Peterson Wealth Services Sells 14,232 Shares of Stryker Corporation $SYK

Peterson Wealth Services cut its holdings in shares of Stryker Corporation (NYSE:SYK) by 99.2% during the 3rd quarter, Holdings Channel reports. The firm owned 109 shares of the medical technology company’s stock after selling 14,232 shares during the period. Peterson Wealth Services’ holdings in Stryker were worth $30,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SYK. Amundi increased its position in shares of Stryker by 18.3% in the second quarter. Amundi now owns 1,246,353 shares of the medical technology company’s stock worth $392,402,000 after purchasing an additional 192,447 shares during the period. The Manufacturers Life Insurance Company raised its stake in Stryker by 8.2% in the second quarter. The Manufacturers Life Insurance Company now owns 859,544 shares of the medical technology company’s stock valued at $270,642,000 after purchasing an additional 65,333 shares in the last quarter. Veritas Asset Management LLP acquired a new position in Stryker in the second quarter valued at about $168,057,000. Bank of America Corp DE bought a new stake in Stryker during the second quarter worth about $1,404,284,000. Finally, Rakuten Investment Management Inc. bought a new stake in Stryker during the second quarter worth about $18,646,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SYK. TD Cowen reduced their price objective on shares of Stryker from $355.00 to $298.00 and set a “hold” rating on the stock in a research note on Tuesday, September 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Stryker in a research report on Friday, July 31st. Wells Fargo & Company dropped their target price on shares of Stryker from $418.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, September 9th. UBS Group assumed coverage on shares of Stryker in a report on Tuesday, July 28th. They set a “buy” rating and a $400.00 price target for the company. Finally, Wall Street Zen lowered shares of Stryker from a “buy” rating to a “hold” rating in a research report on Saturday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $369.00.

Stryker Trading Down 1.5%

Shares of SYK opened at $301.59 on Wednesday. Stryker Corporation has a 52-week low of $267.00 and a 52-week high of $389.33. The business’s fifty day moving average is $294.70 and its 200-day moving average is $325.45.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, July 30th. The medical technology company reported $3.69 earnings per share for the quarter, topping the consensus estimate of $3.49 by $0.20. The business had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.58 billion. Stryker’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.13 earnings per share. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. Research analysts forecast that Stryker Corporation will post 14.93 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.52 annualized dividend and a yield of 1.2%.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 300,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $335.90, for a total value of $100,770,000.00. Following the sale, the director directly owned 2,301,375 shares in the company, valued at approximately $773,031,862.50. This trade represents a 11.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Debra King sold 826 shares of Stryker stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total transaction of $277,783.80. Following the sale, the insider directly owned 6,210 shares in the company, valued at $2,088,423. This trade represents a 11.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 351,267 shares of company stock valued at $118,197,701. 4.60% of the stock is currently owned by corporate insiders.

About Stryker

Stryker Corporation (NYSE: SYK) is a global medical technology company that develops and manufactures products used by healthcare providers in hospitals, surgical centers and other clinical settings. Its offerings are designed to support orthopaedic procedures, surgery, emergency care, neurovascular treatment and patient handling.

The company’s product portfolio includes orthopaedic implants and instruments, products for trauma and spine procedures, surgical equipment, endoscopy systems, patient beds and stretchers, emergency medical equipment, and neurovascular devices used in the treatment of conditions such as stroke.