Magellan Asset Management Ltd Has $209.98 Million Position in Stryker Corporation $SYK

Magellan Asset Management Ltd trimmed its stake in shares of Stryker Corporation (NYSE:SYK) by 1.1% in the second quarter, HoldingsChannel.com reports. The fund owned 530,744 shares of the medical technology company’s stock after selling 5,671 shares during the quarter. Stryker comprises about 2.4% of Magellan Asset Management Ltd’s investment portfolio, making the stock its 14th biggest position. Magellan Asset Management Ltd’s holdings in Stryker were worth $209,978,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Stryker in the 2nd quarter valued at approximately $26,000. Sachetta LLC raised its stake in shares of Stryker by 58.7% during the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 27 shares during the last quarter. Ridgewood Investments LLC lifted its holdings in Stryker by 48.4% during the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock worth $36,000 after buying an additional 30 shares during the period. Ransom Advisory Ltd bought a new stake in shares of Stryker in the 1st quarter valued at $37,000. Finally, Solstein Capital LLC bought a new position in Stryker during the second quarter worth $43,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other Stryker news, insider Viju Menon sold 500 shares of the company’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the transaction, the insider directly owned 12,511 shares in the company, valued at $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronda E. Stryker sold 276,173 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the transaction, the director owned 2,702,108 shares of the company’s stock, valued at $954,600,714.24. This trade represents a 9.27% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 520,500 shares of company stock valued at $184,803,065. 5.90% of the stock is owned by insiders.

Stryker Stock Up 0.5%

NYSE:SYK opened at $355.74 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. The firm has a market cap of $136.04 billion, a PE ratio of 47.12, a price-to-earnings-growth ratio of 2.66 and a beta of 0.94. The company has a 50-day moving average of $374.63 and a 200 day moving average of $380.99. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, October 30th. The medical technology company reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.13 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The firm had revenue of $6.06 billion during the quarter, compared to analyst estimates of $6.04 billion. During the same period in the previous year, the firm earned $2.87 EPS. The business’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. As a group, research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on SYK. Evercore ISI reduced their price target on shares of Stryker from $410.00 to $405.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. Rothschild & Co Redburn began coverage on Stryker in a research note on Thursday, September 18th. They set a “neutral” rating and a $420.00 target price on the stock. Redburn Partners set a $420.00 price target on shares of Stryker in a research note on Thursday, September 18th. Sanford C. Bernstein reissued an “outperform” rating on shares of Stryker in a research note on Monday. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Stryker in a research note on Wednesday, October 8th. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $433.37.

About Stryker

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.