Barclays PLC Purchases 239,650 Shares of Stryker Corporation $SYK

Key Points

• Barclays PLC boosted its stake in Stryker by 25.8% in the fourth quarter, buying 239,650 additional shares and bringing its total holding to 1.17 million shares worth about $410.7 million.
• Stryker’s latest earnings came in below expectations, with Q1 revenue of $6.02 billion and EPS of $2.60 versus analyst estimates of $6.34 billion and $2.98, though revenue still rose 2.6% year over year.
• The company recently declared a quarterly dividend of $0.88 per share, payable July 31, and analysts remain broadly positive with a consensus rating of “Moderate Buy” and an average price target of $395.33.

Barclays PLC increased its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 25.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,168,656 shares of the medical technology company's stock after acquiring an additional 239,650 shares during the period. Barclays PLC owned about 0.31% of Stryker worth $410,748,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SYK. Norges Bank bought a new stake in Stryker during the 4th quarter worth $1,822,272,000. Corient Private Wealth LLC grew its position in Stryker by 104.4% during the 2nd quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company's stock worth $887,525,000 after acquiring an additional 1,146,998 shares during the last quarter. Alliancebernstein L.P. grew its position in Stryker by 13.3% during the 3rd quarter. Alliancebernstein L.P. now owns 6,338,050 shares of the medical technology company's stock worth $2,342,987,000 after acquiring an additional 741,542 shares during the last quarter. Strive Asset Management LLC bought a new stake in Stryker during the 3rd quarter worth $227,389,000. Finally, Credit Agricole S A bought a new stake in Stryker during the 3rd quarter worth $194,045,000. Institutional investors own 77.09% of the company's stock.

Insider Activity

In other news, VP M Kathryn Fink sold 5,220 shares of the company's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $283.85, for a total value of $1,481,697.00. Following the completion of the transaction, the vice president directly owned 13,137 shares of the company's stock, valued at $3,728,937.45. This represents a 28.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Robert S. Fletcher sold 4,544 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the vice president directly owned 10,582 shares of the company's stock, valued at approximately $3,247,298.34. This represents a 30.04% decrease in their ownership of the stock. 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 sold a total of 323,264 shares of company stock valued at $100,659,489 over the last three months. Corporate insiders own 4.60% of the company's stock.

Stryker Stock Performance

Shares of Stryker stock opened at $312.14 on Friday. The company has a market cap of $119.66 billion, a PE ratio of 36.13, a price-to-earnings-growth ratio of 1.97 and a beta of 0.78. Stryker Corporation has a 52 week low of $281.00 and a 52 week high of $404.87. The business has a 50 day moving average price of $316.40 and a 200-day moving average price of $343.97. The company has a quick ratio of 1.25, a current ratio of 2.11 and a debt-to-equity ratio of 0.62.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The medical technology company reported $2.60 EPS 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 revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the company earned $2.84 earnings per share. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. Equities analysts anticipate that Stryker Corporation will post 14.98 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.52 annualized dividend and a dividend yield of 1.1%. Stryker's dividend payout ratio is currently 40.74%.

Analyst Ratings Changes

A number of research firms recently commented on SYK. Jefferies Financial Group reaffirmed a "buy" rating and issued a $465.00 price objective on shares of Stryker in a research note on Wednesday, March 4th. Canaccord Genuity Group cut their price objective on Stryker from $435.00 to $400.00 and set a "buy" rating on the stock in a research note on Friday, May 1st. Citigroup cut their price objective on Stryker from $420.00 to $385.00 and set a "buy" rating on the stock in a research note on Tuesday, April 7th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $361.00 price objective on shares of Stryker in a research note on Friday, May 1st. Finally, Barclays dropped their price objective on Stryker from $469.00 to $394.00 and set an "overweight" rating on the stock in a research note on Monday, May 4th. Sixteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $395.33.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.