Equitable Holdings Inc. Makes New Investment in Stryker Corporation $SYK

Key Points

• Equitable Holdings acquired 17,045 Stryker shares in the second quarter, valued at approximately $5.37 million. Institutional investors collectively own 77.09% of Stryker’s stock.
• 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.
• The stock recently traded at $322.20, down 2.3%, while analysts maintain a “Moderate Buy” consensus with an average price target of $386.28. Stryker also declared a quarterly dividend of $0.88 per share.

Equitable Holdings Inc. acquired a new stake in Stryker Corporation (NYSE:SYK - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 17,045 shares of the medical technology company's stock, valued at approximately $5,366,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Gables Capital Management Inc. bought a new stake in Stryker during the 2nd quarter valued at $25,000. Kilter Group LLC purchased a new stake in Stryker during the 2nd quarter valued at $25,000. Godfrey Financial Associates Inc. bought a new stake in Stryker in the 4th quarter worth $26,000. Sankala Group LLC purchased a new position in shares of Stryker in the fourth quarter valued at about $26,000. Finally, Compass Financial Management LLC purchased a new position in shares of Stryker in the second quarter valued at about $27,000. Institutional investors own 77.09% of the company's stock.

Stryker Trading Down 2.3%

SYK opened at $322.20 on Friday. The company has a quick ratio of 1.33, a current ratio of 2.16 and a debt-to-equity ratio of 0.59. Stryker Corporation has a 52 week low of $281.00 and a 52 week high of $396.86. The stock has a market cap of $123.58 billion, a PE ratio of 33.39, a PEG ratio of 2.10 and a beta of 0.76. The business has a 50 day moving average of $328.64 and a 200-day moving average of $331.47.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The medical technology company reported $3.69 earnings per share for the quarter, topping the consensus estimate of $3.49 by $0.20. The company had revenue of $6.59 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the prior year, the firm earned $3.13 earnings per share. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. Equities research analysts predict that Stryker Corporation will post 15.02 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, September 30th. Stryker's dividend payout ratio (DPR) is presently 36.48%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SYK. Robert W. Baird set a $385.00 target price on shares of Stryker in a report on Friday, May 1st. Piper Sandler reduced their price target on Stryker from $420.00 to $390.00 and set an "overweight" rating on the stock in a report on Friday, July 31st. Evercore set a $350.00 price target on Stryker in a research report on Monday, July 6th. Deutsche Bank Aktiengesellschaft set a $315.00 price objective on Stryker in a report on Friday, May 1st. Finally, Royal Bank Of Canada cut their price objective on Stryker from $435.00 to $420.00 and set an "outperform" rating on the stock in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $386.28.

Insider Buying and Selling

In other Stryker news, insider Dylan Bram Crotty sold 441 shares of the company's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $328.61, for a total value of $144,917.01. Following the sale, the insider owned 6,102 shares in the company, valued at approximately $2,005,178.22. This represents a 6.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Debra King sold 826 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total transaction of $277,783.80. Following the transaction, the insider directly owned 6,210 shares of the company's stock, valued at $2,088,423. This represents a 11.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 351,267 shares of company stock worth $118,197,701 in the last three months. 4.60% of the stock is owned by corporate insiders.

About Stryker

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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