Stryker Corporation $SYK Shares Sold by Magellan Asset Management Ltd

Magellan Asset Management Ltd lowered its position in shares of Stryker Corporation (NYSE:SYK) by 1.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 530,744 shares of the medical technology company’s stock after selling 5,671 shares during the period. Stryker accounts for 2.4% of Magellan Asset Management Ltd’s portfolio, making the stock its 14th biggest holding. Magellan Asset Management Ltd owned about 0.14% of Stryker worth $209,978,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC lifted its holdings in shares of Stryker by 15.4% during the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock valued at $1,643,000 after purchasing an additional 609 shares during the last quarter. Brown Advisory Inc. grew its position in Stryker by 2.2% during the first quarter. Brown Advisory Inc. now owns 47,079 shares of the medical technology company’s stock valued at $17,525,000 after purchasing an additional 993 shares in the last quarter. Axxcess Wealth Management LLC increased its stake in shares of Stryker by 3.9% in the first quarter. Axxcess Wealth Management LLC now owns 5,223 shares of the medical technology company’s stock worth $1,944,000 after acquiring an additional 196 shares during the last quarter. Cerity Partners LLC boosted its position in Stryker by 17.4% during the first quarter. Cerity Partners LLC now owns 271,069 shares of the medical technology company’s stock valued at $100,912,000 after purchasing an additional 40,140 shares during the last quarter. Finally, Mar Vista Investment Partners LLC increased its position in Stryker by 10.2% in the 1st quarter. Mar Vista Investment Partners LLC now owns 90,187 shares of the medical technology company’s stock worth $33,572,000 after purchasing an additional 8,353 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Up 0.5%

Shares of SYK opened at $355.74 on Friday. The company has a market capitalization of $136.04 billion, a P/E ratio of 47.12, a PEG ratio of 2.66 and a beta of 0.94. Stryker Corporation has a one year low of $329.16 and a one year high of $406.19. The business’s 50 day simple moving average is $374.63 and its 200-day simple moving average is $380.99. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, October 30th. The medical technology company reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.13 by $0.06. The firm had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $6.04 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 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.87 EPS. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. As a group, sell-side analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. UBS Group set a $408.00 price target on Stryker in a research report on Monday, October 13th. Truist Financial reiterated a “hold” rating and issued a $392.00 price objective (down previously from $407.00) on shares of Stryker in a research report on Monday, November 3rd. Weiss Ratings restated a “buy (b-)” rating on shares of Stryker in a research note on Wednesday, October 8th. Rothschild Redb upgraded shares of Stryker to a “hold” rating in a research note on Thursday, September 18th. Finally, Rothschild & Co Redburn assumed coverage on shares of Stryker in a research note on Thursday, September 18th. They issued a “neutral” rating and a $420.00 price objective for the company. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus target price of $433.37.

Insider Transactions at Stryker

In related news, insider Viju Menon sold 500 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the completion of the sale, the insider owned 12,511 shares of the company’s stock, valued at $4,886,921.71. This trade represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ronda E. Stryker sold 276,173 shares of the company’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total value of $97,566,397.44. Following the transaction, the director directly owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. This represents a 9.27% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 520,500 shares of company stock worth $184,803,065. Insiders own 5.90% of the company’s stock.

Stryker Company Profile

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.