Entropy Technologies LP Trims Stock Holdings in Stryker Corporation $SYK

Key Points

• Entropy Technologies LP cut its Stryker stake by 53.8% in the first quarter, selling 22,600 shares and leaving it with 19,405 shares valued at about $6.38 million.
• Stryker reported mixed quarterly results, with earnings of $2.60 per share and revenue of $6.02 billion, both below analyst estimates, though revenue still rose 2.6% year over year.
• The company declared a quarterly dividend of $0.88 per share, payable July 31, while analysts currently rate the stock a “Moderate Buy” with a consensus price target of $392.52.

Entropy Technologies LP lowered its stake in Stryker Corporation (NYSE:SYK - Free Report) by 53.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,405 shares of the medical technology company's stock after selling 22,600 shares during the quarter. Entropy Technologies LP's holdings in Stryker were worth $6,376,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Norges Bank purchased a new position in Stryker during the fourth quarter valued at approximately $1,822,272,000. Auto Owners Insurance Co increased its stake in shares of Stryker by 35,047.0% in the fourth quarter. Auto Owners Insurance Co now owns 2,914,741 shares of the medical technology company's stock worth $1,024,444,000 after purchasing an additional 2,906,448 shares in the last quarter. Wellington Management Group LLP raised 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 valued at $2,282,192,000 after purchasing an additional 1,198,665 shares during the period. Corient Private Wealth LLC lifted its stake in shares of 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 valued at $887,525,000 after buying an additional 1,146,998 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Stryker by 241.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,555,638 shares of the medical technology company's stock worth $511,167,000 after buying an additional 1,100,673 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Performance

Stryker stock opened at $330.69 on Friday. The company's 50-day moving average price is $314.69 and its 200-day moving average price is $335.66. 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 cap of $126.77 billion, a PE ratio of 38.27, a price-to-earnings-growth ratio of 2.04 and a beta of 0.77. Stryker Corporation has a twelve month low of $281.00 and a twelve month high of $404.14.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The medical technology company reported $2.60 EPS for the quarter, missing analysts' consensus estimates of $2.98 by ($0.38). The business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $6.34 billion. Stryker had a net margin of 13.20% and a return on equity of 23.42%. The firm's revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.84 EPS. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. On average, equities research analysts forecast that Stryker Corporation will post 14.99 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders 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 annualized dividend and a dividend yield of 1.1%. Stryker's payout ratio is currently 40.74%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SYK. 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. Weiss Ratings downgraded Stryker from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, May 4th. Barclays reduced their price objective on shares of Stryker from $469.00 to $394.00 and set an "overweight" rating on the stock in a research report on Monday, May 4th. JPMorgan Chase & Co. dropped their target price on shares of Stryker from $445.00 to $400.00 and set an "overweight" rating for the company in a research report on Friday, May 1st. Finally, Robert W. Baird set a $385.00 price target on shares of Stryker in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $392.52.

Insider Activity at Stryker

In related news, VP Robert S. Fletcher sold 4,544 shares of the stock in a transaction dated 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 sale, the vice president directly owned 10,582 shares of the company's stock, valued at $3,247,298.34. This represents a 30.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP M Kathryn Fink sold 3,500 shares of the firm's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $283.45, for a total transaction of $992,075.00. Following the completion of the sale, the vice president directly owned 177 shares of the company's stock, valued at approximately $50,170.65. The trade was a 95.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 323,264 shares of company stock worth $100,659,489. Company insiders own 4.60% of the company's stock.

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.

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