Stryker Corporation $SYK Shares Sold by Arax Advisory Partners

Key Points

• Arax Advisory Partners cut its Stryker stake by 43.7% in the fourth quarter, selling 3,502 shares and leaving it with 4,512 shares worth about $1.586 million.
• Stryker reported weaker-than-expected quarterly results, with EPS of $2.60 versus the $2.98 estimate and revenue of $6.02 billion versus the $6.34 billion forecast, though revenue still rose 2.6% year over year.
• The company announced a quarterly dividend of $0.88 per share payable July 31, while analysts currently rate the stock a “Moderate Buy” with an average price target of $395.33.

Arax Advisory Partners cut its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 43.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,512 shares of the medical technology company's stock after selling 3,502 shares during the quarter. Arax Advisory Partners' holdings in Stryker were worth $1,586,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SYK. Vanguard Group Inc. boosted its holdings in Stryker by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 33,907,291 shares of the medical technology company's stock valued at $11,917,396,000 after purchasing an additional 133,892 shares during the last quarter. State Street Corp boosted its holdings in Stryker by 2.1% in the fourth quarter. State Street Corp now owns 15,254,407 shares of the medical technology company's stock valued at $5,374,731,000 after purchasing an additional 311,507 shares during the last quarter. Geode Capital Management LLC lifted its holdings in 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 buying an additional 69,851 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in 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 buying an additional 741,542 shares during the last quarter. Finally, Norges Bank bought a new position in Stryker during the 4th quarter worth approximately $1,822,272,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Performance

Shares of Stryker stock opened at $307.86 on Tuesday. The stock has a market cap of $118.02 billion, a PE ratio of 35.63, a price-to-earnings-growth ratio of 1.97 and a beta of 0.78. The business has a fifty day simple moving average of $315.93 and a 200-day simple moving average of $343.32. The company has a quick ratio of 1.25, a current ratio of 2.11 and a debt-to-equity ratio of 0.62. Stryker Corporation has a 12 month low of $281.00 and a 12 month high of $404.87.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Thursday, April 30th. The medical technology company reported $2.60 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.38). The company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.34 billion. Stryker had a net margin of 13.20% and a return on equity of 23.42%. Stryker's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business earned $2.84 earnings per share. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. On average, sell-side analysts anticipate that Stryker Corporation will post 14.98 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be issued 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 Tuesday, June 30th. Stryker's payout ratio is presently 40.74%.

Analysts Set New Price Targets

A number of research firms have commented on SYK. Leerink Partners reduced their target price on Stryker from $410.00 to $407.00 and set an "outperform" rating on the stock in a report on Friday, June 5th. Canaccord Genuity Group lowered their target price on Stryker from $435.00 to $400.00 and set a "buy" rating on the stock in a research report on Friday, May 1st. Barclays lowered their target price on Stryker from $469.00 to $394.00 and set an "overweight" rating on the stock in a research report on Monday, May 4th. JPMorgan Chase & Co. lowered their price target on Stryker from $445.00 to $400.00 and set an "overweight" rating on the stock in a research report on Friday, May 1st. Finally, Citigroup lowered their price target on Stryker from $420.00 to $385.00 and set a "buy" rating on the stock in a research report on Tuesday, April 7th. Sixteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $395.33.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 310,000 shares of the business's stock in a transaction that occurred on 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 directly owned 1,924,880 shares of the company's stock, valued at $601,005,282.40. The trade was a 13.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP M Kathryn Fink sold 3,500 shares of the business's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $283.45, for a total value of $992,075.00. Following the completion of the transaction, the vice president directly owned 177 shares in the company, valued at $50,170.65. The trade was a 95.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 323,264 shares of company stock valued at $100,659,489. 4.60% of the stock is currently owned by corporate insiders.

Stryker Company 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.

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