Madison Asset Management LLC Invests $3.22 Million in Stryker Corporation $SYK

Madison Asset Management LLC bought a new position in Stryker Corporation (NYSE:SYK) during the second quarter, Holdings Channel reports. The firm bought 10,231 shares of the medical technology company’s stock, valued at approximately $3,221,000.

Several other large investors have also added to or reduced their stakes in the business. Csenge Advisory Group acquired a new position in Stryker during the 2nd quarter valued at about $843,000. AssuredPartners Investment Advisors LLC purchased a new stake in shares of Stryker in the second quarter worth approximately $298,000. Shepherd Financial Partners LLC purchased a new stake in shares of Stryker in the second quarter worth approximately $230,000. Johnson Financial Group Inc. bought a new position in shares of Stryker in the second quarter valued at approximately $842,000. Finally, Tocqueville Asset Management L.P. bought a new position in shares of Stryker in the second quarter valued at approximately $416,000. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of SYK opened at $327.97 on Friday. The company has a current ratio of 2.16, a quick ratio of 1.33 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $125.80 billion, a price-to-earnings ratio of 33.99, a PEG ratio of 2.17 and a beta of 0.76. The stock has a 50 day moving average of $326.64 and a 200 day moving average of $332.66. Stryker Corporation has a 12 month low of $281.00 and a 12 month high of $396.86.

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

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, September 30th. Stryker’s payout ratio is presently 36.48%.

Wall Street Analyst Weigh In

SYK has been the subject of several recent research reports. Barclays decreased their price target on Stryker from $469.00 to $394.00 and set an “overweight” rating for the company in a report on Monday, May 4th. Wolfe Research cut Stryker from an “outperform” rating to a “peer perform” rating in a research note on Thursday, August 13th. BTIG Research cut their price objective on shares of Stryker from $371.00 to $358.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Truist Financial upped their target price on shares of Stryker from $330.00 to $340.00 and gave the stock a “hold” rating in a research note on Friday, July 31st. Finally, Piper Sandler lowered their target price on shares of Stryker from $420.00 to $390.00 and set an “overweight” rating for the company in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $386.28.

Insider Buying and Selling

In other Stryker news, VP Robert S. Fletcher sold 4,544 shares of Stryker stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $306.87, for a total value of $1,394,417.28. Following the sale, the vice president 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Debra King sold 826 shares of Stryker stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $336.30, for a total transaction of $277,783.80. Following the completion of the sale, the insider directly owned 6,210 shares in the company, valued at approximately $2,088,423. This represents a 11.74% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 665,370 shares of company stock valued at $216,238,501. 4.60% of the stock is owned by insiders.

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.