wall Street Zen upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Finally, Wells Fargo & Company boosted 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. Fifteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $432.24.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were 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 approximately $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Viju Menon sold 500 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $390.61, for a total transaction of $195,305.00. Following the completion of 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 insiders.

Stryker Price Performance

Shares of SYK opened at $381.86 on Friday. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19. The stock has a market cap of $145.99 billion, a PE ratio of 50.58, a price-to-earnings-growth ratio of 2.75 and a beta of 0.94. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. The firm has a fifty day moving average price of $379.84 and a 200 day moving average price of $380.03.

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

Stryker Announces Dividend

The business also recently declared 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 yield of 0.9%. Stryker’s payout ratio is 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.