Stryker Corporation $SYK Shares Sold by Redwood Investments LLC

by · The Markets Daily

Redwood Investments LLC lowered its stake in Stryker Corporation (NYSE:SYKFree Report) by 0.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,321 shares of the medical technology company’s stock after selling 112 shares during the period. Stryker makes up approximately 2.6% of Redwood Investments LLC’s holdings, making the stock its 9th biggest position. Redwood Investments LLC’s holdings in Stryker were worth $6,820,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mogy Joel R Investment Counsel Inc. lifted its position in shares of Stryker by 3.4% in the first quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company’s stock worth $36,561,000 after buying an additional 3,218 shares during the last quarter. Ferguson Wellman Capital Management Inc. lifted its position in shares of Stryker by 1.9% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company’s stock worth $65,096,000 after buying an additional 3,341 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Stryker in the first quarter worth about $1,840,000. Mar Vista Investment Partners LLC lifted its position 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 buying an additional 8,353 shares during the last quarter. Finally, AXS Investments LLC boosted its stake in Stryker by 13.7% during the 1st 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. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SYK shares. Evercore ISI raised their target price on Stryker from $390.00 to $415.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Wells Fargo & Company raised their target price on Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a report on Friday, August 1st. BTIG Research reaffirmed a “buy” rating on shares of Stryker in a report on Monday, July 14th. Needham & Company LLC raised their target price on Stryker from $442.00 to $448.00 and gave the company a “buy” rating in a report on Friday, August 1st. Finally, Truist Financial set a $415.00 price target on Stryker and gave the company a “hold” rating in a report on Monday, August 4th. Fifteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $430.10.

View Our Latest Analysis on SYK

Insider Activity at Stryker

In other news, insider Viju Menon sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $390.61, for a total value of $195,305.00. Following the sale, the insider directly owned 12,511 shares in the company, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the director owned 3,222,108 shares in the company, valued at approximately $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. Corporate insiders own 5.20% of the company’s stock.

Stryker Trading Down 0.6%

SYK stock opened at $392.02 on Monday. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19. The firm has a market cap of $149.87 billion, a P/E ratio of 51.92, a P/E/G ratio of 2.85 and a beta of 0.93. The business’s 50 day moving average is $389.52 and its 200-day moving average is $379.51. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70.

Stryker (NYSE:SYKGet Free Report) last released its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same period in the prior year, the company posted $2.81 EPS. The company’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. Equities analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker’s dividend payout ratio is currently 44.50%.

Stryker Company Profile

(Free Report)

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.

Further Reading

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