Saudi Central Bank increased its stake in shares of Stryker Corporation (NYSE:SYK – Free Report) by 89.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 24,128 shares of the medical technology company’s stock after acquiring an additional 11,424 shares during the quarter. Saudi Central Bank’s holdings in Stryker were worth $7,596,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the stock. State Street Corp grew its stake in shares of Stryker by 2.1% in the 4th quarter. State Street Corp now owns 15,254,407 shares of the medical technology company’s stock worth $5,374,731,000 after acquiring an additional 311,507 shares in the last quarter. Wellington Management Group LLP lifted its position 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 valued at $2,571,357,000 after purchasing an additional 45,478 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Stryker by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 7,535,572 shares of the medical technology company’s stock worth $2,636,238,000 after purchasing an additional 69,851 shares during the last quarter. Norges Bank purchased a new position in Stryker during the fourth quarter worth about $1,822,272,000. Finally, Bank of America Corp DE bought a new stake in Stryker in the 2nd quarter worth about $1,404,284,000. 77.09% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts have commented on SYK shares. Wolfe Research lowered shares of Stryker from an “outperform” rating to a “peer perform” rating in a research note on Thursday, August 13th. Leerink Partners cut their target price on Stryker from $410.00 to $407.00 and set an “outperform” rating on the stock in a research note on Friday, June 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Stryker in a report on Friday, July 31st. BMO Capital Markets began coverage on Stryker in a report on Wednesday, July 8th. They set an “outperform” rating and a $369.00 price target on the stock. Finally, Truist Financial boosted their price objective on Stryker from $330.00 to $340.00 and gave the stock a “hold” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $386.28.
Stryker Price Performance
SYK stock opened at $302.92 on Friday. The firm has a 50 day moving average of $328.84 and a 200-day moving average of $329.73. 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 Corporation has a 12 month low of $281.00 and a 12 month high of $396.37. The firm has a market capitalization of $116.19 billion, a P/E ratio of 31.39, a price-to-earnings-growth ratio of 1.90 and a beta of 0.76.
Stryker (NYSE:SYK – Get Free Report) last posted its earnings results on Thursday, July 30th. The medical technology company reported $3.69 earnings per share for the quarter, topping 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 business had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.58 billion. During the same quarter in the prior year, the firm posted $3.13 EPS. 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. As a group, sell-side analysts predict that Stryker Corporation will post 15.03 earnings per share for the current fiscal year.
Stryker Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, September 30th. Stryker’s dividend payout ratio (DPR) is 36.48%.
Insider Buying and Selling
In related news, Director Ronda Stryker sold 50,000 shares of Stryker stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $340.10, for a total transaction of $17,005,000.00. Following the completion of the sale, the director owned 2,251,375 shares of the company’s stock, valued at approximately $765,692,637.50. This trade represents a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dylan Crotty sold 441 shares of the business’s 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 transaction, the insider owned 6,102 shares of the company’s stock, valued at approximately $2,005,178.22. The trade was a 6.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 351,267 shares of company stock worth $118,197,701. Corporate insiders own 4.60% of the company’s stock.
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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