Bank of Montreal Can Trims Holdings in Stryker Corporation $SYK

Bank of Montreal Can decreased its holdings in Stryker Corporation (NYSE:SYK) by 10.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 441,301 shares of the medical technology company’s stock after selling 51,155 shares during the quarter. Bank of Montreal Can owned about 0.12% of Stryker worth $174,592,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Stryker by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company’s stock valued at $12,306,572,000 after purchasing an additional 361,136 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Stryker by 9.2% in the 1st 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 purchasing an additional 1,021,496 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Stryker by 13.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company’s stock valued at $838,640,000 after purchasing an additional 261,058 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Stryker by 4.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,086,960 shares of the medical technology company’s stock valued at $776,871,000 after buying an additional 83,954 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Stryker by 1.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,015,374 shares of the medical technology company’s stock valued at $750,223,000 after buying an additional 30,329 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

SYK has been the topic of several recent research reports. BTIG Research boosted their price objective on shares of Stryker from $408.00 to $410.00 and gave the company a “buy” rating in a research note on Friday. Needham & Company LLC boosted their price objective on shares of Stryker from $442.00 to $448.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Evercore ISI dropped their price objective on shares of Stryker from $410.00 to $405.00 and set an “outperform” rating on the stock in a research note on Friday. Barclays boosted their price objective on shares of Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Finally, Rothschild & Co Redburn initiated coverage on shares of Stryker in a research note on Thursday, September 18th. They issued a “neutral” rating and a $420.00 price objective on the stock. Fourteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and a consensus target price of $433.37.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Viju Menon sold 500 shares of the 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 in the company, valued at approximately $4,886,921.71. The trade was a 3.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.90% of the stock is currently owned by corporate insiders.

Stryker Stock Performance

Shares of SYK opened at $358.24 on Tuesday. The company has a 50-day simple moving average of $377.43 and a 200-day simple moving average of $381.12. 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 company has a market capitalization of $136.96 billion, a PE ratio of 47.45, a P/E/G ratio of 2.66 and a beta of 0.94. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, October 30th. The medical technology company reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.13 by $0.06. The business had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $6.04 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.87 EPS. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. Equities research analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th were issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, September 30th. Stryker’s dividend payout ratio (DPR) is currently 44.15%.

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.