Courier Capital LLC Cuts Stake in Stryker Corporation $SYK

Courier Capital LLC reduced its stake in Stryker Corporation (NYSE:SYK) by 1.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,703 shares of the medical technology company’s stock after selling 37 shares during the period. Courier Capital LLC’s holdings in Stryker were worth $1,465,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Mar Vista Investment Partners LLC grew its stake in shares of 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 worth $33,572,000 after acquiring an additional 8,353 shares during the last quarter. United Services Automobile Association purchased a new stake in shares of Stryker in the first quarter worth $2,857,000. AXS Investments LLC grew its stake in shares of Stryker by 13.7% in the first quarter. AXS Investments LLC now owns 8,827 shares of the medical technology company’s stock worth $3,286,000 after acquiring an additional 1,062 shares during the last quarter. Park Edge Advisors LLC purchased a new stake in shares of Stryker in the second quarter worth $679,000. Finally, Focus Partners Wealth grew its stake in shares of Stryker by 1.7% in the first quarter. Focus Partners Wealth now owns 130,156 shares of the medical technology company’s stock worth $48,451,000 after acquiring an additional 2,167 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Trading Up 1.5%

Shares of NYSE:SYK opened at $370.27 on Wednesday. The stock has a market capitalization of $141.56 billion, a price-to-earnings ratio of 49.04, a PEG ratio of 2.63 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. The stock’s 50-day simple moving average is $379.71 and its two-hundred day simple moving average is $378.85. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19.

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

Stryker Dividend Announcement

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 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 presently 44.50%.

Insider Activity

In other news, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the transaction, the director owned 3,222,108 shares of the company’s stock, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Viju Menon sold 500 shares of the firm’s stock in a transaction dated 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 transaction, the insider directly owned 12,511 shares in the company, valued at $4,886,921.71. This trade represents a 3.84% decrease in their position. The disclosure for this sale can be found here. 5.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SYK shares. Rothschild & Co Redburn initiated coverage on Stryker in a research note on Thursday, September 18th. They issued a “neutral” rating and a $420.00 target price on the stock. Evercore ISI dropped their price objective on Stryker from $418.00 to $410.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 7th. BTIG Research increased their price objective on Stryker from $407.00 to $408.00 and gave the company a “buy” rating in a research report on Monday. Rothschild Redb raised Stryker to a “hold” rating in a research report on Thursday, September 18th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Stryker in a research report on Wednesday, October 8th. Fifteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus price target of $432.14.

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.