Stryker Corporation $SYK Shares Sold by Magellan Asset Management Ltd

Magellan Asset Management Ltd reduced its stake in Stryker Corporation (NYSE:SYK) by 11.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 301,120 shares of the medical technology company’s stock after selling 37,185 shares during the quarter. Magellan Asset Management Ltd owned approximately 0.08% of Stryker worth $98,945,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SYK. Vanguard Group Inc. raised its stake in Stryker by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 33,907,291 shares of the medical technology company’s stock worth $11,917,396,000 after purchasing an additional 133,892 shares during the period. State Street Corp increased its stake in Stryker by 2.1% during the fourth quarter. State Street Corp now owns 15,254,407 shares of the medical technology company’s stock worth $5,374,731,000 after acquiring an additional 311,507 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Stryker by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 7,535,572 shares of the medical technology company’s stock valued at $2,636,238,000 after purchasing an additional 69,851 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Stryker by 22.6% during the 4th quarter. Wellington Management Group LLP now owns 6,493,276 shares of the medical technology company’s stock worth $2,282,192,000 after purchasing an additional 1,198,665 shares during the period. Finally, Norges Bank acquired a new position in Stryker in the fourth quarter valued at about $1,822,272,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SYK. Leerink Partners reduced their price target on shares of Stryker from $410.00 to $407.00 and set an “outperform” rating on the stock in a research note on Friday, June 5th. Sanford C. Bernstein set a $410.00 target price on Stryker in a research report on Friday, May 1st. Needham & Company LLC cut their target price on shares of Stryker from $454.00 to $418.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Citigroup dropped their price target on shares of Stryker from $420.00 to $385.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. Finally, Wells Fargo & Company decreased their target price on Stryker from $456.00 to $418.00 and set an “overweight” rating for the company in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $392.52.

Stryker Stock Performance

NYSE:SYK opened at $313.89 on Wednesday. Stryker Corporation has a 12 month low of $281.00 and a 12 month high of $404.87. 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 firm has a market capitalization of $120.33 billion, a PE ratio of 36.33, a price-to-earnings-growth ratio of 2.04 and a beta of 0.77. The business’s fifty day moving average price is $313.79 and its 200 day moving average price is $336.20.

Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, April 30th. The medical technology company reported $2.60 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $6.34 billion. During the same period in the prior year, the company posted $2.84 earnings per share. The company’s revenue was up 2.6% compared to the same quarter last year. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. On average, sell-side analysts anticipate that Stryker Corporation will post 14.99 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Stryker’s dividend payout ratio is currently 40.74%.

Insiders Place Their Bets

In related news, VP Robert S. Fletcher sold 4,544 shares of Stryker 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 in the company, valued at $3,247,298.34. This trade represents a 30.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 on Tuesday, May 26th. The shares were sold at an average price of $312.23, for a total transaction 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 approximately $601,005,282.40. This trade represents a 13.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 323,264 shares of company stock valued at $100,659,489. 4.60% of the stock is owned by corporate 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.