Bank of New York Mellon Corp Sells 225,535 Shares of Stryker Corporation $SYK

Key Points

• Bank of New York Mellon cut its Stryker stake by 5.0% in the fourth quarter, selling 225,535 shares and leaving it with 4.31 million shares worth about $1.52 billion.
• Analysts remain mostly constructive on Stryker despite some target cuts, with 16 Buy ratings and 6 Hold ratings producing a consensus “Moderate Buy” and average price target of $395.48.
• Stryker reported weaker-than-expected quarterly results, posting EPS of $2.60 versus the $2.98 estimate and revenue of $6.02 billion versus $6.34 billion expected, while also announcing a quarterly dividend of $0.88 per share.

Bank of New York Mellon Corp lessened its stake in Stryker Corporation (NYSE:SYK - Free Report) by 5.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,311,819 shares of the medical technology company's stock after selling 225,535 shares during the period. Bank of New York Mellon Corp owned about 1.13% of Stryker worth $1,515,475,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Czech National Bank lifted its stake in shares of Stryker by 3.9% in the 4th quarter. Czech National Bank now owns 90,755 shares of the medical technology company's stock valued at $31,898,000 after acquiring an additional 3,366 shares during the last quarter. Davis R M Inc. raised its position in Stryker by 1.8% during the 3rd quarter. Davis R M Inc. now owns 138,732 shares of the medical technology company's stock valued at $51,285,000 after purchasing an additional 2,512 shares during the last quarter. Kepler Cheuvreux Suisse SA bought a new position in Stryker during the 3rd quarter valued at approximately $27,952,000. Daymark Wealth Partners LLC raised its position in Stryker by 436.0% during the 4th quarter. Daymark Wealth Partners LLC now owns 45,863 shares of the medical technology company's stock valued at $16,119,000 after purchasing an additional 37,307 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC raised its position in Stryker by 265.2% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 9,328 shares of the medical technology company's stock valued at $3,278,000 after purchasing an additional 6,774 shares during the last quarter. Institutional investors own 77.09% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Wall Street Zen lowered Stryker from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Leerink Partners began coverage on Stryker in a report on Monday, April 13th. They set an "outperform" rating and a $410.00 target price on the stock. Citigroup reduced their target price on Stryker from $420.00 to $385.00 and set a "buy" rating on the stock in a report on Tuesday, April 7th. Sanford C. Bernstein set a $410.00 target price on Stryker in a report on Friday, May 1st. Finally, Barclays reduced 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. Sixteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $395.48.

Insider Buying and Selling at Stryker

In other Stryker 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 directly owned 1,924,880 shares in the company, valued at approximately $601,005,282.40. This trade represents a 13.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP M Kathryn Fink sold 3,500 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $283.45, for a total value of $992,075.00. Following the sale, the vice president owned 177 shares in the company, valued at approximately $50,170.65. This represents a 95.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 323,264 shares of company stock worth $100,659,489. Insiders own 4.60% of the company's stock.

Stryker Stock Performance

Stryker stock opened at $293.36 on Wednesday. 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 company has a market capitalization of $112.46 billion, a P/E ratio of 33.95, a PEG ratio of 1.89 and a beta of 0.78. The stock's 50 day moving average is $321.00 and its 200 day moving average is $347.64. Stryker Corporation has a twelve month low of $281.00 and a twelve month high of $404.87.

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

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.2%. The ex-dividend date is Tuesday, June 30th. Stryker's dividend payout ratio (DPR) is currently 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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