Mystic Asset Management Inc. Invests $5.01 Million in Stryker Corporation $SYK

Mystic Asset Management Inc. acquired a new stake in Stryker Corporation (NYSE:SYK) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 15,922 shares of the medical technology company’s stock, valued at approximately $5,013,000. Stryker makes up about 1.1% of Mystic Asset Management Inc.’s portfolio, making the stock its 23rd largest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in Stryker by 15.4% during the 4th 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 in the last quarter. Schnieders Capital Management LLC. bought a new stake in shares of Stryker in the 2nd quarter worth $205,000. Marshall Wace LLP raised its stake in shares of Stryker by 107.9% in the 2nd quarter. Marshall Wace LLP now owns 5,700 shares of the medical technology company’s stock worth $2,255,000 after buying an additional 77,831 shares in the last quarter. Nebula Research & Development LLC acquired a new stake in shares of Stryker in the second quarter valued at $219,000. Finally, HUB Investment Partners LLC bought a new position in Stryker during the second quarter valued at about $253,000. Institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Piper Sandler lowered their target price on Stryker from $420.00 to $390.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. Leerink Partners reduced their price objective on shares of Stryker from $410.00 to $407.00 and set an “outperform” rating for the company in a research report on Friday, June 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Stryker in a research note on Friday, July 31st. Wall Street Zen upgraded shares of Stryker from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Barclays cut their target price on shares of Stryker from $469.00 to $394.00 and set an “overweight” rating for the company in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $386.28.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 310,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $312.23, for a total value of $96,791,300.00. Following the completion of the sale, the director directly owned 1,924,880 shares of the company’s stock, valued at $601,005,282.40. This represents a 13.87% 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. Also, insider Debra King sold 826 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $336.30, for a total transaction of $277,783.80. Following the sale, the insider owned 6,210 shares of the company’s stock, valued at approximately $2,088,423. This represents a 11.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 665,370 shares of company stock valued at $216,238,501. Company insiders own 4.60% of the company’s stock.

Stryker Trading Down 3.5%

NYSE:SYK opened at $327.97 on Friday. The stock has a fifty day simple moving average of $326.64 and a 200 day simple moving average of $332.66. The firm has a market capitalization of $125.80 billion, a price-to-earnings ratio of 33.99, a price-to-earnings-growth ratio of 2.17 and a beta of 0.76. Stryker Corporation has a 1-year low of $281.00 and a 1-year high of $396.86. The company has a quick ratio of 1.33, a current ratio of 2.16 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, July 30th. The medical technology company reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $0.20. Stryker had a net margin of 14.43% and a return on equity of 23.63%. The company had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.58 billion. During the same period in the prior year, the firm earned $3.13 earnings per share. The business’s quarterly revenue was up 9.4% on a year-over-year basis. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. Sell-side analysts forecast that Stryker Corporation will post 15.02 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, September 30th. Stryker’s dividend payout ratio is 36.48%.

Stryker Company Profile

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.