Confluence Investment Management LLC Sells 6,209 Shares of Stryker Corporation $SYK

Confluence Investment Management LLC trimmed its position in shares of Stryker Corporation (NYSE:SYK) by 2.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 226,373 shares of the medical technology company’s stock after selling 6,209 shares during the period. Confluence Investment Management LLC’s holdings in Stryker were worth $83,683,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of Stryker by 15.4% in 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. T. Rowe Price Investment Management Inc. increased its position in Stryker by 79.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 3,532 shares of the medical technology company’s stock worth $1,315,000 after buying an additional 1,561 shares during the last quarter. AlphaQuest LLC increased its position in Stryker by 21,855.6% during the first quarter. AlphaQuest LLC now owns 1,976 shares of the medical technology company’s stock worth $736,000 after buying an additional 1,967 shares during the last quarter. Sax Wealth Advisors LLC bought a new stake in Stryker in the first quarter valued at approximately $229,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Stryker by 5.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 52,856 shares of the medical technology company’s stock valued at $19,676,000 after buying an additional 2,713 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SYK shares. Citizens Jmp raised Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 target price on the stock in a report on Friday. BTIG Research reiterated a “buy” rating and issued a $410.00 price objective on shares of Stryker in a report on Friday, November 14th. Evercore ISI dropped their price objective on shares of Stryker from $410.00 to $405.00 and set an “outperform” rating on the stock in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Stryker in a report on Monday, December 15th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Stryker in a report on Monday, November 3rd. Thirteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus target price of $431.84.

Stryker Stock Up 0.4%

Shares of SYK opened at $356.50 on Tuesday. The stock has a market capitalization of $136.33 billion, a PE ratio of 46.85, a P/E/G ratio of 2.51 and a beta of 0.89. 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 firm’s 50 day moving average is $365.09 and its 200-day moving average is $377.26. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19.

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

Stryker Increases Dividend

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

Insider Buying and Selling

In related news, CAO William E. Berry, Jr. sold 1,953 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $365.49, for a total value of $713,801.97. Following the sale, the chief accounting officer directly owned 2,833 shares of the company’s stock, valued at $1,035,433.17. This trade represents a 40.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Preston Wendell Wells sold 165 shares of the firm’s 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 completion of the sale, the chief financial officer owned 6,694 shares in the company, valued at approximately $2,449,200.72. The trade was a 2.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 522,118 shares of company stock worth $185,381,932 in the last ninety days. 5.20% of the stock is owned by insiders.

Stryker Company Profile

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.