5,184,716 Shares in Stryker Corporation $SYK Bought by Norges Bank

Key Points

• Norges Bank disclosed a new fourth-quarter stake in Stryker, buying 5.18 million shares valued at about $1.82 billion, giving it 1.36% ownership of the medical technology company.
• Several other institutional investors also added to or maintained large Stryker positions, and institutions overall own 77.09% of the company. At the same time, insiders were net sellers last quarter, including a large sale by director Ronda E. Stryker.
• Analysts remain generally positive with a Moderate Buy consensus and a $395.48 price target, though several firms cut targets recently. Stryker also reported Q1 earnings and revenue below expectations and announced a quarterly dividend of $0.88 per share.

Norges Bank acquired a new position in shares of Stryker Corporation (NYSE:SYK - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,184,716 shares of the medical technology company's stock, valued at approximately $1,822,272,000. Norges Bank owned 1.36% of Stryker at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Stryker by 0.4% during 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 acquiring an additional 133,892 shares during the period. Geode Capital Management LLC grew its holdings in Stryker by 0.9% in the fourth 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 purchasing an additional 69,851 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Stryker by 13.3% in the third quarter. Alliancebernstein L.P. now owns 6,338,050 shares of the medical technology company's stock valued at $2,342,987,000 after purchasing an additional 741,542 shares during the last quarter. Legal & General Group Plc grew its holdings in Stryker by 2.7% in the fourth quarter. Legal & General Group Plc now owns 2,366,107 shares of the medical technology company's stock valued at $831,616,000 after purchasing an additional 62,817 shares during the last quarter. Finally, Corient Private Wealth LLC grew its holdings in Stryker by 104.4% in the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company's stock valued at $887,525,000 after purchasing an additional 1,146,998 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 310,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $312.23, for a total transaction of $96,791,300.00. Following the sale, the director owned 1,924,880 shares of the company's stock, valued at $601,005,282.40. This trade represents a 13.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert S. Fletcher sold 4,544 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $306.87, for a total value of $1,394,417.28. Following the sale, the vice president directly owned 10,582 shares in the company, valued at approximately $3,247,298.34. The trade was a 30.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 323,264 shares of company stock valued at $100,659,489 over the last quarter. Insiders own 4.60% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on SYK. Wells Fargo & Company lowered their target price on Stryker from $456.00 to $418.00 and set an "overweight" rating on the stock in a report on Friday, May 1st. Barclays lowered their target price on Stryker from $469.00 to $394.00 and set an "overweight" rating on the stock in a report on Monday, May 4th. JPMorgan Chase & Co. lowered their target price on Stryker from $445.00 to $400.00 and set an "overweight" rating on the stock in a report on Friday, May 1st. Weiss Ratings lowered Stryker from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, May 4th. Finally, Leerink Partners began coverage on Stryker in a report on Monday, April 13th. They issued an "outperform" rating and a $410.00 target price on the stock. Sixteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Stryker presently has an average rating of "Moderate Buy" and a consensus price target of $395.48.

Stryker Stock Down 0.6%

SYK opened at $305.73 on Friday. The company has a quick ratio of 1.25, a current ratio of 2.11 and a debt-to-equity ratio of 0.62. The firm has a market cap of $117.21 billion, a P/E ratio of 35.39, a PEG ratio of 1.94 and a beta of 0.80. Stryker Corporation has a 52 week low of $281.00 and a 52 week high of $404.87. The business's fifty day simple moving average is $321.82 and its 200 day simple moving average is $348.15.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The medical technology company reported $2.60 EPS for the quarter, missing analysts' consensus estimates of $2.98 by ($0.38). The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.34 billion. Stryker had a net margin of 13.20% and a return on equity of 23.42%. The firm's revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.84 EPS. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. As a group, equities research analysts anticipate that Stryker Corporation will post 14.98 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.2%. Stryker's dividend payout ratio (DPR) is presently 40.74%.

Stryker 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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