Choreo LLC cut its stake in shares of Stryker Corporation (NYSE:SYK – Free Report) by 13.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 10,956 shares of the medical technology company’s stock after selling 1,645 shares during the quarter. Choreo LLC’s holdings in Stryker were worth $3,449,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of SYK. Vanguard Group Inc. increased its position in Stryker by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 33,907,291 shares of the medical technology company’s stock worth $11,917,396,000 after buying an additional 133,892 shares in the last quarter. State Street Corp lifted its position in shares of Stryker by 2.1% during the 4th quarter. State Street Corp now owns 15,254,407 shares of the medical technology company’s stock valued at $5,374,731,000 after buying an additional 311,507 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Stryker by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 7,535,572 shares of the medical technology company’s stock valued at $2,636,238,000 after buying an additional 69,851 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Stryker by 22.6% during the 4th quarter. Wellington Management Group LLP now owns 6,493,276 shares of the medical technology company’s stock valued at $2,282,192,000 after acquiring an additional 1,198,665 shares during the period. Finally, Norges Bank bought a new position in shares of Stryker during the 4th quarter valued at approximately $1,822,272,000. Institutional investors own 77.09% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have commented on SYK. BTIG Research decreased their target price on shares of Stryker from $371.00 to $358.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. BMO Capital Markets initiated coverage on shares of Stryker in a research report on Wednesday, July 8th. They issued an “outperform” rating and a $369.00 price target for the company. Royal Bank Of Canada reduced their price objective on shares of Stryker from $435.00 to $420.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Truist Financial raised their price objective on shares of Stryker from $330.00 to $340.00 and gave the company a “hold” rating in a research report on Friday, July 31st. Finally, Citigroup restated a “buy” rating on shares of Stryker in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and an average target price of $386.28.
Stryker Stock Down 0.7%
Shares of SYK opened at $338.80 on Friday. The business’s 50 day moving average is $324.61 and its 200 day moving average is $333.57. The company has a market capitalization of $129.95 billion, a PE ratio of 35.11, a price-to-earnings-growth ratio of 2.17 and a beta of 0.76. Stryker Corporation has a 12-month low of $281.00 and a 12-month high of $396.86. The company has a current ratio of 2.16, a quick ratio of 1.33 and a debt-to-equity ratio of 0.59.
Stryker (NYSE:SYK – Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The medical technology company reported $3.69 EPS for the quarter, topping analysts’ consensus estimates of $3.49 by $0.20. Stryker had a return on equity of 23.63% and a net margin of 14.43%.The company had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.58 billion. During the same period in the previous year, the firm earned $3.13 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. Research analysts expect that Stryker Corporation will post 15.02 earnings per share for the current fiscal year.
Stryker Dividend Announcement
The business 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. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Stryker’s payout ratio is 36.48%.
Insider Buying and Selling at Stryker
In related news, VP Robert S. Fletcher sold 4,544 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $306.87, for a total transaction of $1,394,417.28. Following the completion of the transaction, the vice president directly owned 10,582 shares of the company’s stock, valued at approximately $3,247,298.34. This trade represents a 30.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ronda E. Stryker sold 310,000 shares of Stryker stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $312.23, for a total transaction of $96,791,300.00. Following the completion of the sale, the director owned 1,924,880 shares in the company, valued at approximately $601,005,282.40. This represents a 13.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.60% of the stock is currently owned by insiders.
About Stryker
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.
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