GRIMES & Co WEALTH MANAGEMENT LLC Sells 2,400 Shares of Stryker Corporation $SYK

GRIMES & Co WEALTH MANAGEMENT LLC cut its position in shares of Stryker Corporation (NYSE:SYK) by 27.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,367 shares of the medical technology company’s stock after selling 2,400 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Stryker were worth $2,238,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Stryker by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 33,907,291 shares of the medical technology company’s stock valued at $11,917,396,000 after buying an additional 133,892 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Stryker by 13.3% during the third quarter. Alliancebernstein L.P. now owns 6,338,050 shares of the medical technology company’s stock valued at $2,342,987,000 after buying an additional 741,542 shares during the last quarter. Legal & General Group Plc boosted its stake in Stryker by 4.4% during the third quarter. Legal & General Group Plc now owns 2,303,290 shares of the medical technology company’s stock valued at $851,457,000 after buying an additional 96,662 shares during the last quarter. Corient Private Wealth LLC boosted its stake in Stryker by 104.4% during the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock valued at $887,525,000 after buying an additional 1,146,998 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Stryker by 4.5% during the third quarter. Invesco Ltd. now owns 1,864,918 shares of the medical technology company’s stock valued at $689,404,000 after buying an additional 80,536 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Stryker Trading Down 3.0%

Shares of SYK stock opened at $285.49 on Friday. Stryker Corporation has a 1 year low of $284.95 and a 1 year high of $404.87. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.11 and a quick ratio of 1.25. The stock’s 50 day simple moving average is $340.37 and its two-hundred day simple moving average is $355.17. The company has a market cap of $109.34 billion, a PE ratio of 33.04, a price-to-earnings-growth ratio of 1.85 and a beta of 0.80.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, April 30th. The medical technology company reported $2.60 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.38). Stryker had a return on equity of 23.42% and a net margin of 13.20%.The business had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $6.34 billion. During the same quarter in the previous year, the company posted $2.84 earnings per share. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. Research analysts predict that Stryker Corporation will post 14.98 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, June 30th. Stryker’s dividend payout ratio is presently 40.74%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SYK. Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Jefferies Financial Group restated a “buy” rating and set a $465.00 price objective on shares of Stryker in a research report on Wednesday, March 4th. Truist Financial restated a “hold” rating and set a $330.00 price objective (down from $380.00) on shares of Stryker in a research report on Monday. Barclays decreased their price objective on Stryker from $469.00 to $394.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Canaccord Genuity Group decreased their price objective on Stryker from $435.00 to $400.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Sixteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $395.48.

Stryker 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.