Stryker Corporation $SYK Shares Bought by Calamos Wealth Management LLC

Key Points

• Calamos Wealth Management LLC increased its stake in Stryker by 30.2% in the first quarter, buying 10,616 additional shares and bringing its total holding to 45,781 shares worth about $15.0 million.
• Stryker reported weaker-than-expected quarterly results, with EPS of $2.60 versus estimates of $2.98 and revenue of $6.02 billion versus $6.34 billion expected, even though revenue still rose 2.6% year over year.
• The company also announced a quarterly dividend of $0.88 per share payable July 31, while analysts currently maintain a consensus rating of Moderate Buy with an average price target of $392.52.

Calamos Wealth Management LLC grew its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 30.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,781 shares of the medical technology company's stock after purchasing an additional 10,616 shares during the period. Calamos Wealth Management LLC's holdings in Stryker were worth $15,043,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on SYK. Truist Financial restated a "hold" rating and set a $330.00 price objective (down from $380.00) on shares of Stryker in a report on Monday, May 4th. BTIG Research set a $371.00 target price on shares of Stryker in a research report on Monday. UBS Group cut their price target on shares of Stryker from $400.00 to $380.00 and set a "neutral" rating on the stock in a report on Tuesday, March 17th. Weiss Ratings downgraded shares of Stryker from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, May 4th. Finally, Canaccord Genuity Group decreased their price objective on shares of Stryker from $435.00 to $400.00 and set a "buy" rating for the company in a research note on Friday, May 1st. One research 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $392.52.

Stryker Price Performance

NYSE SYK opened at $332.20 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.11 and a quick ratio of 1.25. The firm has a market capitalization of $127.35 billion, a price-to-earnings ratio of 38.45, a price-to-earnings-growth ratio of 2.11 and a beta of 0.77. The company has a 50 day simple moving average of $310.47 and a 200-day simple moving average of $337.68. Stryker Corporation has a 52-week low of $281.00 and a 52-week high of $404.87.

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). The company had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $6.34 billion. Stryker had a return on equity of 23.42% and a net margin of 13.20%.The firm's quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.84 EPS. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. Equities research analysts predict that Stryker Corporation will post 14.98 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given 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%.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 310,000 shares of the firm's 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 sale, the director directly owned 1,924,880 shares of the company's stock, valued at $601,005,282.40. This trade represents a 13.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 sale, the vice president owned 10,582 shares of the company's stock, valued at approximately $3,247,298.34. This represents a 30.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 323,264 shares of company stock valued at $100,659,489. Insiders own 4.60% of the company's stock.

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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