Stryker Corporation $SYK Position Lowered by Investment House LLC

Key Points

• Investment House LLC reduced its Stryker stake by 26.7% in the third quarter, selling 10,539 shares and retaining 28,953 shares valued at approximately $7.97 million. Institutional investors collectively own 77.09% of Stryker.
• Analyst sentiment remains positive but targets have been lowered: Stryker has a consensus “Moderate Buy” rating and an average price target of $369, compared with its recent price of $307.41.
• Stryker reported quarterly earnings of $3.69 per share, beating estimates, while revenue rose 9.4% year over year to $6.59 billion. The company also declared a quarterly dividend of $0.88 per share, representing a 1.1% yield.

Investment House LLC cut its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 26.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,953 shares of the medical technology company's stock after selling 10,539 shares during the quarter. Investment House LLC's holdings in Stryker were worth $7,973,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Amundi boosted its stake in Stryker by 18.3% during the second quarter. Amundi now owns 1,246,353 shares of the medical technology company's stock worth $392,402,000 after acquiring an additional 192,447 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Stryker by 8.2% during the second quarter. The Manufacturers Life Insurance Company now owns 859,544 shares of the medical technology company's stock valued at $270,642,000 after purchasing an additional 65,333 shares in the last quarter. Veritas Asset Management LLP bought a new position in shares of Stryker during the second quarter valued at approximately $168,057,000. Bank of America Corp DE bought a new position in shares of Stryker during the second quarter valued at approximately $1,404,284,000. Finally, Rakuten Investment Management Inc. purchased a new position in shares of Stryker during the second quarter valued at approximately $18,646,000. Institutional investors own 77.09% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on SYK shares. Wolfe Research cut Stryker from an "outperform" rating to a "peer perform" rating in a research report on Thursday, August 13th. Truist Financial reduced their price objective on Stryker from $340.00 to $310.00 and set a "hold" rating for the company in a research report on Tuesday, October 6th. BTIG Research reduced their price objective on Stryker from $358.00 to $316.00 and set a "buy" rating for the company in a research report on Monday, October 12th. UBS Group began coverage on Stryker in a research note on Tuesday, July 28th. They set a "buy" rating and a $400.00 price objective for the company. Finally, Stifel Nicolaus dropped their target price on Stryker from $360.00 to $330.00 and set a "buy" rating on the stock in a report on Wednesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $369.00.

Stryker Trading Up 3.3%

NYSE:SYK opened at $307.41 on Friday. The company's 50 day moving average price is $295.86 and its 200-day moving average price is $311.96. Stryker Corporation has a 52 week low of $267.00 and a 52 week high of $389.33. The company has a quick ratio of 1.33, a current ratio of 2.16 and a debt-to-equity ratio of 0.59. The stock has a market cap of $117.91 billion, a price-to-earnings ratio of 31.86, a PEG ratio of 1.92 and a beta of 0.78.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The medical technology company reported $3.69 earnings per share for the quarter, topping analysts' consensus estimates of $3.49 by $0.20. The company had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.58 billion. Stryker had a net margin of 14.43% and a return on equity of 23.63%. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.13 EPS. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. On average, equities research analysts forecast that Stryker Corporation will post 14.93 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be paid a $0.88 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $3.52 annualized dividend and a dividend yield of 1.1%. Stryker's payout ratio is currently 36.48%.

Insider Buying and Selling at Stryker

In other Stryker news, insider Debra King sold 826 shares of the company's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total transaction of $277,783.80. Following the transaction, the insider owned 6,210 shares in the company, valued at approximately $2,088,423. This represents a 11.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dylan Crotty sold 441 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $328.61, for a total transaction of $144,917.01. Following the completion of the sale, the insider owned 6,102 shares in the company, valued at $2,005,178.22. This represents a 6.74% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 351,267 shares of company stock worth $118,197,701. Company insiders own 4.60% of the company's stock.

Stryker Company Profile

Stryker Corporation NYSE: SYK is a global medical technology company that develops and manufactures products used by healthcare providers in hospitals, surgical centers and other clinical settings. Its offerings are designed to support orthopaedic procedures, surgery, emergency care, neurovascular treatment and patient handling.

The company's product portfolio includes orthopaedic implants and instruments, products for trauma and spine procedures, surgical equipment, endoscopy systems, patient beds and stretchers, emergency medical equipment, and neurovascular devices used in the treatment of conditions such as stroke.

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