QRG Capital Management Inc. Increases Stock Position in Stryker Corporation $SYK

Key Points

• QRG Capital Management increased its Stryker stake by 17.2% in Q1, adding 10,421 shares to bring its total holdings to 70,969 shares worth about $23.3 million.
• Wall Street sentiment remains constructive, with 16 Buy ratings and 6 Hold ratings on the stock; the consensus view is a Moderate Buy with a $395.33 price target, though several firms recently trimmed their targets.
• Stryker’s latest quarter missed expectations, reporting EPS of $2.60 versus $2.98 expected and revenue of $6.02 billion versus $6.34 billion expected, even as revenue still grew 2.6% year over year.

QRG Capital Management Inc. boosted its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 17.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,969 shares of the medical technology company's stock after acquiring an additional 10,421 shares during the period. QRG Capital Management Inc.'s holdings in Stryker were worth $23,320,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SYK. Godfrey Financial Associates Inc. bought a new position in Stryker during the 4th quarter valued at approximately $26,000. Sankala Group LLC purchased a new stake in shares of Stryker during the fourth quarter valued at approximately $26,000. United Financial Planning Group LLC bought a new position in Stryker in the 3rd quarter valued at approximately $27,000. Atlas Capital Advisors Inc. bought a new position in shares of Stryker during the fourth quarter valued at $27,000. Finally, DJE Kapital AG bought a new stake in Stryker in the 4th quarter worth about $28,000. Institutional investors own 77.09% of the company's stock.

Wall Street Analyst Weigh In

SYK has been the subject of several research reports. The Goldman Sachs Group reissued a "neutral" rating and set a $361.00 price objective on shares of Stryker in a report on Friday, May 1st. Needham & Company LLC decreased their price objective on Stryker from $454.00 to $418.00 and set a "buy" rating on the stock in a research note on Friday, May 1st. Barclays dropped their price target 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. Citigroup dropped their target price on shares of Stryker from $420.00 to $385.00 and set a "buy" rating for the company in a report on Tuesday, April 7th. Finally, Wall Street Zen lowered Stryker from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Sixteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $395.33.

Stryker Stock Performance

NYSE SYK opened at $326.41 on Friday. The stock has a market capitalization of $125.13 billion, a PE ratio of 37.78, a P/E/G ratio of 2.09 and a beta of 0.77. Stryker Corporation has a 1-year low of $281.00 and a 1-year high of $404.87. The business has a 50 day simple moving average of $309.80 and a two-hundred day simple moving average of $338.87. 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 posted its earnings results on Thursday, April 30th. The medical technology company reported $2.60 earnings per share for the quarter, missing analysts' consensus estimates of $2.98 by ($0.38). The business had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $6.34 billion. Stryker had a net margin of 13.20% and a return on equity of 23.42%. The company's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the business posted $2.84 earnings per share. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. On average, research analysts predict that Stryker Corporation will post 14.98 EPS for the current fiscal year.

Stryker Dividend Announcement

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

Insider Buying and Selling

In related news, VP Robert S. Fletcher sold 4,544 shares of Stryker stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $306.87, for a total transaction of $1,394,417.28. Following the completion of the transaction, the vice president directly owned 10,582 shares of the company's stock, valued at approximately $3,247,298.34. The trade was a 30.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP M Kathryn Fink sold 3,500 shares of the company's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $283.45, for a total transaction of $992,075.00. Following the transaction, the vice president owned 177 shares in the company, valued at $50,170.65. The trade was a 95.19% decrease in their ownership of the stock. 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 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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