Candriam S.C.A. Trims Holdings in Stryker Corporation $SYK

Candriam S.C.A. reduced its stake in Stryker Corporation (NYSE:SYK) by 2.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 179,077 shares of the medical technology company’s stock after selling 4,190 shares during the quarter. Candriam S.C.A.’s holdings in Stryker were worth $70,851,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Calamos Advisors LLC grew its holdings in shares of Stryker by 6.4% in the second quarter. Calamos Advisors LLC now owns 99,783 shares of the medical technology company’s stock valued at $39,477,000 after purchasing an additional 5,997 shares during the period. Geode Capital Management LLC grew its stake in shares of Stryker by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 7,393,611 shares of the medical technology company’s stock valued at $2,910,445,000 after buying an additional 79,654 shares during the period. Marble Harbor Investment Counsel LLC increased its holdings in shares of Stryker by 1.2% during the 2nd quarter. Marble Harbor Investment Counsel LLC now owns 28,136 shares of the medical technology company’s stock worth $11,131,000 after buying an additional 336 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Stryker by 1.7% in the second quarter. PNC Financial Services Group Inc. now owns 1,050,602 shares of the medical technology company’s stock valued at $415,650,000 after acquiring an additional 17,278 shares during the last quarter. Finally, Wealth Alliance LLC grew its position in Stryker by 2.1% in the second quarter. Wealth Alliance LLC now owns 1,900 shares of the medical technology company’s stock worth $752,000 after acquiring an additional 39 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Up 1.1%

Shares of SYK opened at $367.65 on Thursday. The company’s 50-day simple moving average is $372.98 and its 200-day simple moving average is $381.24. 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 1 year low of $329.16 and a 1 year high of $406.19. The stock has a market capitalization of $140.60 billion, a PE ratio of 48.70, a P/E/G ratio of 2.66 and a beta of 0.94.

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

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 276,173 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total value of $97,566,397.44. Following the sale, the director directly owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. This trade represents a 9.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the completion of the transaction, the insider 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 is available in the SEC filing. Insiders have sold 520,500 shares of company stock worth $184,803,065 in the last ninety days. Corporate insiders own 5.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Weiss Ratings downgraded Stryker from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, November 7th. 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 report on Friday, October 31st. Evercore ISI lowered their target price on shares of Stryker from $410.00 to $405.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. Rothschild Redb raised shares of Stryker to a “hold” rating in a research note on Thursday, September 18th. Finally, Truist Financial restated a “hold” rating and issued a $392.00 price objective (down from $407.00) on shares of Stryker in a report on Monday, November 3rd. Thirteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $433.37.

Stryker 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.