Stryker Corporation $SYK Shares Acquired by Azzad Asset Management Inc. ADV

Key Points

• Azzad Asset Management boosted its stake in Stryker by 1,006.4% in the first quarter, ending with 6,406 shares worth about $2.1 million.
• Stryker’s latest quarterly results missed Wall Street expectations, with EPS of $2.60 versus the $2.98 estimate and revenue of $6.02 billion versus $6.34 billion expected.
• The company remains well covered by analysts, with a consensus rating of Moderate Buy and an average price target of $392.87; Stryker also declared a quarterly dividend of $0.88 per share.

Azzad Asset Management Inc. ADV raised its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 1,006.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,406 shares of the medical technology company's stock after purchasing an additional 5,827 shares during the period. Azzad Asset Management Inc. ADV's holdings in Stryker were worth $2,105,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Resona Asset Management Co. Ltd. raised its position in shares of Stryker by 2.4% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 105,075 shares of the medical technology company's stock worth $34,478,000 after buying an additional 2,482 shares during the period. CFS Investment Advisory Services LLC grew its position in Stryker by 4.4% during the first quarter. CFS Investment Advisory Services LLC now owns 1,163 shares of the medical technology company's stock valued at $399,000 after acquiring an additional 49 shares during the period. DSM Capital Partners LLC increased its stake in Stryker by 53.0% during the first quarter. DSM Capital Partners LLC now owns 28,927 shares of the medical technology company's stock worth $9,505,000 after acquiring an additional 10,021 shares during the last quarter. Nichols & Pratt Advisers LLP MA increased its stake in Stryker by 3.9% during the first quarter. Nichols & Pratt Advisers LLP MA now owns 53,166 shares of the medical technology company's stock worth $17,470,000 after acquiring an additional 2,020 shares during the last quarter. Finally, Lmcg Investments LLC raised its holdings in shares of Stryker by 84.2% in the 1st quarter. Lmcg Investments LLC now owns 14,644 shares of the medical technology company's stock worth $4,812,000 after purchasing an additional 6,694 shares during the period. Hedge funds and other institutional investors own 77.09% of the company's stock.

Analysts Set New Price Targets

SYK has been the subject of a number of research reports. The Goldman Sachs Group reiterated a "neutral" rating and set a $361.00 target price on shares of Stryker in a report on Friday, May 1st. Needham & Company LLC cut their price target on shares of Stryker from $454.00 to $418.00 and set a "buy" rating on the stock in a report on Friday, May 1st. Wall Street Zen cut shares of Stryker from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. UBS Group dropped their price objective on shares of Stryker from $400.00 to $380.00 and set a "neutral" rating for the company in a research report on Tuesday, March 17th. Finally, Evercore set a $350.00 target price on shares of Stryker in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $392.87.

Stryker Stock Up 0.8%

NYSE SYK opened at $329.86 on Friday. The stock has a market cap of $126.46 billion, a PE ratio of 38.18, a P/E/G ratio of 2.10 and a beta of 0.77. Stryker Corporation has a fifty-two week low of $281.00 and a fifty-two week high of $404.87. The business has a 50 day moving average price of $310.12 and a two-hundred day moving average price of $337.97. 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 posted 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). Stryker had a net margin of 13.20% and a return on equity of 23.42%. The firm had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $6.34 billion. During the same quarter in the prior year, the business earned $2.84 EPS. The company's revenue for the quarter was up 2.6% on a year-over-year basis. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. As a group, sell-side analysts predict that Stryker Corporation will post 14.98 EPS for the current fiscal year.

Stryker Dividend Announcement

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

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 310,000 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $312.23, for a total value of $96,791,300.00. Following the completion of the transaction, the director directly owned 1,924,880 shares of the company's stock, valued at $601,005,282.40. This represents a 13.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP M Kathryn Fink sold 5,220 shares of the firm's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $283.85, for a total value of $1,481,697.00. Following the sale, the vice president owned 13,137 shares of the company's stock, valued at $3,728,937.45. This represents a 28.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 323,264 shares of company stock worth $100,659,489 in the last quarter. 4.60% of the stock is 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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