Eagle Rock Investment Company LLC increased its holdings in shares of Stryker Corporation (NYSE:SYK – Free Report) by 63.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,939 shares of the medical technology company’s stock after purchasing an additional 19,374 shares during the period. Stryker accounts for about 1.6% of Eagle Rock Investment Company LLC’s holdings, making the stock its 18th biggest holding. Eagle Rock Investment Company LLC’s holdings in Stryker were worth $13,753,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp raised its position in Stryker by 1.2% in the second quarter. State Street Corp now owns 15,532,565 shares of the medical technology company’s stock valued at $4,903,772,000 after purchasing an additional 183,400 shares during the period. Wellington Management Group LLP lifted its stake in shares of Stryker by 0.6% during the second quarter. Wellington Management Group LLP now owns 8,167,185 shares of the medical technology company’s stock worth $2,571,357,000 after purchasing an additional 45,478 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Stryker during the second quarter worth about $1,404,284,000. Royal Bank of Canada boosted its position in shares of Stryker by 6.5% in the first quarter. Royal Bank of Canada now owns 3,273,232 shares of the medical technology company’s stock worth $1,075,552,000 after buying an additional 199,863 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Stryker by 21.8% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,689,376 shares of the medical technology company’s stock worth $846,723,000 after buying an additional 481,175 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on SYK. Barclays upgraded Stryker to a “strong-buy” rating in a research note on Wednesday, October 7th. Stifel Nicolaus reduced their price target on Stryker from $360.00 to $330.00 and set a “buy” rating on the stock in a research report on Wednesday, September 30th. TD Cowen reduced their price target on Stryker from $355.00 to $298.00 and set a “hold” rating on the stock in a research report on Tuesday, September 22nd. Citigroup decreased their price target on Stryker from $399.00 to $360.00 and set a “buy” rating for the company in a report on Thursday, September 10th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Stryker from $400.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and an average target price of $369.00.
Check Out Our Latest Stock Report on Stryker
Stryker Stock Performance
Shares of SYK stock opened at $297.30 on Thursday. Stryker Corporation has a 12 month low of $267.00 and a 12 month high of $392.55. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.16 and a quick ratio of 1.33. The firm has a market capitalization of $114.03 billion, a P/E ratio of 30.81, a P/E/G ratio of 1.96 and a beta of 0.78. The company’s fifty day moving average price is $296.53 and its two-hundred day moving average price is $312.13.
Stryker (NYSE:SYK – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The medical technology company reported $3.69 earnings per share for the quarter, beating analysts’ consensus estimates of $3.49 by $0.20. The company had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $6.58 billion. Stryker had a net margin of 14.43% and a return on equity of 23.63%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.13 EPS. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. On average, research analysts anticipate that Stryker Corporation will post 14.93 earnings per share for the current fiscal year.
Stryker Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be paid a $0.88 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $3.52 annualized dividend and a dividend yield of 1.2%. Stryker’s payout ratio is 36.48%.
Insider Activity at Stryker
In other Stryker news, insider Debra King sold 826 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $336.30, for a total transaction of $277,783.80. Following the completion of the sale, the insider owned 6,210 shares in the company, valued at $2,088,423. This trade represents a 11.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronda E. Stryker sold 300,000 shares of Stryker stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $335.90, for a total value of $100,770,000.00. Following the sale, the director owned 2,301,375 shares in the company, valued at $773,031,862.50. This represents a 11.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 351,267 shares of company stock valued at $118,197,701. Insiders own 4.60% of the company’s stock.
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.
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