Parnassus Investments LLC trimmed its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 6.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,835,779 shares of the medical technology company's stock after selling 132,803 shares during the quarter. Stryker accounts for about 1.6% of Parnassus Investments LLC's portfolio, making the stock its 26th biggest holding. Parnassus Investments LLC owned 0.48% of Stryker worth $683,369,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in SYK. GAMMA Investing LLC boosted its holdings in Stryker by 43,226.8% during the first quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock worth $772,390,000 after buying an additional 2,070,133 shares in the last quarter. Nuveen LLC bought a new stake in shares of Stryker during the 1st quarter worth $558,075,000. Price T Rowe Associates Inc. MD increased its stake in Stryker by 9.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company's stock worth $4,515,847,000 after purchasing an additional 1,021,496 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Stryker during the 4th quarter worth about $154,140,000. Finally, Vanguard Group Inc. lifted its position in shares of Stryker by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock valued at $12,306,572,000 after acquiring an additional 361,136 shares in the last quarter. Institutional investors own 77.09% of the company's stock.
Insider Transactions at Stryker
In related news, insider Viju Menon sold 500 shares of the company's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $390.61, for a total transaction of $195,305.00. Following the transaction, the insider owned 12,511 shares in the company, valued at $4,886,921.71. This represents a 3.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the sale, the director directly owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.20% of the company's stock.
Stryker Price Performance
Shares of Stryker stock traded up $1.81 during midday trading on Monday, hitting $391.48. 672,496 shares of the company were exchanged, compared to its average volume of 1,150,000. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. The firm has a 50 day simple moving average of $389.26 and a 200-day simple moving average of $379.33. The firm has a market cap of $149.67 billion, a P/E ratio of 51.85, a PEG ratio of 2.85 and a beta of 0.93.
Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $5.92 billion. During the same quarter last year, the company posted $2.81 EPS. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Research analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current year.
Stryker Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker's dividend payout ratio (DPR) is currently 44.50%.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on SYK. Evercore ISI raised their target price on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Needham & Company LLC lifted their price objective on Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Citigroup restated a "buy" rating and set a $455.00 price target (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Finally, Sanford C. Bernstein set a $450.00 price target on Stryker in a research note on Monday, May 5th. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $430.10.
Check Out Our Latest Research Report on SYK
About Stryker
(
Free Report)
Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.
Further Reading
Before you consider Stryker, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Stryker wasn't on the list.
While Stryker currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
