National Bank of Canada FI Sells 21,990 Shares of Stryker Corporation $SYK

National Bank of Canada FI reduced its holdings in Stryker Corporation (NYSE:SYK) by 5.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 352,048 shares of the medical technology company’s stock after selling 21,990 shares during the quarter. National Bank of Canada FI owned about 0.09% of Stryker worth $139,262,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Brighton Jones LLC increased its position in Stryker by 15.4% during the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock valued at $1,643,000 after purchasing an additional 609 shares during the period. Vestmark Advisory Solutions Inc. boosted its stake in shares of Stryker by 136.6% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 4,304 shares of the medical technology company’s stock valued at $1,602,000 after purchasing an additional 2,485 shares in the last quarter. Kovitz Investment Group Partners LLC increased its position in shares of Stryker by 47.9% during the first quarter. Kovitz Investment Group Partners LLC now owns 11,948 shares of the medical technology company’s stock valued at $4,448,000 after buying an additional 3,871 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Stryker by 19.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,756 shares of the medical technology company’s stock valued at $654,000 after buying an additional 287 shares during the period. Finally, Cresset Asset Management LLC raised its stake in Stryker by 20.1% in the first quarter. Cresset Asset Management LLC now owns 21,313 shares of the medical technology company’s stock worth $7,952,000 after buying an additional 3,568 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on SYK. Rothschild & Co Redburn initiated coverage on Stryker in a research report on Thursday, September 18th. They set a “neutral” rating and a $420.00 price objective on the stock. Citigroup dropped their price target on Stryker from $455.00 to $420.00 and set a “buy” rating on the stock in a research report on Thursday. Barclays upped their price target on Stryker from $443.00 to $453.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Stryker in a report on Monday, December 8th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Stryker in a report on Monday, November 3rd. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $431.83.

Stryker Stock Up 0.3%

Shares of NYSE:SYK opened at $353.99 on Monday. The company has a current ratio of 1.85, a quick ratio of 1.13 and a debt-to-equity ratio of 0.68. The stock has a fifty day simple moving average of $366.81 and a two-hundred day simple moving average of $378.45. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The stock has a market capitalization of $135.37 billion, a price-to-earnings ratio of 46.52, a PEG ratio of 2.51 and a beta of 0.89.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, October 30th. The medical technology company reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.13 by $0.06. The firm had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $6.04 billion. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The company’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the company earned $2.87 earnings per share. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. On average, research analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be paid a $0.88 dividend. This is a boost from Stryker’s previous quarterly dividend of $0.84. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, December 31st. Stryker’s payout ratio is currently 44.15%.

Insider Transactions at Stryker

In other news, CFO Preston Wendell Wells sold 165 shares of the stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $365.88, for a total transaction of $60,370.20. Following the sale, the chief financial officer owned 6,694 shares in the company, valued at $2,449,200.72. This represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ronda E. Stryker sold 276,173 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the completion of the transaction, the director owned 2,702,108 shares of the company’s stock, valued at approximately $954,600,714.24. The trade was a 9.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 522,118 shares of company stock worth $185,381,932. Corporate insiders own 5.20% of the company’s stock.

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.