Tandem Capital Management Corp ADV Cuts Holdings in Stryker Corporation $SYK

Tandem Capital Management Corp ADV trimmed its position in Stryker Corporation (NYSE:SYK) by 0.4% during the second quarter, HoldingsChannel.com reports. The firm owned 14,877 shares of the medical technology company’s stock after selling 58 shares during the quarter. Stryker accounts for approximately 3.0% of Tandem Capital Management Corp ADV’s investment portfolio, making the stock its 5th biggest holding. Tandem Capital Management Corp ADV’s holdings in Stryker were worth $5,886,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Sachetta LLC lifted its holdings in shares of Stryker by 58.7% in the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 27 shares in the last quarter. Goodman Advisory Group LLC acquired a new stake in shares of Stryker in the first quarter valued at about $32,000. City Holding Co. increased its position in shares of Stryker by 528.6% in the first quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock valued at $33,000 after acquiring an additional 74 shares during the last quarter. Ridgewood Investments LLC increased its position in shares of Stryker by 48.4% in the second quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock valued at $36,000 after acquiring an additional 30 shares during the last quarter. Finally, Ransom Advisory Ltd acquired a new stake in shares of Stryker in the first quarter valued at about $37,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Price Performance

Stryker stock opened at $375.35 on Thursday. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The stock’s 50 day moving average is $380.99 and its 200-day moving average is $378.83. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $143.50 billion, a price-to-earnings ratio of 49.72, a PEG ratio of 2.66 and a beta of 0.94.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS 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 the consensus estimate of $5.92 billion. During the same quarter in the prior year, the business earned $2.81 earnings per share. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Equities research 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. Stockholders of record on Tuesday, September 30th will be given a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. Stryker’s dividend payout ratio is presently 44.50%.

Analysts Set New Price Targets

SYK has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Stryker in a research report on Wednesday. Rothschild & Co Redburn initiated coverage on Stryker in a research report on Thursday, September 18th. They issued a “neutral” rating and a $420.00 target price on the stock. Evercore ISI lowered their target price on Stryker from $418.00 to $410.00 and set an “outperform” rating on the stock in a research report on Tuesday. Redburn Partners set a $420.00 target price on Stryker in a research report on Thursday, September 18th. Finally, Wells Fargo & Company boosted their price target on Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Fifteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $430.10.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction that occurred on 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 approximately $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Viju Menon sold 500 shares of the business’s stock in a transaction that occurred 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 sale, 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 can be found here. 5.90% of the stock is currently owned by corporate insiders.

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.