E. Ohman J or Asset Management AB Buys 119,605 Shares of Stryker Corporation $SYK

Key Points

• E. Ohman J or Asset Management AB increased its Stryker stake by 1,008% in the second quarter, adding 119,605 shares to hold 131,471 shares valued at approximately $41.4 million. Institutional investors collectively own 77.09% of Stryker.
• Stryker reported quarterly earnings of $3.69 per share, beating estimates of $3.49, while revenue rose 9.4% year over year to $6.59 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $386.28.
• The company declared a quarterly dividend of $0.88 per share, equivalent to an annualized $3.52 payout and a 1.0% yield. Meanwhile, director Ronda E. Stryker and VP Robert S. Fletcher reported selling shares, reducing their respective holdings.

E. Ohman J or Asset Management AB increased its stake in Stryker Corporation (NYSE:SYK - Free Report) by 1,008.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 131,471 shares of the medical technology company's stock after purchasing an additional 119,605 shares during the period. Stryker makes up 1.0% of E. Ohman J or Asset Management AB's holdings, making the stock its 21st biggest holding. E. Ohman J or Asset Management AB's holdings in Stryker were worth $41,392,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Stryker by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 33,907,291 shares of the medical technology company's stock valued at $11,917,396,000 after buying an additional 133,892 shares during the period. State Street Corp lifted 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 worth $5,374,731,000 after acquiring an additional 311,507 shares during the period. Geode Capital Management LLC boosted its position in shares of Stryker by 0.9% during the 4th 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 in the last quarter. Wellington Management Group LLP boosted its position 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 acquiring an additional 1,198,665 shares in the last quarter. Finally, Norges Bank bought a new position in Stryker in the fourth quarter valued at approximately $1,822,272,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on SYK. Wolfe Research set a $375.00 price objective on shares of Stryker in a research report on Friday, July 31st. Truist Financial raised their target price on Stryker from $330.00 to $340.00 and gave the company a "hold" rating in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft set a $315.00 price target on Stryker in a research note on Friday, May 1st. Robert W. Baird set a $385.00 price target on Stryker in a report on Friday, May 1st. Finally, Evercore set a $350.00 price objective on Stryker in a research report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Stryker presently has a consensus rating of "Moderate Buy" and an average target price of $386.28.

Stryker Stock Up 1.8%

Shares of NYSE:SYK opened at $345.05 on Tuesday. The company has a fifty day moving average of $321.03 and a 200-day moving average of $333.81. The company has a market capitalization of $132.35 billion, a PE ratio of 35.76, a price-to-earnings-growth ratio of 2.16 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.33 and a current ratio of 2.16. Stryker Corporation has a 52-week low of $281.00 and a 52-week high of $396.86.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The medical technology company reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.20. The company had revenue of $6.59 billion for 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%.Stryker's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $3.13 EPS. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. On average, equities analysts predict that Stryker Corporation will post 15.02 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Stryker's dividend payout ratio (DPR) is presently 36.48%.

Insider Activity

In other news, Director Ronda E. Stryker sold 310,000 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the director owned 1,924,880 shares of the company's stock, valued at $601,005,282.40. This represents a 13.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Robert S. Fletcher sold 4,544 shares of the firm'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 transaction of $1,394,417.28. Following the completion of the transaction, the vice president owned 10,582 shares of the company's stock, valued at approximately $3,247,298.34. This trade represents a 30.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.60% of the company's stock.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source