Bank of New York Mellon Corp Has $1.30 Billion Holdings in Stryker Corporation $SYK

Key Points

• Bank of New York Mellon trimmed its Stryker stake by 8.3% in the first quarter, but still held about $1.30 billion in the medical device maker, representing 1.03% of the company.
• Wall Street remains cautiously positive on Stryker: analysts have an average rating of “Moderate Buy” with an average price target of $392.52, despite some recent target cuts and mixed ratings.
• Stryker posted weaker-than-expected quarterly results, missing EPS and revenue estimates, while insiders also sold shares recently; the company also declared a $0.88 quarterly dividend payable July 31.

Bank of New York Mellon Corp lessened its stake in Stryker Corporation (NYSE:SYK - Free Report) by 8.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,952,401 shares of the medical technology company's stock after selling 359,418 shares during the period. Bank of New York Mellon Corp owned 1.03% of Stryker worth $1,298,720,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SYK. Sankala Group LLC bought a new stake in Stryker in the fourth quarter valued at about $26,000. Godfrey Financial Associates Inc. acquired a new stake in shares of Stryker in the 4th quarter valued at approximately $26,000. United Financial Planning Group LLC bought a new position in Stryker during the 3rd quarter worth approximately $27,000. Atlas Capital Advisors Inc. bought a new position in Stryker during the 4th quarter worth approximately $27,000. Finally, DJE Kapital AG acquired a new position in Stryker during the fourth quarter valued at approximately $28,000. Institutional investors own 77.09% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. BTIG Research set a $371.00 target price on shares of Stryker in a report on Monday. Canaccord Genuity Group reduced their target price on Stryker from $435.00 to $400.00 and set a "buy" rating on the stock in a report on Friday, May 1st. The Goldman Sachs Group restated a "neutral" rating and issued a $361.00 price target on shares of Stryker in a report on Friday, May 1st. BMO Capital Markets began coverage on Stryker in a research report on Wednesday, July 8th. They set an "outperform" rating and a $369.00 price target on the stock. Finally, Robert W. Baird set a $385.00 price objective on Stryker in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $392.52.

Stryker Price Performance

Shares of NYSE SYK opened at $316.46 on Thursday. The company has a fifty day moving average price of $311.28 and a 200 day moving average price of $337.10. The firm has a market cap of $121.32 billion, a PE ratio of 36.63, a PEG ratio of 1.99 and a beta of 0.77. The company has a current ratio of 2.11, a quick ratio of 1.25 and a debt-to-equity ratio of 0.62. Stryker Corporation has a 1-year low of $281.00 and a 1-year high of $404.87.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The medical technology company reported $2.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.38). The firm had revenue of $6.02 billion during 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 business's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.84 EPS. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. Research analysts predict that Stryker Corporation will post 14.98 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be given 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 yield of 1.1%. Stryker's dividend payout ratio is 40.74%.

Insider Buying and Selling

In other news, VP Robert S. Fletcher sold 4,544 shares of the firm's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $306.87, for a total value of $1,394,417.28. Following the completion of the transaction, the vice president owned 10,582 shares in the company, valued at $3,247,298.34. This trade represents a 30.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ronda E. Stryker sold 310,000 shares of the company's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $312.23, for a total value of $96,791,300.00. Following the sale, the director owned 1,924,880 shares in the company, valued at $601,005,282.40. The trade was a 13.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 323,264 shares of company stock worth $100,659,489. 4.60% of the stock is 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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