Canada Pension Plan Investment Board bought a new position in Stryker Corporation (NYSE:SYK - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 488,517 shares of the medical technology company's stock, valued at approximately $153,805,000. Canada Pension Plan Investment Board owned 0.13% of Stryker at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the business. State Street Corp raised its holdings in shares of Stryker by 2.1% during the 4th quarter. State Street Corp now owns 15,254,407 shares of the medical technology company's stock valued at $5,374,731,000 after purchasing an additional 311,507 shares in the last quarter. Geode Capital Management LLC increased its position 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 acquiring an additional 69,851 shares during the period. Wellington Management Group LLP increased its holdings in shares of Stryker by 22.6% during the 4th quarter. Wellington Management Group LLP now owns 6,493,276 shares of the medical technology company's stock worth $2,282,192,000 after purchasing an additional 1,198,665 shares during the period. Norges Bank acquired a new position in Stryker in the 4th quarter valued at approximately $1,822,272,000. Finally, Royal Bank of Canada raised its stake in shares of Stryker by 6.5% in the first quarter. Royal Bank of Canada now owns 3,273,232 shares of the medical technology company's stock valued at $1,075,552,000 after purchasing an additional 199,863 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.
Stryker Price Performance
Shares of NYSE SYK opened at $330.08 on Thursday. The stock has a market capitalization of $126.61 billion, a price-to-earnings ratio of 34.21, a PEG ratio of 2.11 and a beta of 0.76. Stryker Corporation has a fifty-two week low of $281.00 and a fifty-two week high of $396.86. The business has a 50-day moving average of $328.37 and a 200-day moving average of $331.72. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.16 and a quick ratio of 1.33.
Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The medical technology company reported $3.69 EPS for the quarter, beating the consensus estimate of $3.49 by $0.20. The company had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $6.58 billion. Stryker had a return on equity of 23.63% and a net margin of 14.43%.The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.13 EPS. 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 15.02 earnings per share for the current fiscal year.
Stryker Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders 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 1.1%. The ex-dividend date is Wednesday, September 30th. Stryker's payout ratio is presently 36.48%.
Analyst Ratings Changes
A number of research analysts have commented on the stock. Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Barclays lowered their price objective on shares of Stryker from $469.00 to $394.00 and set an "overweight" rating for the company in a research report on Monday, May 4th. Leerink Partners cut their price target 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 research note on Friday, July 31st. Finally, BMO Capital Markets began coverage on Stryker in a research report on Wednesday, July 8th. They set an "outperform" rating and a $369.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $386.28.
Check Out Our Latest Stock Analysis on SYK
Insider Activity
In other Stryker news, Director Ronda E. Stryker sold 50,000 shares of the company's 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 directly owned 2,251,375 shares in the company, valued at $765,692,637.50. This represents a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Debra King sold 826 shares of the business's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $336.30, for a total value of $277,783.80. Following the transaction, the insider directly owned 6,210 shares of the company's stock, valued at approximately $2,088,423. The trade was a 11.74% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 351,267 shares of company stock worth $118,197,701. 4.60% of the stock is currently owned by company insiders.
Stryker Profile
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Free Report)
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.
See Also
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