Stryker Corporation $SYK Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its position in Stryker Corporation (NYSE:SYK) by 2.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 265,708 shares of the medical technology company’s stock after selling 5,948 shares during the period. New York State Teachers Retirement System owned about 0.07% of Stryker worth $105,122,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Mar Vista Investment Partners LLC lifted its position in Stryker by 10.2% in the first quarter. Mar Vista Investment Partners LLC now owns 90,187 shares of the medical technology company’s stock valued at $33,572,000 after purchasing an additional 8,353 shares during the period. United Services Automobile Association acquired a new stake in Stryker in the first quarter valued at about $2,857,000. AXS Investments LLC lifted its position in Stryker by 13.7% in the first quarter. AXS Investments LLC now owns 8,827 shares of the medical technology company’s stock valued at $3,286,000 after purchasing an additional 1,062 shares during the period. Park Edge Advisors LLC acquired a new stake in Stryker in the second quarter valued at about $679,000. Finally, Hendley & Co. Inc. lifted its position in Stryker by 60.3% in the second quarter. Hendley & Co. Inc. now owns 14,018 shares of the medical technology company’s stock valued at $5,546,000 after purchasing an additional 5,274 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Activity at Stryker

In other news, insider Viju Menon sold 500 shares of the business’s stock in a transaction 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ronda E. Stryker sold 200,000 shares of the business’s 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 sale, the director directly owned 3,222,108 shares of the company’s stock, valued at $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on SYK. Evercore ISI reduced their price objective on shares of Stryker from $418.00 to $410.00 and set an “outperform” rating for the company in a research report on Tuesday, October 7th. Rothschild & Co Redburn assumed coverage on shares of Stryker in a research report on Thursday, September 18th. They set a “neutral” rating and a $420.00 price target for the company. Rothschild Redb upgraded shares of Stryker to a “hold” rating in a research report on Thursday, September 18th. Needham & Company LLC lifted their price target on shares of Stryker from $442.00 to $448.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Finally, BTIG Research lifted their price target on shares of Stryker from $407.00 to $408.00 and gave the company a “buy” rating in a research report on Monday. Fifteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $431.76.

Stryker Stock Down 0.1%

SYK stock opened at $369.60 on Thursday. The stock has a market capitalization of $141.30 billion, a P/E ratio of 48.95, a PEG ratio of 2.67 and a beta of 0.94. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. Stryker Corporation has a one year low of $329.16 and a one year high of $406.19. The company has a 50 day moving average price of $379.60 and a two-hundred day moving average price of $378.78.

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

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid 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 payout ratio is presently 44.50%.

Stryker Company 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.