Stryker Corporation $SYK Shares Purchased by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System dramatically increased its Stryker stake by 30,523.4% in the second quarter, owning 163.4 million shares valued at approximately $51.4 billion, or 42.6% of the company.
• Analysts maintain a “Moderate Buy” consensus rating for Stryker, with an average price target of $386.28, despite mixed target-price revisions from individual firms.
• Stryker exceeded quarterly earnings expectations with $3.69 in EPS and $6.59 billion in revenue, while reporting 9.4% year-over-year revenue growth and declaring a quarterly dividend of $0.88 per share.

California State Teachers Retirement System grew its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 30,523.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 163,395,348 shares of the medical technology company's stock after acquiring an additional 162,861,784 shares during the quarter. California State Teachers Retirement System owned about 42.60% of Stryker worth $51,443,391,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SYK. Rakuten Investment Management Inc. purchased a new position in shares of Stryker in the 2nd quarter worth about $18,646,000. Royal Bank of Canada grew its holdings in shares of Stryker by 6.5% during the 1st quarter. Royal Bank of Canada now owns 3,273,232 shares of the medical technology company's stock worth $1,075,552,000 after purchasing an additional 199,863 shares during the period. Crossmark Global Holdings Inc. increased its position in Stryker by 31.1% during the 4th quarter. Crossmark Global Holdings Inc. now owns 26,820 shares of the medical technology company's stock worth $9,426,000 after purchasing an additional 6,367 shares in the last quarter. Rathbones Group PLC increased its position in Stryker by 647.9% during the 4th quarter. Rathbones Group PLC now owns 219,265 shares of the medical technology company's stock worth $77,065,000 after purchasing an additional 189,948 shares in the last quarter. Finally, Trust Point Inc. raised its holdings in Stryker by 681.9% in the second quarter. Trust Point Inc. now owns 13,480 shares of the medical technology company's stock valued at $4,244,000 after buying an additional 11,756 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SYK has been the topic of a number of recent research reports. Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Royal Bank Of Canada dropped their price objective on shares of Stryker from $435.00 to $420.00 and set an "outperform" rating for the company in a research report on Friday, July 31st. Truist Financial lifted their target price on shares of Stryker from $330.00 to $340.00 and gave the company a "hold" rating in a report on Friday, July 31st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Stryker in a research report on Friday, July 31st. Finally, Evercore set a $350.00 price target on Stryker in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Stryker has an average rating of "Moderate Buy" and a consensus price target of $386.28.

Stryker Price Performance

Shares of SYK stock opened at $302.92 on Monday. The firm has a fifty day simple moving average of $328.84 and a 200-day simple moving average of $329.48. The company has a market capitalization of $116.19 billion, a PE ratio of 31.39, a price-to-earnings-growth ratio of 1.90 and a beta of 0.76. Stryker Corporation has a twelve month low of $281.00 and a twelve month high of $396.37. The company has a current ratio of 2.16, a quick ratio of 1.33 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The medical technology company reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.20. Stryker had a net margin of 14.43% and a return on equity of 23.63%. The firm had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.58 billion. During the same quarter in the previous year, the firm posted $3.13 EPS. The firm's quarterly revenue was up 9.4% on a year-over-year basis. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. Equities research analysts anticipate that Stryker Corporation will post 15.03 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced 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. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, September 30th. Stryker's payout ratio is presently 36.48%.

Insider Transactions at Stryker

In related news, insider Dylan Crotty sold 441 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $328.61, for a total value of $144,917.01. Following the completion of the transaction, the insider owned 6,102 shares of the company's stock, valued at approximately $2,005,178.22. This represents a 6.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ronda Stryker sold 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $340.10, for a total value of $17,005,000.00. Following the sale, the director owned 2,251,375 shares of the company's stock, valued at approximately $765,692,637.50. This trade represents a 2.17% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 351,267 shares of company stock valued at $118,197,701. 4.60% of the stock is currently owned by insiders.

Stryker 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.

Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Corporation (NYSE:SYK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.