Stryker Corporation $SYK Shares Purchased by Norris Perne & French LLP MI

Key Points

• Norris Perne & French LLP MI increased its Stryker stake by 251% in the third quarter, acquiring 35,439 additional shares for a total holding of 49,558 shares valued at approximately $13.6 million. Institutional investors collectively own 77.09% of Stryker.
• Stryker reported quarterly EPS of $3.69, surpassing estimates of $3.49, while revenue rose 9.4% year over year to $6.59 billion. The company issued annualized dividends of $3.52 per share, yielding about 1.1%.
• Shares opened at $307.65, while analysts maintained a consensus “Moderate Buy” rating with an average price target of $369.00. Insiders sold 351,267 shares worth approximately $118.2 million over the past 90 days.

Norris Perne & French LLP MI boosted its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 251.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,558 shares of the medical technology company's stock after purchasing an additional 35,439 shares during the period. Norris Perne & French LLP MI's holdings in Stryker were worth $13,648,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Stryker by 1.2% in the 2nd quarter. State Street Corp now owns 15,532,565 shares of the medical technology company's stock valued at $4,903,772,000 after purchasing an additional 183,400 shares during the period. Wellington Management Group LLP boosted its position in shares of Stryker by 0.6% during the second quarter. Wellington Management Group LLP now owns 8,167,185 shares of the medical technology company's stock worth $2,571,357,000 after buying an additional 45,478 shares during the period. Bank of America Corp DE acquired a new position in shares of Stryker during the second quarter worth about $1,404,284,000. Royal Bank of Canada boosted its position in shares of Stryker by 6.5% during the first quarter. Royal Bank of Canada now owns 3,273,232 shares of the medical technology company's stock worth $1,075,552,000 after buying an additional 199,863 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Stryker by 21.8% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,689,376 shares of the medical technology company's stock worth $846,723,000 after buying an additional 481,175 shares in the last quarter. Institutional investors own 77.09% of the company's stock.

Insider Transactions at Stryker

In related news, insider Debra King sold 826 shares of Stryker stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total transaction of $277,783.80. Following the completion of the sale, the insider owned 6,210 shares of the company's stock, valued at approximately $2,088,423. The trade was a 11.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ronda Stryker sold 50,000 shares of the company's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $340.10, for a total transaction of $17,005,000.00. Following the completion of the transaction, the director owned 2,251,375 shares in the company, valued at approximately $765,692,637.50. This trade represents a 2.17% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 351,267 shares of company stock worth $118,197,701. 4.60% of the stock is owned by insiders.

Stryker Trading Up 0.2%

Stryker stock opened at $307.65 on Friday. The stock has a 50-day simple moving average of $295.23 and a 200 day simple moving average of $311.93. The stock has a market capitalization of $118.01 billion, a P/E ratio of 31.88, a PEG ratio of 1.98 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 52 week low of $267.00 and a 52 week 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 (EPS) for the quarter, beating the consensus estimate of $3.49 by $0.20. Stryker had a return on equity of 23.63% and a net margin of 14.43%. The firm had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.58 billion. During the same quarter in the prior year, the company earned $3.13 earnings per share. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. Analysts expect that Stryker Corporation will post 14.93 earnings per share for the current year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders 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 yield of 1.1%. The ex-dividend date of this dividend is Wednesday, September 30th. Stryker's payout ratio is 36.48%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SYK. Sanford C. Bernstein reissued a "market perform" rating on shares of Stryker in a research report on Wednesday, October 7th. Royal Bank Of Canada lowered their price target on shares of Stryker from $435.00 to $420.00 and set an "outperform" rating on the stock in a research note on Friday, July 31st. Weiss Ratings reissued a "hold (c)" rating on shares of Stryker in a research report on Friday, July 31st. Wolfe Research downgraded shares of Stryker from an "outperform" rating to a "peer perform" rating in a research note on Thursday, August 13th. Finally, BTIG Research reduced their price objective on shares of Stryker from $358.00 to $316.00 and set a "buy" rating for the company in a research note on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $369.00.

Stryker Company Profile

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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