Stryker Corporation $SYK Shares Purchased by Manitou Investment Management Ltd.

Key Points

• Manitou Investment Management boosted its Stryker stake by 66.7% in the fourth quarter, ending with 83,091 shares valued at about $29.2 million. Stryker is now one of the fund’s top holdings, making up roughly 5.1% of its portfolio.
• Insider selling has been notable recently, including a large sale by director Ronda E. Stryker of 310,000 shares for about $96.8 million. In the past 90 days, insiders have sold 323,264 shares worth roughly $100.7 million.
• Stryker recently missed earnings and revenue estimates for its latest quarter, even though revenue still rose 2.6% year over year. Analysts currently rate the stock a Moderate Buy on average, with a consensus target price of about $395.48.

Manitou Investment Management Ltd. increased its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 66.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 83,091 shares of the medical technology company's stock after purchasing an additional 33,238 shares during the quarter. Stryker accounts for approximately 5.1% of Manitou Investment Management Ltd.'s portfolio, making the stock its 10th biggest position. Manitou Investment Management Ltd.'s holdings in Stryker were worth $29,204,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Stryker by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 33,907,291 shares of the medical technology company's stock worth $11,917,396,000 after purchasing an additional 133,892 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Stryker by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 7,535,572 shares of the medical technology company's stock worth $2,636,238,000 after purchasing an additional 69,851 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Stryker by 13.3% during the 3rd quarter. Alliancebernstein L.P. now owns 6,338,050 shares of the medical technology company's stock worth $2,342,987,000 after purchasing an additional 741,542 shares during the last quarter. Norges Bank purchased a new position in Stryker during the 4th quarter valued at about $1,822,272,000. Finally, Legal & General Group Plc boosted its holdings in Stryker by 2.7% during the 4th quarter. Legal & General Group Plc now owns 2,366,107 shares of the medical technology company's stock valued at $831,616,000 after acquiring an additional 62,817 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other 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 value of $96,791,300.00. Following 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 legal filing with the SEC, which can be accessed through this link. Also, VP M Kathryn Fink sold 5,220 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $283.85, for a total value of $1,481,697.00. Following the completion of the transaction, the vice president owned 13,137 shares in the company, valued at approximately $3,728,937.45. The trade was a 28.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 323,264 shares of company stock worth $100,659,489. 4.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. UBS Group lowered their target price on Stryker from $400.00 to $380.00 and set a "neutral" rating for the company in a report on Tuesday, March 17th. Deutsche Bank Aktiengesellschaft set a $315.00 target price on Stryker in a report on Friday, May 1st. Weiss Ratings cut Stryker from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, May 4th. Needham & Company LLC lowered their target price on Stryker from $454.00 to $418.00 and set a "buy" rating for the company in a report on Friday, May 1st. Finally, BTIG Research lowered their target price on Stryker from $397.00 to $379.00 and set a "buy" rating for the company in a report on Friday, May 1st. Sixteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $395.48.

Stryker Price Performance

SYK stock opened at $295.63 on Thursday. 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 $113.33 billion, a P/E ratio of 34.22, a P/E/G ratio of 1.85 and a beta of 0.78. The business's 50-day moving average is $319.41 and its two-hundred day moving average is $346.58. Stryker Corporation has a 1 year low of $281.00 and a 1 year high of $404.87.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly 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 analyst estimates of $6.34 billion. Stryker had a net margin of 13.20% and a return on equity of 23.42%. Stryker's revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.84 EPS. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. Analysts anticipate that Stryker Corporation will post 14.98 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be issued a $0.88 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.2%. Stryker's dividend payout ratio 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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