Stryker Corporation $SYK Shares Newly Acquired by Pinnacle Associates Ltd.

Key Points

• Pinnacle Associates acquired 12,712 Stryker shares worth approximately $3.5 million in the third quarter, while institutional investors collectively own 77.09% of the company.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $369, despite mixed recent rating changes.
• Stryker reported quarterly earnings of $3.69 per share, exceeding expectations, while revenue rose 9.4% year over year to $6.59 billion. The company also declared a quarterly dividend of $0.88 per share, yielding 1.1% annually.

Pinnacle Associates Ltd. acquired a new stake in Stryker Corporation (NYSE:SYK - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,712 shares of the medical technology company's stock, valued at approximately $3,501,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Gables Capital Management Inc. acquired a new position in shares of Stryker in the 2nd quarter worth approximately $25,000. Kilter Group LLC acquired a new stake in shares of Stryker during the 2nd quarter valued at approximately $25,000. Cornerstone Financial Management LLC raised its position in shares of Stryker by 66.0% during the 2nd quarter. Cornerstone Financial Management LLC now owns 78 shares of the medical technology company's stock valued at $25,000 after acquiring an additional 31 shares in the last quarter. Highland Investment Advisors LLC acquired a new stake in shares of Stryker during the 2nd quarter valued at approximately $25,000. Finally, Compass Financial Management LLC acquired a new stake in shares of Stryker during the 2nd quarter valued at approximately $27,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on SYK. Wells Fargo & Company decreased their price objective on shares of Stryker from $418.00 to $348.00 and set an "overweight" rating for the company in a report on Wednesday, September 9th. UBS Group assumed coverage on shares of Stryker in a report on Tuesday, July 28th. They set a "buy" rating and a $400.00 target price on the stock. Wolfe Research downgraded shares of Stryker from an "outperform" rating to a "peer perform" rating in a research report on Thursday, August 13th. Barclays raised shares of Stryker to a "strong-buy" rating in a report on Wednesday, October 7th. Finally, Wall Street Zen lowered shares of Stryker from a "buy" rating to a "hold" rating in a report on Saturday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $369.00.

Stryker Stock Up 3.3%

Stryker stock opened at $307.41 on Friday. The company has a 50-day simple moving average of $295.86 and a 200-day simple moving average of $311.96. The firm has a market capitalization of $117.91 billion, a P/E ratio of 31.86, a P/E/G ratio of 1.92 and a beta of 0.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.33 and a current ratio of 2.16. Stryker Corporation has a one year low of $267.00 and a one year high of $389.33.

Stryker (NYSE:SYK - Get Free Report) last released 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 business had revenue of $6.59 billion for the quarter, compared to analysts' expectations of $6.58 billion. Stryker had a net margin of 14.43% and a return on equity of 23.63%. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.13 EPS. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. As a group, equities analysts expect that Stryker Corporation will post 14.93 earnings per share for the current year.

Stryker Announces Dividend

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

Insider Buying and Selling

In related news, Director Ronda Stryker sold 300,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $335.90, for a total value of $100,770,000.00. Following the sale, the director directly owned 2,301,375 shares in the company, valued at $773,031,862.50. This trade represents a 11.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dylan Crotty sold 441 shares of Stryker stock in a transaction on Friday, August 21st. The shares were sold at an average price of $328.61, for a total value of $144,917.01. Following the sale, the insider directly owned 6,102 shares in the company, valued at $2,005,178.22. The trade was a 6.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 351,267 shares of company stock valued at $118,197,701 in the last three months. 4.60% of the stock is currently owned by corporate insiders.

About Stryker

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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