Stryker Corporation $SYK Stake Increased by AXQ Capital LP

Key Points

• AXQ Capital LP sharply increased its Stryker stake by 984.9% in the fourth quarter, buying 6,451 additional shares and lifting its position to 7,106 shares worth about $2.5 million.
• Stryker reported mixed quarterly results, with EPS of $2.60 missing estimates of $2.98 and revenue of $6.02 billion also coming in below expectations, though sales still rose 2.6% year over year.
• The company recently declared a quarterly dividend of $0.88 per share, payable July 31, while analysts currently maintain a consensus rating of “Moderate Buy” with a target price around $395.48.

AXQ Capital LP grew its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 984.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,106 shares of the medical technology company's stock after purchasing an additional 6,451 shares during the period. Stryker makes up 0.6% of AXQ Capital LP's portfolio, making the stock its 12th biggest position. AXQ Capital LP's holdings in Stryker were worth $2,498,000 at the end of the most recent quarter.

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

Insider Activity at Stryker

In other Stryker news, VP M Kathryn Fink sold 3,500 shares of Stryker stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $283.45, for a total transaction of $992,075.00. Following the sale, the vice president directly owned 177 shares of the company's stock, valued at approximately $50,170.65. The trade was a 95.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronda E. Stryker sold 310,000 shares of Stryker stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $312.23, for a total value of $96,791,300.00. Following the sale, the director directly owned 1,924,880 shares in the company, valued at $601,005,282.40. The trade was a 13.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 323,264 shares of company stock worth $100,659,489. Company insiders own 4.60% of the company's stock.

Stryker Trading Down 1.9%

Shares of NYSE:SYK opened at $299.15 on Tuesday. The company has a market cap of $114.68 billion, a P/E ratio of 34.62, a P/E/G ratio of 1.92 and a beta of 0.80. The stock's 50-day moving average is $321.00 and its 200-day moving average is $347.64. Stryker Corporation has a 52-week low of $281.00 and a 52-week high of $404.87. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.25 and a current ratio of 2.11.

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

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, June 30th. Stryker's dividend payout ratio (DPR) is presently 40.74%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SYK shares. Deutsche Bank Aktiengesellschaft set a $315.00 price target on shares of Stryker in a research note on Friday, May 1st. JPMorgan Chase & Co. lowered their target price on shares of Stryker from $445.00 to $400.00 and set an "overweight" rating on the stock in a research report on Friday, May 1st. The Goldman Sachs Group reissued a "neutral" rating and set a $361.00 target price on shares of Stryker in a research report on Friday, May 1st. BTIG Research lowered their target price on shares of Stryker from $397.00 to $379.00 and set a "buy" rating on the stock in a research report on Friday, May 1st. Finally, UBS Group lowered their target price on shares of Stryker from $400.00 to $380.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 17th. Sixteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Stryker has a consensus rating of "Moderate Buy" and a consensus target price of $395.48.

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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