Stryker Corporation $SYK Shares Sold by Conning Inc.

Conning Inc. decreased its holdings in Stryker Corporation (NYSE:SYK) by 2.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,482 shares of the medical technology company’s stock after selling 69 shares during the period. Conning Inc.’s holdings in Stryker were worth $982,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SYK. Brighton Jones LLC raised its holdings in Stryker by 15.4% in the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock valued at $1,643,000 after acquiring an additional 609 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Stryker by 16.4% during the 1st quarter. GAMMA Investing LLC now owns 5,574 shares of the medical technology company’s stock worth $2,075,000 after buying an additional 785 shares during the last quarter. Integrated Advisors Network LLC increased its holdings in shares of Stryker by 10.7% during the 1st quarter. Integrated Advisors Network LLC now owns 3,781 shares of the medical technology company’s stock worth $1,407,000 after buying an additional 366 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Stryker by 1.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 10,375 shares of the medical technology company’s stock worth $3,862,000 after buying an additional 110 shares during the last quarter. Finally, Focus Financial Network Inc. acquired a new stake in shares of Stryker during the 1st quarter worth approximately $214,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on SYK shares. Rothschild Redb upgraded shares of Stryker to a “hold” rating in a report on Thursday, September 18th. BTIG Research restated a “buy” rating on shares of Stryker in a report on Monday, July 14th. Evercore ISI cut their price target on shares of Stryker from $418.00 to $410.00 and set an “outperform” rating for the company in a report on Tuesday. Truist Financial set a $415.00 target price on shares of Stryker and gave the company a “hold” rating in a report on Monday, August 4th. Finally, Wall Street Zen downgraded shares of Stryker from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Fifteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $430.10.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction 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 sale, the director directly owned 3,222,108 shares of the company’s stock, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their position. The transaction 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 Stryker stock in a transaction on Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the sale, the insider directly owned 12,511 shares of the company’s stock, valued at approximately $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. Company insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Shares of SYK stock opened at $364.77 on Friday. 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 52 week low of $329.16 and a 52 week high of $406.19. The stock has a market capitalization of $139.46 billion, a PE ratio of 48.31, a P/E/G ratio of 2.67 and a beta of 0.94. The firm has a 50 day moving average of $380.25 and a two-hundred day moving average of $378.75.

Stryker (NYSE:SYK) last issued 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. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $5.92 billion. During the same quarter last year, the company posted $2.81 EPS. The firm’s 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. On average, research analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker’s dividend payout ratio (DPR) 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.