Stryker Corporation $SYK Holdings Boosted by Perpetual Ltd

Key Points

• Perpetual Ltd dramatically increased its Stryker stake by 17,298.2% in the third quarter, reaching 338,569 shares worth approximately $93.2 million. Institutional investors now own 77.09% of the company.
• Analysts maintain a generally positive outlook, with one Strong Buy, 17 Buy, and six Hold ratings. Stryker has a consensus “Moderate Buy” rating and an average price target of $369, despite several recent target-price cuts.
• Stryker reported quarterly EPS of $3.69, beating estimates, while revenue rose 9.4% year over year to $6.59 billion. The company also announced a quarterly dividend of $0.88 per share, representing a 1.2% yield.

Perpetual Ltd lifted its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 17,298.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 338,569 shares of the medical technology company's stock after purchasing an additional 336,623 shares during the quarter. Stryker accounts for about 1.5% of Perpetual Ltd's holdings, making the stock its 22nd largest position. Perpetual Ltd owned about 0.09% of Stryker worth $93,239,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sankala Group LLC bought a new position in Stryker in the 4th quarter worth about $26,000. Gables Capital Management Inc. purchased a new position in Stryker during the 2nd quarter valued at about $25,000. Kilter Group LLC bought a new stake in shares of Stryker during the second quarter valued at about $25,000. Cornerstone Financial Management LLC increased its position 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 valued at $25,000 after buying an additional 31 shares during the period. Finally, Highland Investment Advisors LLC bought a new stake in shares of Stryker during the second quarter valued at about $25,000. 77.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SYK. Canaccord Genuity Group lowered their price target on shares of Stryker from $400.00 to $385.00 and set a "buy" rating on the stock in a report on Friday, September 18th. Wells Fargo & Company reduced their price objective on shares of Stryker from $418.00 to $348.00 and set an "overweight" rating for the company in a research note on Wednesday, September 9th. Evercore set a $350.00 target price on shares of Stryker in a report on Monday, July 6th. Truist Financial decreased their target price on shares of Stryker from $340.00 to $310.00 and set a "hold" rating on the stock in a report on Tuesday, October 6th. Finally, Citigroup lowered their target price on shares of Stryker from $399.00 to $360.00 and set a "buy" rating on the stock in a research note on Thursday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $369.00.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 300,000 shares of Stryker stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $335.90, for a total transaction of $100,770,000.00. Following the completion of the sale, the director owned 2,301,375 shares of the company's stock, valued at $773,031,862.50. The trade was a 11.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Debra King sold 826 shares of the company's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $336.30, for a total value of $277,783.80. Following the completion of the transaction, the insider owned 6,210 shares of the company's stock, valued at $2,088,423. The trade was a 11.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 351,267 shares of company stock valued at $118,197,701 over the last 90 days. 4.60% of the stock is owned by insiders.

Stryker Price Performance

SYK stock opened at $282.61 on Tuesday. The firm has a 50 day simple moving average of $303.25 and a two-hundred day simple moving average of $313.89. The stock has a market cap of $108.40 billion, a PE ratio of 29.29, a P/E/G ratio of 1.75 and a beta of 0.78. Stryker Corporation has a one year low of $267.00 and a one year high of $392.55. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.16 and a quick ratio of 1.33.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The medical technology company reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.20. Stryker had a net margin of 14.43% and a return on equity of 23.63%. The firm had revenue of $6.59 billion for the quarter, compared to analysts' expectations of $6.58 billion. During the same quarter last year, the company posted $3.13 EPS. The business's quarterly revenue was up 9.4% on a year-over-year basis. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. On average, analysts predict that Stryker Corporation will post 14.96 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, September 30th. Stryker's dividend payout ratio is currently 36.48%.

Stryker Company Profile

Stryker Corporation NYSE: SYK is a global medical technology company that develops and manufactures products used in hospitals, surgical centers and other healthcare settings. Founded in 1941 by Dr. Homer Stryker in Kalamazoo, Michigan, the company has grown from an orthopedic device business into a diversified provider of medical technologies.

Stryker's product portfolio includes orthopedic implants and instruments, surgical equipment, neurovascular devices, spine products, patient-handling and emergency-care equipment, operating-room systems, and digital and robotic technologies.

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