Bank of New York Mellon Corp Sells 359,418 Shares of Stryker Corporation $SYK

Bank of New York Mellon Corp trimmed its holdings in Stryker Corporation (NYSE:SYK) by 8.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,952,401 shares of the medical technology company’s stock after selling 359,418 shares during the period. Bank of New York Mellon Corp’s holdings in Stryker were worth $1,298,720,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in SYK. Godfrey Financial Associates Inc. bought a new stake in shares of Stryker in the fourth quarter valued at about $26,000. Sankala Group LLC acquired a new stake in Stryker in the 4th quarter worth about $26,000. United Financial Planning Group LLC bought a new position in shares of Stryker during the third quarter worth approximately $27,000. Atlas Capital Advisors Inc. acquired a new stake in shares of Stryker in the fourth quarter valued at approximately $27,000. Finally, DJE Kapital AG bought a new stake in shares of Stryker in the fourth quarter valued at approximately $28,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SYK. Wall Street Zen downgraded Stryker from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. BMO Capital Markets initiated coverage on Stryker in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $369.00 price target for the company. Robert W. Baird set a $385.00 price objective on shares of Stryker in a research report on Friday, May 1st. Canaccord Genuity Group dropped 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. Finally, Needham & Company LLC cut their price target on shares of Stryker from $454.00 to $418.00 and set a “buy” rating for the company in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $392.52.

Stryker Price Performance

SYK stock opened at $316.46 on Thursday. The stock has a market cap of $121.32 billion, a price-to-earnings ratio of 36.63, a P/E/G ratio of 1.99 and a beta of 0.77. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.11 and a quick ratio of 1.25. The company has a 50 day simple moving average of $311.28 and a 200 day simple moving average of $337.10. Stryker Corporation has a 1 year low of $281.00 and a 1 year high of $404.87.

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

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders 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 yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Stryker’s dividend payout ratio is presently 40.74%.

Insider Buying and Selling at Stryker

In other Stryker news, VP M Kathryn Fink sold 5,220 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $283.85, for a total value of $1,481,697.00. Following the completion of the transaction, the vice president directly owned 13,137 shares in the company, valued at approximately $3,728,937.45. This trade represents a 28.44% 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, Director Ronda E. Stryker sold 310,000 shares of the company’s 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 transaction, 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 position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 323,264 shares of company stock worth $100,659,489. 4.60% of the stock is currently owned by insiders.

Stryker 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.