Thrivent Financial for Lutherans Increases Position in Stryker Corporation $SYK

Key Points

• Thrivent Financial for Lutherans increased its Stryker stake by 22.1% in the fourth quarter, buying 21,548 more shares and bringing its total to 119,191 shares worth about $41.9 million.
• Several other institutional investors also added to their positions, and hedge funds and institutions now own 77.09% of Stryker’s stock.
• Stryker reported weaker-than-expected quarterly results and saw multiple analysts trim price targets, though the stock still carries a consensus “Moderate Buy” rating with an average target of $395.48.

Thrivent Financial for Lutherans boosted its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 22.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 119,191 shares of the medical technology company's stock after purchasing an additional 21,548 shares during the quarter. Thrivent Financial for Lutherans' holdings in Stryker were worth $41,905,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew 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 worth $11,917,396,000 after purchasing an additional 133,892 shares during the period. Alliancebernstein L.P. grew its holdings in 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 purchasing an additional 741,542 shares during the period. Legal & General Group Plc grew its holdings in Stryker by 4.4% in the third quarter. Legal & General Group Plc now owns 2,303,290 shares of the medical technology company's stock worth $851,457,000 after purchasing an additional 96,662 shares during the period. Corient Private Wealth LLC grew its holdings in Stryker by 104.4% in the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company's stock worth $887,525,000 after purchasing an additional 1,146,998 shares during the period. Finally, Invesco Ltd. grew its holdings in Stryker by 4.5% in the third quarter. Invesco Ltd. now owns 1,864,918 shares of the medical technology company's stock worth $689,404,000 after purchasing an additional 80,536 shares during the period. Hedge funds and other institutional investors own 77.09% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SYK shares. Needham & Company LLC cut their price target on shares of Stryker from $454.00 to $418.00 and set a "buy" rating on the stock in a report on Friday, May 1st. JPMorgan Chase & Co. cut their price target on shares of Stryker from $445.00 to $400.00 and set an "overweight" rating on the stock in a report on Friday, May 1st. Sanford C. Bernstein set a $410.00 price target on shares of Stryker in a report on Friday, May 1st. Canaccord Genuity Group cut their price target on shares of Stryker from $435.00 to $400.00 and set a "buy" rating on the stock in a report on Friday, May 1st. Finally, Robert W. Baird set a $385.00 price target on shares of Stryker in a report on Friday, May 1st. Sixteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $395.48.

Insiders Place Their Bets

In related news, VP M Kathryn Fink sold 5,220 shares of the stock in a transaction that occurred 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 transaction, the vice president owned 13,137 shares in the company, valued at $3,728,937.45. This represents a 28.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.60% of the stock is currently owned by company insiders.

Stryker Trading Up 0.4%

NYSE:SYK opened at $306.74 on Friday. The company's 50 day moving average price is $329.68 and its 200-day moving average price is $351.73. Stryker Corporation has a 52 week low of $281.00 and a 52 week high of $404.87. The company has a quick ratio of 1.25, a current ratio of 2.11 and a debt-to-equity ratio of 0.62. The stock has a market cap of $117.59 billion, a price-to-earnings ratio of 35.50, a PEG ratio of 1.93 and a beta of 0.80.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data 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 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%. The firm's revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the company earned $2.84 EPS. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. On average, equities research analysts forecast that Stryker Corporation will post 14.98 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a dividend of $0.88 per share. The ex-dividend date is Tuesday, June 30th. This represents a $3.52 dividend on an annualized basis and a yield of 1.1%. Stryker's dividend payout ratio is 40.74%.

About Stryker

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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