Manitou Investment Management Ltd. increased its stake in Stryker Corporation (NYSE:SYK - Free Report) by 40.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,276 shares of the medical technology company's stock after purchasing an additional 33,812 shares during the period. Stryker accounts for 6.9% of Manitou Investment Management Ltd.'s portfolio, making the stock its 6th largest holding. Manitou Investment Management Ltd.'s holdings in Stryker were worth $36,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently bought and sold shares of SYK. Norges Bank acquired a new position in shares of Stryker during the fourth quarter valued at $1,822,272,000. Auto Owners Insurance Co lifted its position in Stryker by 35,047.0% during the 4th quarter. Auto Owners Insurance Co now owns 2,914,741 shares of the medical technology company's stock valued at $1,024,444,000 after purchasing an additional 2,906,448 shares during the period. Wellington Management Group LLP boosted its stake in shares of Stryker by 22.6% in the 4th 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 purchasing an additional 1,198,665 shares during the last quarter. Corient Private Wealth LLC boosted its stake in shares of Stryker by 104.4% in the 2nd quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company's stock valued at $887,525,000 after purchasing an additional 1,146,998 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Stryker by 241.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,555,638 shares of the medical technology company's stock worth $511,167,000 after buying an additional 1,100,673 shares during the period. 77.09% of the stock is currently owned by institutional investors.
Stryker Trading Down 0.0%
NYSE SYK opened at $336.91 on Friday. The firm has a market cap of $129.23 billion, a P/E ratio of 34.91, a P/E/G ratio of 2.15 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.16 and a quick ratio of 1.33. The stock's 50-day moving average is $319.45 and its 200-day moving average is $334.10. Stryker Corporation has a one year low of $281.00 and a one year high of $396.86.
Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The medical technology company reported $3.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.49 by $0.20. Stryker had a return on equity of 23.63% and a net margin of 14.43%.The business had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.58 billion. During the same period in the previous year, the firm earned $3.13 EPS. Stryker's quarterly revenue was up 9.4% compared to the same quarter last year. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. Sell-side analysts anticipate that Stryker Corporation will post 15.02 earnings per share for the current fiscal year.
Stryker Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. Stryker's dividend payout ratio is currently 36.48%.
Analyst Upgrades and Downgrades
SYK has been the topic of several analyst reports. UBS Group assumed coverage on shares of Stryker in a report on Tuesday, July 28th. They issued a "buy" rating and a $400.00 price objective on the stock. Deutsche Bank Aktiengesellschaft set a $315.00 price target on Stryker in a research note on Friday, May 1st. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $361.00 price objective on shares of Stryker in a research note on Friday, May 1st. Citizens Jmp dropped their price objective on Stryker from $440.00 to $400.00 and set a "market outperform" rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. cut their target price on Stryker from $400.00 to $350.00 and set an "overweight" rating on the stock in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $386.28.
View Our Latest Stock Analysis on SYK
Insider Buying and Selling
In other Stryker news, Director Ronda E. Stryker sold 310,000 shares of the stock in a transaction dated 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 represents a 13.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robert S. Fletcher sold 4,544 shares of Stryker stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $306.87, for a total value of $1,394,417.28. Following the completion of the sale, the vice president directly owned 10,582 shares in the company, valued at $3,247,298.34. This represents a 30.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 323,264 shares of company stock worth $100,659,489 over the last ninety days. Company insiders own 4.60% of the company's stock.
About Stryker
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Free Report)
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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