Legal & General Group Plc purchased a new position in shares of Stryker Corporation (NYSE:SYK - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,246,257 shares of the medical technology company's stock, valued at approximately $707,212,000. Legal & General Group Plc owned about 0.59% of Stryker at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its stake in Stryker by 15.4% in the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock valued at $1,643,000 after purchasing an additional 609 shares during the last quarter. Schnieders Capital Management LLC. acquired a new position in shares of Stryker in the 2nd quarter valued at $205,000. Marshall Wace LLP grew its position in shares of Stryker by 107.9% in the 2nd quarter. Marshall Wace LLP now owns 5,700 shares of the medical technology company's stock valued at $2,255,000 after buying an additional 77,831 shares during the last quarter. Nebula Research & Development LLC acquired a new stake in Stryker during the 2nd quarter worth $219,000. Finally, HUB Investment Partners LLC purchased a new stake in Stryker in the second quarter valued at $253,000. Institutional investors and hedge funds own 77.09% of the company's stock.
Insiders Place Their Bets
In other news, Director Ronda E. Stryker sold 300,000 shares of Stryker stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $335.90, for a total value of $100,770,000.00. Following the sale, the director owned 2,301,375 shares of the company's stock, valued at $773,031,862.50. The trade was a 11.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert S. Fletcher sold 4,544 shares of the business's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $306.87, for a total transaction of $1,394,417.28. Following the transaction, the vice president owned 10,582 shares in the company, valued at approximately $3,247,298.34. This trade represents a 30.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 355,370 shares of company stock worth $119,447,201. 4.60% of the stock is owned by insiders.
Analyst Ratings Changes
Several equities analysts have issued reports on SYK shares. BMO Capital Markets began coverage on shares of Stryker in a research note on Wednesday, July 8th. They issued an "outperform" rating and a $369.00 price objective for the company. Truist Financial upped their price target on shares of Stryker from $330.00 to $340.00 and gave the company a "hold" rating in a research report on Friday, July 31st. Needham & Company LLC decreased their price target on shares of Stryker from $454.00 to $418.00 and set a "buy" rating for the company in a research note on Friday, May 1st. Argus set a $370.00 price objective on shares of Stryker in a research report on Thursday, July 9th. Finally, Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $386.28.
Get Our Latest Research Report on SYK
Stryker Trading Down 0.5%
Shares of SYK stock opened at $327.80 on Tuesday. The business's 50 day moving average is $327.39 and its two-hundred day moving average is $332.16. Stryker Corporation has a twelve month low of $281.00 and a twelve month high of $396.86. The company has a market capitalization of $125.73 billion, a P/E ratio of 33.97, a price-to-earnings-growth ratio of 2.10 and a beta of 0.76. The company has a current ratio of 2.16, a quick ratio of 1.33 and a debt-to-equity ratio of 0.59.
Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Thursday, July 30th. The medical technology company reported $3.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.49 by $0.20. Stryker had a return on equity of 23.63% and a net margin of 14.43%.The business had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.58 billion. During the same quarter in the previous year, the company posted $3.13 earnings per share. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. Equities analysts forecast that Stryker Corporation will post 15.02 EPS for the current year.
Stryker Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, September 30th. Stryker's payout ratio is currently 36.48%.
About Stryker
(
Free Report)
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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