Stryker Corporation $SYK Stock Holdings Boosted by Parallel Advisors LLC

Parallel Advisors LLC lifted its position in shares of Stryker Corporation (NYSE:SYK) by 2.7% in the 2nd quarter, Holdings Channel reports. The fund owned 19,616 shares of the medical technology company’s stock after buying an additional 516 shares during the period. Parallel Advisors LLC’s holdings in Stryker were worth $7,761,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of SYK. GAMMA Investing LLC grew its position in shares of 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 acquiring an additional 2,070,133 shares during the last quarter. Nuveen LLC acquired a new stake in Stryker in the first quarter worth about $558,075,000. Price T Rowe Associates Inc. MD lifted its holdings in Stryker by 9.2% in the first 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 during the period. Alliancebernstein L.P. lifted its holdings in Stryker by 66.7% in the first quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company’s stock worth $511,152,000 after purchasing an additional 549,643 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Stryker in the fourth quarter worth about $154,140,000. Institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Needham & Company LLC upped their price objective on shares of Stryker from $442.00 to $448.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Citigroup reaffirmed a “buy” rating and issued a $455.00 price objective (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Wells Fargo & Company upped their price objective on shares of Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. BTIG Research reissued a “buy” rating on shares of Stryker in a report on Monday, July 14th. Finally, Evercore ISI upped their price target on shares of Stryker from $390.00 to $415.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $431.42.

Insider Activity

In other Stryker news, insider Viju Menon sold 500 shares of the business’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the sale, the insider owned 12,511 shares in the company, valued at approximately $4,886,921.71. The trade was a 3.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the sale, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their position. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by insiders.

Stryker Price Performance

Shares of NYSE SYK opened at $383.32 on Monday. The firm has a 50-day moving average of $388.98 and a two-hundred day moving average of $379.50. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $146.55 billion, a price-to-earnings ratio of 50.77, a PEG ratio of 2.76 and a beta of 0.93. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $0.06. The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, analysts expect that Stryker Corporation will post 13.47 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, October 31st. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker’s payout ratio is presently 44.50%.

About Stryker

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.