Magellan Asset Management Ltd Sells 80,115 Shares of Stryker Corporation $SYK

Magellan Asset Management Ltd trimmed its position in Stryker Corporation (NYSE:SYK) by 19.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 338,305 shares of the medical technology company’s stock after selling 80,115 shares during the quarter. Stryker accounts for 1.4% of Magellan Asset Management Ltd’s holdings, making the stock its 29th largest holding. Magellan Asset Management Ltd’s holdings in Stryker were worth $118,904,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Godfrey Financial Associates Inc. bought a new stake in shares of Stryker during the fourth quarter worth $26,000. United Financial Planning Group LLC bought a new stake in shares of Stryker during the third quarter worth $27,000. Strive Asset Management LLC bought a new stake in shares of Stryker during the third quarter worth $30,000. CGC Financial Services LLC bought a new stake in shares of Stryker during the fourth quarter worth $29,000. Finally, ANTIPODES PARTNERS Ltd bought a new stake in shares of Stryker during the third quarter worth $34,000. Institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling

In related news, VP Robert S. Fletcher sold 4,544 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $306.87, for a total transaction of $1,394,417.28. Following the transaction, the vice president directly owned 10,582 shares in the company, valued at approximately $3,247,298.34. The trade was a 30.04% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ronda E. Stryker sold 310,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $312.23, for a total transaction of $96,791,300.00. Following the transaction, the director owned 1,924,880 shares in the company, valued at approximately $601,005,282.40. This trade represents a 13.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 323,264 shares of company stock worth $100,659,489 in the last quarter. Insiders own 4.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Robert W. Baird set a $385.00 target price on shares of Stryker in a research note on Friday, May 1st. William Blair reaffirmed an “outperform” rating on shares of Stryker in a research note on Thursday, March 5th. Deutsche Bank Aktiengesellschaft set a $315.00 target price on shares of Stryker in a research note 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. Finally, Leerink Partners started coverage on shares of Stryker in a report on Monday, April 13th. They set an “outperform” rating and a $410.00 price target on the stock. Sixteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $395.48.

Stryker Price Performance

Shares of NYSE SYK opened at $300.82 on Friday. The company has a current ratio of 2.11, a quick ratio of 1.25 and a debt-to-equity ratio of 0.62. Stryker Corporation has a 1-year low of $281.00 and a 1-year high of $404.87. The firm has a market capitalization of $115.32 billion, a P/E ratio of 34.82, a P/E/G ratio of 1.86 and a beta of 0.78. The firm’s 50-day moving average price is $318.86 and its 200-day moving average price is $346.14.

Stryker (NYSE:SYK) last posted its earnings results 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). Stryker had a return on equity of 23.42% and a net margin of 13.20%.The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.34 billion. During the same quarter in the prior year, the company earned $2.84 EPS. The company’s revenue was up 2.6% on a year-over-year basis. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. Equities research analysts anticipate that Stryker Corporation will post 14.98 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, June 30th. Stryker’s dividend payout ratio is currently 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.