QRG Capital Management Inc. Decreases Holdings in Stryker Corporation $SYK

Key Points

• QRG Capital Management cut its Stryker holdings by 11.2% in the second quarter, selling 7,952 shares and retaining 63,017 shares valued at approximately $19.84 million. Institutional investors collectively own 77.09% of the company.
• 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 company issued annualized dividends of $3.52 per share, yielding about 1.3%.
• Insiders sold 351,267 Stryker shares worth approximately $118.2 million during the quarter. Despite recent price weakness, analysts maintain a “Moderate Buy” consensus with an average price target of $374.42.

QRG Capital Management Inc. reduced its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 11.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 63,017 shares of the medical technology company's stock after selling 7,952 shares during the quarter. QRG Capital Management Inc.'s holdings in Stryker were worth $19,840,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sankala Group LLC acquired a new stake in Stryker during the fourth quarter worth approximately $26,000. Godfrey Financial Associates Inc. purchased a new stake in Stryker in the fourth quarter valued at $26,000. Gables Capital Management Inc. acquired a new position in Stryker in the second quarter valued at $25,000. Kilter Group LLC acquired a new position in Stryker in the second quarter valued at $25,000. Finally, Cornerstone Financial Management LLC grew its holdings in shares of Stryker by 66.0% during the second quarter. Cornerstone Financial Management LLC now owns 78 shares of the medical technology company's stock worth $25,000 after purchasing an additional 31 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Insiders Place Their Bets

In related news, insider Debra King sold 826 shares of the firm's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total value of $277,783.80. Following the completion of the sale, the insider owned 6,210 shares in the company, valued at $2,088,423. This trade represents a 11.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Dylan Crotty sold 441 shares of the business's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $328.61, for a total transaction of $144,917.01. Following the sale, the insider directly owned 6,102 shares in the company, valued at approximately $2,005,178.22. This represents a 6.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 351,267 shares of company stock worth $118,197,701. 4.60% of the stock is owned by corporate insiders.

Stryker Trading Down 0.6%

NYSE SYK opened at $273.55 on Thursday. The company has a quick ratio of 1.33, a current ratio of 2.16 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $104.93 billion, a P/E ratio of 28.35, a P/E/G ratio of 1.74 and a beta of 0.76. Stryker Corporation has a 52-week low of $267.00 and a 52-week high of $392.55. The firm has a 50-day moving average price of $317.17 and a 200 day moving average price of $320.18.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The medical technology company reported $3.69 earnings per share for the quarter, beating analysts' consensus estimates of $3.49 by $0.20. The company had revenue of $6.59 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.13 EPS. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. Equities research analysts expect that Stryker Corporation will post 14.99 EPS for the current year.

Stryker Dividend Announcement

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 issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, September 30th. Stryker's dividend payout ratio is currently 36.48%.

Analysts Set New Price Targets

Several research firms have commented on SYK. Wolfe Research lowered Stryker from an "outperform" rating to a "peer perform" rating in a research report on Thursday, August 13th. Leerink Partners cut their target price on shares of Stryker from $410.00 to $407.00 and set an "outperform" rating on the stock in a report on Friday, June 5th. Raymond James Financial set a $370.00 price objective on shares of Stryker in a research note on Friday, July 31st. Evercore set a $350.00 target price on shares of Stryker in a report on Monday, July 6th. Finally, Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Eighteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Stryker has an average rating of "Moderate Buy" and a consensus price target of $374.42.

Stryker Company Profile

Stryker Corporation is a global medical technology company headquartered in Portage, Michigan. The company develops and manufactures products used by hospitals, physicians and other healthcare providers across a range of medical specialties.

Stryker's principal businesses include orthopaedics, medical and surgical equipment, and neurovascular products. Its offerings include joint replacement and trauma implants, spinal devices, surgical instruments, operating-room equipment, endoscopy systems, surgical navigation technologies, emergency-care products and devices used to treat neurovascular conditions such as stroke.

Founded in 1941 by Dr.

Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Corporation (NYSE:SYK - Free Report).

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.