TD Asset Management Inc Trims Stake in Stryker Corporation $SYK

by · The Markets Daily

TD Asset Management Inc cut its position in Stryker Corporation (NYSE:SYK – Free Report) by 57.4% in the second quarter, Holdings Channel reports. The firm owned 249,556 shares of the medical technology company’s stock after selling 335,655 shares during the period. TD Asset Management Inc’s holdings in Stryker were worth $78,570,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in SYK. River Wealth Advisors LLC increased its position in Stryker by 7.5% during the second quarter. River Wealth Advisors LLC now owns 29,350 shares of the medical technology company’s stock worth $9,241,000 after buying an additional 2,048 shares during the period. SmartHarvest Portfolios LLC boosted its holdings in shares of Stryker by 9.1% in the second quarter. SmartHarvest Portfolios LLC now owns 1,413 shares of the medical technology company’s stock valued at $445,000 after acquiring an additional 118 shares during the period. Ascent Group LLC grew its position in shares of Stryker by 17.1% during the second quarter. Ascent Group LLC now owns 15,162 shares of the medical technology company’s stock worth $4,774,000 after acquiring an additional 2,211 shares during the last quarter. Summit Securities Group LLC grew its position in shares of Stryker by 1,296.5% during the second quarter. Summit Securities Group LLC now owns 796 shares of the medical technology company’s stock worth $251,000 after acquiring an additional 739 shares during the last quarter. Finally, TCW Group Inc. increased its holdings in shares of Stryker by 1.8% in the 2nd quarter. TCW Group Inc. now owns 6,084 shares of the medical technology company’s stock valued at $1,915,000 after acquiring an additional 109 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wolfe Research cut shares of Stryker from an “outperform” rating to a “peer perform” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft set a $315.00 price objective on shares of Stryker in a research note on Friday, May 1st. Evercore set a $350.00 target price on shares of Stryker in a research note on Monday, July 6th. Truist Financial raised their price target on Stryker from $330.00 to $340.00 and gave the stock a “hold” rating in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. dropped their price target on Stryker from $400.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $386.28.

Check Out Our Latest Analysis on Stryker

Insider Buying and Selling

In other Stryker news, VP Robert S. Fletcher sold 4,544 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $306.87, for a total transaction of $1,394,417.28. Following the transaction, the vice president owned 10,582 shares in the company, valued at approximately $3,247,298.34. The trade was a 30.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ronda E. Stryker sold 310,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $312.23, for a total value of $96,791,300.00. Following the transaction, the director directly owned 1,924,880 shares of the company’s stock, valued at approximately $601,005,282.40. This trade represents a 13.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.60% of the stock is currently owned by insiders.

Stryker Stock Down 0.7%

Shares of Stryker stock opened at $338.80 on Friday. Stryker Corporation has a one year low of $281.00 and a one year high of $396.86. The company has a market cap of $129.95 billion, a P/E ratio of 35.11, a PEG ratio of 2.17 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.33 and a current ratio of 2.16. The firm has a fifty day moving average of $324.61 and a two-hundred day moving average of $333.57.

Stryker (NYSE:SYK – Get Free Report) last issued its earnings results on Thursday, July 30th. The medical technology company reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.20. Stryker had a net margin of 14.43% and a return on equity of 23.63%. The business had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.58 billion. During the same quarter in the previous year, the firm earned $3.13 earnings per share. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. On average, analysts forecast that Stryker Corporation will post 15.02 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be given a $0.88 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. Stryker’s dividend payout ratio (DPR) is presently 36.48%.

About Stryker

(Free Report)

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.

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