Equitable Holdings Inc. bought a new position in Stryker Corporation (NYSE:SYK – Free Report) during the second quarter, HoldingsChannel.com reports. The fund bought 17,045 shares of the medical technology company’s stock, valued at approximately $5,366,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Centaurus Financial Inc. purchased a new position in shares of Stryker in the 2nd quarter worth about $325,000. Brasada Capital Management LP purchased a new stake in Stryker during the 2nd quarter valued at about $734,000. FSA Advisors Inc. bought a new stake in Stryker during the 2nd quarter valued at about $211,000. Coastal Bridge Advisors LLC bought a new stake in Stryker during the 2nd quarter valued at about $810,000. Finally, Jefferies Financial Group Inc. purchased a new position in Stryker in the second quarter worth about $10,236,000. 77.09% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms have recently commented on SYK. Evercore set a $350.00 price target on shares of Stryker in a report on Monday, July 6th. Royal Bank Of Canada decreased their price objective on shares of Stryker from $435.00 to $420.00 and set an “outperform” rating for the company in a report on Friday, July 31st. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $361.00 price objective on shares of Stryker in a research report on Friday, May 1st. Robert W. Baird set a $385.00 target price on Stryker in a research note on Friday, May 1st. Finally, Needham & Company LLC reduced their target price on Stryker from $454.00 to $418.00 and set a “buy” rating for the company in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $386.28.
Insiders Place Their Bets
In other Stryker news, insider Debra King sold 826 shares of the business’s stock in a transaction dated 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 directly owned 6,210 shares in the company, valued at $2,088,423. The trade was a 11.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Dylan Bram Crotty sold 441 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $328.61, for a total transaction of $144,917.01. Following the sale, the insider directly owned 6,102 shares of the company’s stock, valued at $2,005,178.22. The trade was a 6.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 351,267 shares of company stock valued at $118,197,701. Insiders own 4.60% of the company’s stock.
Stryker Trading Down 2.3%
NYSE:SYK opened at $322.20 on Friday. The company has a market cap of $123.58 billion, a PE ratio of 33.39, a price-to-earnings-growth ratio of 2.10 and a beta of 0.76. The company has a current ratio of 2.16, a quick ratio of 1.33 and a debt-to-equity ratio of 0.59. The company has a 50 day simple moving average of $328.64 and a two-hundred day simple moving average of $331.47. Stryker Corporation has a 12 month low of $281.00 and a 12 month high of $396.86.
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 for the quarter, beating the consensus estimate of $3.49 by $0.20. The firm had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.58 billion. Stryker had a return on equity of 23.63% and a net margin of 14.43%.The company’s revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.13 EPS. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. Research analysts forecast that Stryker Corporation will post 15.02 earnings per share for the current year.
Stryker Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 36.48%.
Stryker Company Profile
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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