Eventide Asset Management LLC Increases Stock Position in Stryker Corporation $SYK

Eventide Asset Management LLC increased its position in Stryker Corporation (NYSE:SYK) by 138.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 8,585 shares of the medical technology company’s stock after purchasing an additional 4,982 shares during the period. Eventide Asset Management LLC’s holdings in Stryker were worth $3,040,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Godfrey Financial Associates Inc. purchased a new position in Stryker in the 4th quarter worth approximately $26,000. United Financial Planning Group LLC purchased a new position in Stryker in the 3rd quarter worth approximately $27,000. Atlas Capital Advisors Inc. purchased a new position in Stryker in the 4th quarter worth approximately $27,000. DJE Kapital AG purchased a new position in Stryker in the 4th quarter worth approximately $28,000. Finally, CGC Financial Services LLC purchased a new position in Stryker in the 4th quarter worth approximately $29,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on SYK. Wells Fargo & Company decreased their price objective on shares of Stryker from $456.00 to $418.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Canaccord Genuity Group cut their target price on shares of Stryker from $435.00 to $400.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Truist Financial reaffirmed a “hold” rating and issued a $330.00 target price (down from $380.00) on shares of Stryker in a research report on Monday, May 4th. Evercore set a $355.00 target price on shares of Stryker in a research report on Friday, May 1st. Finally, Needham & Company LLC cut their target price on shares of Stryker from $454.00 to $418.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Sixteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $395.33.

Stryker Trading Down 0.0%

NYSE:SYK opened at $312.14 on Monday. Stryker Corporation has a 12 month low of $281.00 and a 12 month high of $404.87. The company has a 50 day simple moving average of $316.40 and a two-hundred day simple moving average of $343.79. The company has a current ratio of 2.11, a quick ratio of 1.25 and a debt-to-equity ratio of 0.62. The company has a market cap of $119.66 billion, a PE ratio of 36.13, a price-to-earnings-growth ratio of 1.97 and a beta of 0.78.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, April 30th. The medical technology company reported $2.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.38). Stryker had a net margin of 13.20% and a return on equity of 23.42%. The business had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.34 billion. During the same period in the previous year, the firm 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. Research analysts forecast that Stryker Corporation will post 14.98 earnings per share for the current year.

Stryker Announces Dividend

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

Insider Activity

In other news, VP M Kathryn Fink sold 3,500 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $283.45, for a total transaction of $992,075.00. Following the completion of the sale, the vice president owned 177 shares of the company’s stock, valued at $50,170.65. The trade was a 95.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Robert S. Fletcher sold 4,544 shares of the business’s stock in a transaction on 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 sale, the vice president directly owned 10,582 shares of the company’s stock, valued at approximately $3,247,298.34. The trade was a 30.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 323,264 shares of company stock valued at $100,659,489 in the last 90 days. Company insiders own 4.60% of the company’s stock.

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.