Stryker Corporation $SYK Shares Acquired by Wealthfront Advisers LLC

Key Points

• Wealthfront Advisers LLC boosted its stake in Stryker by 27.8% in the first quarter, owning 50,755 shares valued at about $16.7 million after buying 11,046 more shares.
• Several analysts remain constructive on Stryker despite trimming price targets, and the stock currently carries a Moderate Buy consensus with an average target price of $392.52.
• Stryker reported mixed quarterly results, missing earnings and revenue estimates, while also announcing a quarterly dividend of $0.88 per share payable July 31.

Wealthfront Advisers LLC lifted its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 27.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,755 shares of the medical technology company's stock after acquiring an additional 11,046 shares during the quarter. Wealthfront Advisers LLC's holdings in Stryker were worth $16,678,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of SYK. Godfrey Financial Associates Inc. acquired a new position in Stryker during the 4th quarter worth $26,000. Sankala Group LLC purchased a new stake in Stryker during the 4th quarter worth about $26,000. United Financial Planning Group LLC acquired a new stake in Stryker in the 3rd quarter valued at about $27,000. Atlas Capital Advisors Inc. acquired a new stake in Stryker in the 4th quarter valued at about $27,000. Finally, DJE Kapital AG purchased a new position in shares of Stryker in the 4th quarter valued at about $28,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Needham & Company LLC cut their target price on shares of Stryker from $454.00 to $418.00 and set a "buy" rating on the stock in a research note on Friday, May 1st. Citigroup decreased their price target on shares of Stryker from $420.00 to $385.00 and set a "buy" rating for the company in a research note on Tuesday, April 7th. BMO Capital Markets initiated coverage on shares of Stryker in a report on Wednesday, July 8th. They set an "outperform" rating and a $369.00 price target for the company. Deutsche Bank Aktiengesellschaft set a $315.00 price objective on shares of Stryker in a research report on Friday, May 1st. Finally, Leerink Partners reduced their price objective on shares of Stryker from $410.00 to $407.00 and set an "outperform" rating on the stock in a report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, Stryker presently has an average rating of "Moderate Buy" and a consensus target price of $392.52.

Insider Transactions at Stryker

In related news, VP Robert S. Fletcher sold 4,544 shares of the stock in a transaction on 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 transaction, the vice president directly owned 10,582 shares of the company's stock, valued at $3,247,298.34. This trade represents a 30.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ronda E. Stryker sold 310,000 shares of Stryker stock in a transaction 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 sale, the director owned 1,924,880 shares in the company, valued at $601,005,282.40. This represents a 13.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 323,264 shares of company stock worth $100,659,489. 4.60% of the stock is currently owned by insiders.

Stryker Trading Up 4.5%

SYK opened at $330.64 on Friday. Stryker Corporation has a one year low of $281.00 and a one year high of $404.87. The company has a market cap of $126.76 billion, a P/E ratio of 38.27, a PEG ratio of 2.03 and a beta of 0.77. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.25 and a current ratio of 2.11. The business's 50-day simple moving average is $312.00 and its 200-day simple moving average is $336.94.

Stryker (NYSE:SYK - Get Free Report) last issued its earnings results on Thursday, April 30th. The medical technology company reported $2.60 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.38). The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.34 billion. Stryker had a return on equity of 23.42% and a net margin of 13.20%.Stryker's revenue was up 2.6% on a year-over-year basis. During the same period last year, the business posted $2.84 EPS. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. As a group, equities research analysts expect that Stryker Corporation will post 14.98 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.52 dividend on an annualized basis and a yield of 1.1%. Stryker's dividend payout ratio (DPR) is presently 40.74%.

About Stryker

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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