Royal Bank of Canada Has $1.08 Billion Holdings in Stryker Corporation $SYK

Key Points

• Royal Bank of Canada reduced its Stryker stake by 8% in the fourth quarter, but still held 3.07 million shares worth about $1.08 billion. Institutional investors overall still own a large majority of the stock at 77.09%.
• Wall Street remains broadly positive on Stryker, with 16 Buy ratings and six Hold ratings, giving it a consensus Moderate Buy and an average target price of $395.33.
• Stryker recently reported weaker-than-expected quarterly results, missing EPS and revenue estimates, while also announcing a quarterly dividend of $0.88 per share and noting recent insider share sales.

Royal Bank of Canada cut its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 8.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,073,369 shares of the medical technology company's stock after selling 268,486 shares during the period. Royal Bank of Canada owned about 0.80% of Stryker worth $1,080,197,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Godfrey Financial Associates Inc. acquired a new position in shares of Stryker during the fourth quarter worth $26,000. United Financial Planning Group LLC acquired a new position in shares of Stryker during the third quarter worth $27,000. Atlas Capital Advisors Inc. acquired a new position in shares of Stryker during the fourth quarter worth $27,000. DJE Kapital AG acquired a new position in shares of Stryker during the fourth quarter worth $28,000. Finally, CGC Financial Services LLC acquired a new position in shares of Stryker during the fourth quarter worth $29,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Leerink Partners reduced their price objective on shares of Stryker from $410.00 to $407.00 and set an "outperform" rating on the stock in a research note on Friday, June 5th. Sanford C. Bernstein set a $410.00 price objective on shares of Stryker in a research note on Friday, May 1st. William Blair reissued an "outperform" rating on shares of Stryker in a research note on Thursday, March 5th. 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. Finally, Weiss Ratings cut shares of Stryker from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, May 4th. Sixteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $395.33.

Stryker Stock Performance

Shares of SYK opened at $310.71 on Wednesday. The company has a current ratio of 2.11, a quick ratio of 1.25 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $119.11 billion, a P/E ratio of 35.96, a price-to-earnings-growth ratio of 1.97 and a beta of 0.78. The firm's fifty day simple moving average is $315.51 and its two-hundred day simple moving average is $342.88. Stryker Corporation has a 12 month low of $281.00 and a 12 month high of $404.87.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The medical technology company reported $2.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.98 by ($0.38). The company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.34 billion. Stryker had a return on equity of 23.42% and a net margin of 13.20%.Stryker's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the company earned $2.84 EPS. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. As a group, analysts predict that Stryker Corporation will post 14.98 EPS for the current year.

Stryker Dividend Announcement

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

Insider Transactions at Stryker

In other news, VP Robert S. Fletcher sold 4,544 shares of the 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 transaction, the vice president owned 10,582 shares of the company's stock, valued at $3,247,298.34. This represents a 30.04% decrease in their position. 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, VP M Kathryn Fink sold 5,220 shares of the stock in a transaction dated 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 transaction, the vice president directly owned 13,137 shares in the company, valued at $3,728,937.45. This trade represents a 28.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 323,264 shares of company stock valued at $100,659,489 in the last 90 days. 4.60% of the stock is currently owned by corporate 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.

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.