Granite Investment Partners LLC Reduces Stock Position in Stryker Corporation $SYK

Key Points

• Granite Investment Partners trimmed its Stryker stake by 15.5% in the first quarter, selling 8,704 shares and leaving it with 47,288 shares valued at about $15.5 million.
• Insider selling at Stryker has been notable, including large sales by VP Robert S. Fletcher and Director Ronda E. Stryker; insiders sold a total of 323,264 shares worth roughly $100.7 million over the last three months.
• Stryker reported Q1 earnings below expectations with EPS of $2.60 versus estimates of $2.98 and revenue of $6.02 billion versus $6.34 billion expected, while analysts still view the stock as a Moderate Buy with an average price target of $393.91.

Granite Investment Partners LLC cut its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 15.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,288 shares of the medical technology company's stock after selling 8,704 shares during the period. Stryker accounts for 1.0% of Granite Investment Partners LLC's investment portfolio, making the stock its 23rd biggest position. Granite Investment Partners LLC's holdings in Stryker were worth $15,538,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of Stryker by 15.4% during the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock worth $1,643,000 after acquiring an additional 609 shares in the last quarter. Schnieders Capital Management LLC. purchased a new position in shares of Stryker in the second quarter valued at $205,000. Marshall Wace LLP raised its stake in shares of Stryker by 107.9% during the 2nd quarter. Marshall Wace LLP now owns 5,700 shares of the medical technology company's stock valued at $2,255,000 after purchasing an additional 77,831 shares during the period. Nebula Research & Development LLC bought a new stake in shares of Stryker during the 2nd quarter valued at $219,000. Finally, HUB Investment Partners LLC purchased a new stake in Stryker during the 2nd quarter worth about $253,000. Institutional investors own 77.09% of the company's stock.

Insider Buying and Selling at Stryker

In other Stryker news, VP Robert S. Fletcher sold 4,544 shares of the business'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 owned 10,582 shares of the company's stock, valued at $3,247,298.34. The trade was a 30.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ronda E. Stryker sold 310,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $312.23, for a total transaction of $96,791,300.00. Following the completion of the transaction, the director directly owned 1,924,880 shares in the company, valued at $601,005,282.40. The trade was a 13.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 323,264 shares of company stock worth $100,659,489 over the last three months. 4.60% of the stock is owned by insiders.

Stryker Price Performance

Shares of NYSE SYK opened at $327.17 on Thursday. The firm has a market capitalization of $125.42 billion, a P/E ratio of 37.87, a P/E/G ratio of 2.11 and a beta of 0.77. 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 stock's 50-day simple moving average is $309.71 and its two-hundred day simple moving average is $338.22. Stryker Corporation has a twelve month low of $281.00 and a twelve month high of $404.87.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The medical technology company reported $2.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.98 by ($0.38). Stryker had a net margin of 13.20% and a return on equity of 23.42%. The business had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.34 billion. During the same quarter last year, the business posted $2.84 EPS. The business's revenue was up 2.6% compared to the same quarter last year. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. As a group, equities analysts anticipate that Stryker Corporation will post 14.98 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. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.88 per share. The ex-dividend date is Tuesday, June 30th. This represents a $3.52 annualized dividend and a yield of 1.1%. Stryker's payout ratio is presently 40.74%.

Analyst Ratings Changes

SYK has been the subject of several analyst reports. BMO Capital Markets assumed coverage on Stryker in a research note on Wednesday. They issued an "outperform" rating and a $369.00 target price for the company. Deutsche Bank Aktiengesellschaft set a $315.00 price target on Stryker in a research report on Friday, May 1st. Barclays cut 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. Canaccord Genuity Group reduced their price objective on shares of Stryker from $435.00 to $400.00 and set a "buy" rating for the company in a research note on Friday, May 1st. Finally, Evercore set a $350.00 target price on shares of Stryker in a report on Monday. Seventeen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $393.91.

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.

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