LGT Fund Management Co Ltd. Has $8.59 Million Holdings in Stryker Corporation $SYK

Key Points

• LGT Fund Management increased its Stryker stake by 170.7% in the first quarter, ending with 26,137 shares valued at about $8.59 million.
• Stryker reported weaker-than-expected quarterly results, posting EPS of $2.60 versus estimates of $2.98 and revenue of $6.02 billion versus $6.34 billion expected.
• The company also announced a quarterly dividend of $0.88 per share, payable July 31, while analysts currently rate the stock a Moderate Buy with an average price target of $392.87.

LGT Fund Management Co Ltd. increased its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 170.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,137 shares of the medical technology company's stock after acquiring an additional 16,483 shares during the period. LGT Fund Management Co Ltd.'s holdings in Stryker were worth $8,588,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Czech National Bank raised its holdings in Stryker by 3.9% during the 4th quarter. Czech National Bank now owns 90,755 shares of the medical technology company's stock worth $31,898,000 after purchasing an additional 3,366 shares during the last quarter. Daymark Wealth Partners LLC boosted its stake in shares of Stryker by 436.0% in the 4th quarter. Daymark Wealth Partners LLC now owns 45,863 shares of the medical technology company's stock valued at $16,119,000 after purchasing an additional 37,307 shares during the last quarter. Varma Mutual Pension Insurance Co grew its position in shares of Stryker by 10.5% during the 4th quarter. Varma Mutual Pension Insurance Co now owns 53,610 shares of the medical technology company's stock worth $18,842,000 after buying an additional 5,100 shares during the period. Wealthcare Advisory Partners LLC raised its stake in shares of Stryker by 265.2% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 9,328 shares of the medical technology company's stock worth $3,278,000 after buying an additional 6,774 shares during the last quarter. Finally, BlueSpruce Investments LP lifted its holdings in Stryker by 0.5% in the third quarter. BlueSpruce Investments LP now owns 880,786 shares of the medical technology company's stock valued at $325,600,000 after buying an additional 4,610 shares during the period. 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 company'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 in the company, valued at $3,247,298.34. This represents a 30.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP M Kathryn Fink sold 5,220 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $283.85, for a total transaction of $1,481,697.00. Following the sale, the vice president directly owned 13,137 shares of the company's stock, valued at $3,728,937.45. This represents a 28.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 323,264 shares of company stock worth $100,659,489. 4.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SYK has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their price objective on shares of Stryker from $445.00 to $400.00 and set an "overweight" rating on the stock in a research note on Friday, May 1st. Truist Financial reissued a "hold" rating and issued a $330.00 price target (down from $380.00) on shares of Stryker in a research note on Monday, May 4th. Barclays reduced their price target on Stryker from $469.00 to $394.00 and set an "overweight" rating on the stock in a research report on Monday, May 4th. BMO Capital Markets initiated coverage on Stryker in a report on Wednesday. They issued an "outperform" rating and a $369.00 price objective for the company. Finally, Sanford C. Bernstein set a $410.00 target price on Stryker in a research note 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 given a Hold rating to the company. According to MarketBeat, Stryker presently has an average rating of "Moderate Buy" and an average target price of $392.87.

Stryker Trading Up 0.8%

Shares of NYSE SYK traded up $2.75 during midday trading on Friday, reaching $329.86. 2,724,614 shares of the stock were exchanged, compared to its average volume of 2,471,298. The business has a 50-day simple moving average of $310.12 and a two-hundred day simple moving average of $337.97. The company has a market capitalization of $126.46 billion, a price-to-earnings ratio of 38.18, a P/E/G ratio of 2.11 and a beta of 0.77. Stryker Corporation has a 12 month low of $281.00 and a 12 month high of $404.87. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.11 and a quick ratio of 1.25.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data 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 firm 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%. Stryker's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.84 EPS. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. As a group, equities research analysts expect that Stryker Corporation will post 14.98 EPS for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Stryker's payout ratio is 40.74%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.