Stryker Corporation $SYK Stake Boosted by Bridges Investment Management Inc.

Key Points

• Bridges Investment Management boosted its Stryker stake by 16% in the fourth quarter, adding 19,983 shares and bringing its total holding to 144,689 shares worth about $50.9 million.
• Stryker’s latest earnings missed analyst expectations, with Q1 EPS of $2.60 versus $2.98 expected and revenue of $6.02 billion versus $6.34 billion forecast, even though revenue still rose 2.6% year over year.
• The company declared a quarterly dividend of $0.88 per share, while analysts currently rate the stock a Moderate Buy with a consensus price target of $395.48 despite recent insider selling and a 2% stock decline.

Bridges Investment Management Inc. grew its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 16.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 144,689 shares of the medical technology company's stock after acquiring an additional 19,983 shares during the period. Bridges Investment Management Inc.'s holdings in Stryker were worth $50,854,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Godfrey Financial Associates Inc. purchased a new position in shares of Stryker during the 4th quarter valued at $26,000. United Financial Planning Group LLC bought a new stake in Stryker in the third quarter worth $27,000. CGC Financial Services LLC bought a new stake in Stryker in the fourth quarter worth $29,000. Strive Asset Management LLC bought a new stake in Stryker in the third quarter worth $30,000. Finally, ANTIPODES PARTNERS Ltd bought a new stake in Stryker in the third quarter worth $34,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SYK has been the subject of a number of recent research reports. Robert W. Baird set a $385.00 price objective on shares of Stryker in a report on Friday, May 1st. Weiss Ratings cut shares of Stryker from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, May 4th. Wells Fargo & Company decreased their price objective on shares of Stryker from $456.00 to $418.00 and set an "overweight" rating for the company in a report on Friday, May 1st. Evercore set a $355.00 price objective on shares of Stryker in a report on Friday, May 1st. Finally, Needham & Company LLC decreased their price objective on shares of Stryker from $454.00 to $418.00 and set a "buy" rating for the company in a report on Friday, May 1st. Sixteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $395.48.

Stryker Stock Down 2.0%

Stryker stock opened at $293.36 on Wednesday. The firm has a market cap of $112.46 billion, a price-to-earnings ratio of 33.95, a P/E/G ratio of 1.89 and a beta of 0.78. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.11 and a quick ratio of 1.25. Stryker Corporation has a fifty-two week low of $281.00 and a fifty-two week high of $404.87. The firm has a fifty day moving average price of $321.00 and a two-hundred day moving average price of $347.64.

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

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.52 dividend on an annualized basis and a yield of 1.2%. Stryker's payout ratio is currently 40.74%.

Insiders Place Their Bets

In other Stryker news, VP M Kathryn Fink sold 5,220 shares of the business's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $283.85, for a total transaction of $1,481,697.00. Following the completion of the transaction, the vice president owned 13,137 shares of the company's stock, valued at $3,728,937.45. The trade was a 28.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronda E. Stryker sold 310,000 shares of the business's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $312.23, for a total transaction of $96,791,300.00. Following the transaction, the director directly owned 1,924,880 shares of the company's stock, valued at approximately $601,005,282.40. This represents a 13.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 323,264 shares of company stock valued at $100,659,489 in the last quarter. Insiders own 4.60% of the company's stock.

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.

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.