Adage Capital Partners GP L.L.C. Sells 10,044 Shares of Stryker Corporation $SYK

Adage Capital Partners GP L.L.C. lowered its position in Stryker Corporation (NYSE:SYK - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 134,347 shares of the medical technology company's stock after selling 10,044 shares during the quarter. Adage Capital Partners GP L.L.C.'s holdings in Stryker were worth $50,011,000 at the end of the most recent quarter.

• If You Could Only Hold 3 Investments for Life, Consider These

Several other institutional investors have also recently made changes to their positions in SYK. Elefante Mark B bought a new stake in Stryker during the fourth quarter worth about $337,000. Mogy Joel R Investment Counsel Inc. lifted its stake in Stryker by 3.4% during the first quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company's stock worth $36,561,000 after purchasing an additional 3,218 shares during the last quarter. Ferguson Wellman Capital Management Inc. lifted its stake in Stryker by 1.9% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock worth $65,096,000 after purchasing an additional 3,341 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in Stryker during the first quarter worth about $1,840,000. Finally, Mar Vista Investment Partners LLC lifted its stake in Stryker by 10.2% during the first quarter. Mar Vista Investment Partners LLC now owns 90,187 shares of the medical technology company's stock worth $33,572,000 after purchasing an additional 8,353 shares during the last quarter. Institutional investors own 77.09% of the company's stock.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the transaction, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Viju Menon sold 500 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $390.61, for a total value of $195,305.00. Following the transaction, the insider owned 12,511 shares in the company, valued at $4,886,921.71. This trade represents a 3.84% decrease in their position. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by corporate insiders.

Stryker Stock Performance

• 3 Stocks Helping to Bring AI to Healthcare

Stryker stock opened at $388.14 on Thursday. 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 firm has a 50-day moving average of $389.48 and a 200-day moving average of $379.51. The firm has a market cap of $148.39 billion, a P/E ratio of 51.41, a P/E/G ratio of 2.85 and a beta of 0.93. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, topping analysts' consensus estimates of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same period in the prior year, the business posted $2.81 earnings per share. Stryker's revenue for the quarter was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Sell-side analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

• Boston Scientific: Why This MedTech Giant Isn’t Slowing Down

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.84 per share. The ex-dividend date 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 44.50%.

Analysts Set New Price Targets

Several brokerages have issued reports on SYK. Wall Street Zen raised Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Needham & Company LLC raised their price objective on Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research note on Friday, August 1st. BTIG Research reaffirmed a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Citigroup reaffirmed a "buy" rating and set a $455.00 price objective (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Finally, Evercore ISI raised their price objective on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Fifteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $430.10.

Read Our Latest Stock Report on SYK

Stryker 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.

Featured Articles

• Five stocks we like better than Stryker
• Biggest Stock Losers - Today’s Biggest Percentage Decliners
• Back-to-School Shopping Hits $40B: 3 Retail Stocks to Watch Now
• What is an Earnings Surprise?
• Alphabet Stock Surges After Dodging Harsh Antitrust Remedies
• How to Calculate Options Profits
• Why Qualcomm Is Outperforming NVIDIA After Months of Lagging

Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Corporation (NYSE:SYK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Stryker Right Now?

Before you consider Stryker, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Stryker wasn't on the list.

While Stryker currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here