Jennison Associates LLC Purchases New Shares in Stryker Corporation $SYK

Key Points

• Jennison Associates purchased 323,435 Stryker shares worth approximately $101.8 million, giving it a 0.08% stake; institutional investors collectively own 77.09% of the company.
• Stryker insiders sold shares, including Director Ronda E. Stryker’s sale of 310,000 shares for about $96.8 million and VP Robert Fletcher’s sale of 4,544 shares for roughly $1.4 million.
• Stryker exceeded quarterly earnings expectations with $3.69 in EPS and $6.59 billion in revenue, up 9.4% year over year. The company also declared a quarterly dividend of $0.88, while analysts maintain a “Moderate Buy” consensus and an average price target of $386.28.

Jennison Associates LLC purchased a new position in Stryker Corporation (NYSE:SYK - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 323,435 shares of the medical technology company's stock, valued at approximately $101,830,000. Jennison Associates LLC owned 0.08% of Stryker as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SYK. Sankala Group LLC purchased a new stake in shares of Stryker in the 4th quarter worth about $26,000. Godfrey Financial Associates Inc. purchased a new position in Stryker during the 4th quarter valued at about $26,000. United Financial Planning Group LLC bought a new stake in Stryker during the third quarter worth about $27,000. Atlas Capital Advisors Inc. bought a new stake in Stryker during the fourth quarter worth about $27,000. Finally, DJE Kapital AG purchased a new stake in Stryker in the fourth quarter worth about $28,000. Institutional investors own 77.09% of the company's stock.

Insider Activity at Stryker

In other news, VP Robert S. Fletcher sold 4,544 shares of the business's stock in a transaction on Thursday, May 28th. The stock was 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 in the company, valued at $3,247,298.34. The trade was a 30.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ronda E. Stryker sold 310,000 shares of the company's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $312.23, for a total value of $96,791,300.00. Following the transaction, the director directly owned 1,924,880 shares in the company, valued at approximately $601,005,282.40. The trade was a 13.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.60% of the company's stock.

Stryker Stock Down 0.7%

NYSE:SYK opened at $338.80 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.33 and a current ratio of 2.16. The firm has a market cap of $129.95 billion, a P/E ratio of 35.11, a P/E/G ratio of 2.17 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 firm has a 50-day simple moving average of $324.61 and a two-hundred day simple moving average of $333.57.

Stryker (NYSE:SYK - Get Free Report) last issued its earnings results on Thursday, July 30th. The medical technology company reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.20. Stryker had a net margin of 14.43% and a return on equity of 23.63%. The firm had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.58 billion. During the same quarter in the prior year, the firm posted $3.13 earnings per share. The business's revenue was up 9.4% on a year-over-year basis. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. Analysts predict that Stryker Corporation will post 15.02 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be given a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.52 annualized dividend and a yield of 1.0%. Stryker's dividend payout ratio is 36.48%.

Wall Street Analyst Weigh In

SYK has been the subject of a number of analyst reports. Truist Financial raised their target price on shares of Stryker from $330.00 to $340.00 and gave the company a "hold" rating in a research note on Friday, July 31st. Royal Bank Of Canada dropped their price target on Stryker from $435.00 to $420.00 and set an "outperform" rating on the stock in a research report on Friday, July 31st. Barclays cut their price target on Stryker from $469.00 to $394.00 and set an "overweight" rating on the stock in a research note on Monday, May 4th. Needham & Company LLC lowered their price objective on Stryker from $454.00 to $418.00 and set a "buy" rating for the company in a research note on Friday, May 1st. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Stryker in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $386.28.

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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