Stryker Corporation $SYK Stock: E. Ohman J or Asset Management AB Reduces Stake

Key Points

• E. Ohman Jor Asset Management AB cut its Stryker stake by 24.3% in the third quarter, selling 31,981 shares and retaining 99,490 shares valued at approximately $27.4 million. Institutional investors own 77.09% of the company.
• Analysts remain broadly positive, with Stryker carrying a consensus “Moderate Buy” rating and an average price target of $369, despite several target-price reductions.
• Insiders sold $118.2 million worth of Stryker shares over the past three months, including a $100.8 million sale by director Ronda Stryker. The company reported quarterly revenue growth of 9.4% year over year and declared a quarterly dividend of $0.88 per share.

E. Ohman J or Asset Management AB reduced its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 24.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 99,490 shares of the medical technology company's stock after selling 31,981 shares during the quarter. E. Ohman J or Asset Management AB's holdings in Stryker were worth $27,399,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Pinnacle Bancorp Inc. boosted its position in shares of Stryker by 5.2% during the third quarter. Pinnacle Bancorp Inc. now owns 1,017 shares of the medical technology company's stock worth $280,000 after purchasing an additional 50 shares in the last quarter. Cypress Wealth Services LLC lifted its holdings in shares of Stryker by 6.9% during the 3rd quarter. Cypress Wealth Services LLC now owns 2,254 shares of the medical technology company's stock valued at $627,000 after purchasing an additional 146 shares in the last quarter. Vest Financial LLC increased its stake in Stryker by 12.4% during the 3rd quarter. Vest Financial LLC now owns 1,353 shares of the medical technology company's stock worth $373,000 after purchasing an additional 149 shares in the last quarter. Eagle Rock Investment Company LLC raised its holdings in Stryker by 63.4% during the 3rd quarter. Eagle Rock Investment Company LLC now owns 49,939 shares of the medical technology company's stock worth $13,753,000 after buying an additional 19,374 shares during the period. Finally, Arwa LLC raised its holdings in shares of Stryker by 4.8% during the third quarter. Arwa LLC now owns 4,104 shares of the medical technology company's stock worth $1,159,000 after acquiring an additional 189 shares during the period. Institutional investors own 77.09% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Canaccord Genuity Group lowered their target price on Stryker from $400.00 to $385.00 and set a "buy" rating for the company in a report on Friday, September 18th. Citigroup decreased their price target on shares of Stryker from $399.00 to $360.00 and set a "buy" rating on the stock in a research note on Thursday, September 10th. Weiss Ratings restated a "hold (c)" rating on shares of Stryker in a research note on Friday, July 31st. UBS Group initiated coverage on Stryker in a report on Tuesday, July 28th. They set a "buy" rating and a $400.00 target price for the company. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $317.00 price target on shares of Stryker in a research report on Wednesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Stryker currently has a consensus rating of "Moderate Buy" and a consensus target price of $369.00.

Insider Buying and Selling

In other news, insider Debra King sold 826 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $336.30, for a total value 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. This represents a 11.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ronda Stryker sold 300,000 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $335.90, for a total value of $100,770,000.00. Following the completion of the sale, the director owned 2,301,375 shares in the company, valued at $773,031,862.50. The trade was a 11.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 351,267 shares of company stock valued at $118,197,701 in the last three months. Insiders own 4.60% of the company's stock.

Stryker Stock Up 3.3%

Shares of NYSE SYK opened at $307.41 on Friday. The stock has a 50-day moving average price of $295.86 and a two-hundred day moving average price of $311.96. Stryker Corporation has a 12 month low of $267.00 and a 12 month high of $389.33. The company has a current ratio of 2.16, a quick ratio of 1.33 and a debt-to-equity ratio of 0.59. The company has a market cap of $117.91 billion, a price-to-earnings ratio of 31.86, a PEG ratio of 1.92 and a beta of 0.78.

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, topping analysts' consensus estimates of $3.49 by $0.20. Stryker had a net margin of 14.43% and a return on equity of 23.63%. The business had revenue of $6.59 billion during the quarter, compared to analysts' expectations of $6.58 billion. During the same period in the prior year, the company earned $3.13 EPS. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. As a group, analysts forecast that Stryker Corporation will post 14.93 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, September 30th. Stryker's dividend payout ratio is 36.48%.

About Stryker

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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