Schmidt P J Investment Management Inc. Reduces Stock Position in Stryker Corporation $SYK

Schmidt P J Investment Management Inc. decreased its stake in Stryker Corporation (NYSE:SYK) by 1.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,403 shares of the medical technology company’s stock after selling 331 shares during the quarter. Stryker makes up 1.5% of Schmidt P J Investment Management Inc.’s portfolio, making the stock its 19th biggest holding. Schmidt P J Investment Management Inc.’s holdings in Stryker were worth $7,967,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SYK. GAMMA Investing LLC boosted its stake in Stryker by 43,226.8% during the first quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company’s stock worth $772,390,000 after buying an additional 2,070,133 shares during the period. Nuveen LLC purchased a new stake in shares of Stryker during the first quarter valued at about $558,075,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Stryker by 9.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company’s stock valued at $4,515,847,000 after acquiring an additional 1,021,496 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of Stryker by 66.7% during the first quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company’s stock valued at $511,152,000 after acquiring an additional 549,643 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Stryker during the 4th quarter worth approximately $154,140,000. Institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Needham & Company LLC raised their price objective on shares of Stryker from $442.00 to $448.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Wells Fargo & Company lifted their price target on Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Evercore ISI boosted their price objective on shares of Stryker from $390.00 to $415.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Citigroup restated a “buy” rating and issued a $455.00 price objective (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Finally, Truist Financial set a $415.00 price objective on shares of Stryker and gave the company a “hold” rating in a report on Monday, August 4th. Fourteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $431.42.

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 stock was sold at an average price of $390.61, for a total value of $195,305.00. Following the completion of the sale, the insider directly owned 12,511 shares of the company’s stock, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 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 $1,212,962,556.60. The trade was a 5.84% 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

Shares of Stryker stock opened at $392.57 on Wednesday. The firm has a market capitalization of $150.08 billion, a P/E ratio of 52.00, a P/E/G ratio of 2.86 and a beta of 0.93. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The firm’s 50 day moving average is $389.39 and its two-hundred day moving average is $379.67.

Stryker (NYSE:SYK) last announced 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 company 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 firm’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Research analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

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