Clarendon Private LLC Decreases Stock Position in Stryker Corporation $SYK

Clarendon Private LLC lessened its stake in shares of Stryker Corporation (NYSE:SYK) by 6.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,787 shares of the medical technology company’s stock after selling 115 shares during the period. Clarendon Private LLC’s holdings in Stryker were worth $707,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of SYK. Nuveen LLC purchased a new stake in Stryker during the 1st quarter valued at $558,075,000. Price T Rowe Associates Inc. MD raised its holdings in Stryker by 9.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company’s stock valued at $4,515,847,000 after buying an additional 1,021,496 shares during the period. Alliancebernstein L.P. raised its holdings in Stryker by 66.7% during the 1st quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company’s stock valued at $511,152,000 after buying an additional 549,643 shares during the period. Vanguard Group Inc. raised its holdings in Stryker by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company’s stock valued at $12,306,572,000 after buying an additional 361,136 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Stryker by 13.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company’s stock valued at $838,640,000 after buying an additional 261,058 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insiders Place Their Bets

In related news, 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 transaction of $195,305.00. Following the sale, the insider owned 12,511 shares of the company’s stock, valued at $4,886,921.71. This trade represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction dated 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 sale, the director directly owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on SYK shares. Wells Fargo & Company increased their price target on Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Stryker in a research note on Wednesday. Rothschild Redb upgraded Stryker to a “hold” rating in a research note on Thursday, September 18th. Needham & Company LLC increased their target price on Stryker from $442.00 to $448.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Finally, Truist Financial set a $415.00 target price on Stryker and gave the stock a “hold” rating in a research note on Monday, August 4th. Fifteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $430.10.

Stryker Price Performance

SYK opened at $364.77 on Friday. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. 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 business’s fifty day simple moving average is $380.25 and its 200-day simple moving average is $378.83. The company has a market capitalization of $139.46 billion, a price-to-earnings ratio of 48.31, a PEG ratio of 2.63 and a beta of 0.94.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The business 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 company earned $2.81 EPS. The business’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. On average, equities research analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. Stryker’s dividend payout ratio is presently 44.50%.

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.