Citizens Financial Group Inc. RI trimmed its holdings in Stryker Corporation (NYSE:SYK – Free Report) by 26.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,089 shares of the medical technology company’s stock after selling 17,986 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Stryker were worth $13,519,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in SYK. Bank of America Corp DE purchased a new position in shares of Stryker in the second quarter worth $1,404,284,000. Legal & General Group Plc bought a new position in shares of Stryker during the second quarter worth $707,212,000. Jupiter Topco LLC bought a new position in shares of Stryker during the second quarter worth $681,581,000. Corient Private Wealth LP bought a new position in shares of Stryker during the second quarter worth $323,035,000. Finally, Flossbach Von Storch SE purchased a new position in Stryker during the second quarter valued at $464,506,000. 77.09% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of brokerages have issued reports on SYK. Wells Fargo & Company reduced their price target on shares of Stryker from $418.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, September 9th. BMO Capital Markets restated an “outperform” rating and set a $317.00 price objective on shares of Stryker in a research report on Wednesday, September 9th. Truist Financial reduced their target price on Stryker from $340.00 to $310.00 and set a “hold” rating on the stock in a report on Tuesday, October 6th. Citigroup decreased their target price on Stryker from $399.00 to $360.00 and set a “buy” rating on the stock in a research report on Thursday, September 10th. Finally, Evercore set a $350.00 price target on Stryker in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $369.00.
Stryker Trading Up 0.2%
SYK stock opened at $307.65 on Friday. The firm has a fifty day moving average price of $295.23 and a 200 day moving average price of $311.93. Stryker Corporation has a fifty-two week low of $267.00 and a fifty-two week high of $389.33. The firm has a market cap of $118.01 billion, a PE ratio of 31.88, a price-to-earnings-growth ratio of 1.98 and a beta of 0.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.33 and a current ratio of 2.16.
Stryker (NYSE:SYK – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The medical technology company reported $3.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.49 by $0.20. Stryker had a net margin of 14.43% and a return on equity of 23.63%. The company had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.58 billion. During the same quarter in the prior year, the firm earned $3.13 earnings per share. Stryker’s revenue was up 9.4% on a year-over-year basis. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. Sell-side analysts anticipate that Stryker Corporation will post 14.93 earnings per share for the current fiscal year.
Stryker Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be issued a $0.88 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.1%. Stryker’s payout ratio is 36.48%.
Insider Transactions at Stryker
In related news, insider Dylan Crotty sold 441 shares of Stryker stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $328.61, for a total value of $144,917.01. Following the completion of the transaction, the insider owned 6,102 shares in the company, valued at approximately $2,005,178.22. This trade represents a 6.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Debra King sold 826 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total value of $277,783.80. Following the sale, the insider owned 6,210 shares in the company, valued at approximately $2,088,423. This trade represents a 11.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 351,267 shares of company stock worth $118,197,701 in the last three months. Insiders own 4.60% of the company’s stock.
Stryker Company Profile
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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