Stryker Corporation $SYK Position Cut by K.J. Harrison & Partners Inc

Key Points

• K.J. Harrison & Partners cut its Stryker stake by 86.5% in the first quarter, leaving it with 1,815 shares valued at about $596,000.
• Stryker reported Q1 earnings and revenue below analyst expectations, posting EPS of $2.60 versus the $2.98 estimate and revenue of $6.02 billion versus $6.34 billion expected.
• The company announced a quarterly dividend of $0.88 per share, payable July 31, while analysts currently rate the stock a consensus Moderate Buy with a $395.33 price target.

K.J. Harrison & Partners Inc lowered its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 86.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,815 shares of the medical technology company's stock after selling 11,670 shares during the period. K.J. Harrison & Partners Inc's holdings in Stryker were worth $596,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of SYK. Vanguard Group Inc. boosted its stake in Stryker by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 33,907,291 shares of the medical technology company's stock valued at $11,917,396,000 after purchasing an additional 133,892 shares during the period. State Street Corp increased its stake in shares of Stryker by 2.1% in the fourth quarter. State Street Corp now owns 15,254,407 shares of the medical technology company's stock valued at $5,374,731,000 after purchasing an additional 311,507 shares during the period. Geode Capital Management LLC increased its stake in shares of Stryker by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 7,535,572 shares of the medical technology company's stock valued at $2,636,238,000 after purchasing an additional 69,851 shares during the period. Wellington Management Group LLP raised its holdings in shares of Stryker by 22.6% during the fourth quarter. Wellington Management Group LLP now owns 6,493,276 shares of the medical technology company's stock valued at $2,282,192,000 after buying an additional 1,198,665 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Stryker by 13.3% during 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 buying an additional 741,542 shares during the period. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Trading Down 0.0%

Shares of Stryker stock opened at $326.41 on Monday. The business has a fifty day simple moving average of $309.80 and a 200-day simple moving average of $338.75. Stryker Corporation has a fifty-two week low of $281.00 and a fifty-two week high of $404.87. The firm has a market cap of $125.13 billion, a price-to-earnings ratio of 37.78, a price-to-earnings-growth ratio of 2.09 and a beta of 0.77. The company has a quick ratio of 1.25, a current ratio of 2.11 and a debt-to-equity ratio of 0.62.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results 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). 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 analyst estimates of $6.34 billion. During the same period in the previous year, the firm earned $2.84 earnings per share. Stryker's revenue was up 2.6% on a year-over-year basis. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. On average, equities analysts forecast that Stryker Corporation will post 14.98 EPS for the current fiscal year.

Stryker Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SYK shares. Sanford C. Bernstein set a $410.00 price objective on Stryker in a report on Friday, May 1st. Deutsche Bank Aktiengesellschaft set a $315.00 price target on Stryker in a research report on Friday, May 1st. UBS Group decreased their price target on Stryker from $400.00 to $380.00 and set a "neutral" rating for the company in a research note on Tuesday, March 17th. Needham & Company LLC lowered their price target on Stryker from $454.00 to $418.00 and set a "buy" rating on the stock in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. cut 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. Sixteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Stryker currently has a consensus rating of "Moderate Buy" and a consensus price target of $395.33.

Insider Buying and Selling

In related news, VP M Kathryn Fink sold 3,500 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the vice president directly owned 177 shares in the company, valued at approximately $50,170.65. This trade represents a 95.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ronda E. Stryker sold 310,000 shares of Stryker stock in a transaction that occurred 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 completion of the transaction, the director owned 1,924,880 shares in the company, valued at approximately $601,005,282.40. This trade represents a 13.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 323,264 shares of company stock worth $100,659,489 in the last ninety days. 4.60% of the stock is currently owned by corporate insiders.

Stryker Company 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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