Sit Investment Associates Inc. Buys 11,749 Shares of Stryker Corporation $SYK

Key Points

• Sit Investment Associates increased its Stryker stake by 41.4% in the fourth quarter, buying 11,749 additional shares and bringing its total holding to 40,152 shares valued at about $14.1 million.
• Stryker reported mixed quarterly results, with EPS of $2.60 falling short of estimates and revenue of $6.02 billion also missing expectations, though sales still rose 2.6% year over year.
• The company declared a quarterly dividend of $0.88 per share and noted that analysts remain generally positive, with a Moderate Buy consensus and an average price target of $395.33.

Sit Investment Associates Inc. raised its stake in Stryker Corporation (NYSE:SYK - Free Report) by 41.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 40,152 shares of the medical technology company's stock after buying an additional 11,749 shares during the quarter. Sit Investment Associates Inc.'s holdings in Stryker were worth $14,112,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SYK. Norges Bank bought a new position in Stryker in the fourth quarter valued at approximately $1,822,272,000. Corient Private Wealth LLC lifted its stake in Stryker by 104.4% in the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company's stock valued at $887,525,000 after buying an additional 1,146,998 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Stryker by 13.3% in the third quarter. Alliancebernstein L.P. now owns 6,338,050 shares of the medical technology company's stock worth $2,342,987,000 after purchasing an additional 741,542 shares in the last quarter. Strive Asset Management LLC acquired a new position in Stryker during the third quarter worth $227,389,000. Finally, Credit Agricole S A acquired a new position in Stryker during the third quarter worth $194,045,000. Institutional investors own 77.09% of the company's stock.

Stryker Stock Performance

Shares of SYK opened at $305.82 on Friday. 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 firm has a fifty day simple moving average of $316.75 and a 200 day simple moving average of $344.20. Stryker Corporation has a 12 month low of $281.00 and a 12 month high of $404.87. The stock has a market capitalization of $117.24 billion, a price-to-earnings ratio of 35.40, a PEG ratio of 1.95 and a beta of 0.78.

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

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, June 30th. Stryker's dividend payout ratio is 40.74%.

Insiders Place Their Bets

In other Stryker news, VP M Kathryn Fink sold 3,500 shares of the company's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $283.45, for a total transaction of $992,075.00. Following the sale, the vice president directly owned 177 shares of the company's stock, valued at approximately $50,170.65. This represents a 95.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 310,000 shares of the company's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $312.23, for a total transaction of $96,791,300.00. Following the sale, the director directly owned 1,924,880 shares in the company, valued at $601,005,282.40. This trade represents a 13.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 323,264 shares of company stock valued at $100,659,489. 4.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently commented on SYK. Wall Street Zen cut shares of Stryker from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Citigroup reduced 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. The Goldman Sachs Group restated a "neutral" rating and set a $361.00 target price on shares of Stryker in a report on Friday, May 1st. Weiss Ratings cut shares of Stryker from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, May 4th. Finally, Truist Financial restated a "hold" rating and set a $330.00 target price (down from $380.00) on shares of Stryker in a report on Monday, May 4th. Sixteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $395.33.

About Stryker

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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