Legal & General Group Plc Boosts Holdings in Stryker Corporation $SYK

Legal & General Group Plc increased its holdings in Stryker Corporation (NYSE:SYK) by 0.1% in the second quarter, Holdings Channel.com reports. The firm owned 2,206,628 shares of the medical technology company’s stock after acquiring an additional 1,697 shares during the period. Legal & General Group Plc’s holdings in Stryker were worth $873,008,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in SYK. MAI Capital Management boosted its position in Stryker by 20.0% during the second quarter. MAI Capital Management now owns 129,597 shares of the medical technology company’s stock valued at $51,272,000 after buying an additional 21,565 shares during the period. Neo Ivy Capital Management purchased a new position in shares of Stryker in the second quarter worth about $383,000. DNB Asset Management AS lifted its stake in shares of Stryker by 5.2% in the 2nd quarter. DNB Asset Management AS now owns 75,107 shares of the medical technology company’s stock valued at $29,715,000 after acquiring an additional 3,733 shares during the last quarter. Entropy Technologies LP purchased a new stake in Stryker during the 2nd quarter valued at about $2,163,000. Finally, Swiss National Bank boosted its holdings in Stryker by 7.5% during the 2nd quarter. Swiss National Bank now owns 1,039,900 shares of the medical technology company’s stock valued at $411,416,000 after acquiring an additional 72,300 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 276,173 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the completion of the transaction, the director owned 2,702,108 shares of the company’s stock, valued at approximately $954,600,714.24. This trade represents a 9.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Viju Menon sold 500 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $390.61, for a total value of $195,305.00. Following the completion of the sale, the insider directly owned 12,511 shares in the company, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 522,618 shares of company stock worth $185,577,237 over the last three months. Company insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on SYK shares. Wells Fargo & Company lifted their price target on Stryker from $452.00 to $456.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Redburn Partners set a $420.00 target price on shares of Stryker in a research note on Thursday, September 18th. Royal Bank Of Canada reiterated an “outperform” rating and set a $435.00 price target on shares of Stryker in a report on Friday, November 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of Stryker in a research report on Wednesday. Finally, Barclays boosted their price objective on shares of Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Thirteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $434.37.

Stryker Price Performance

SYK opened at $360.46 on Friday. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The company has a market cap of $137.85 billion, a price-to-earnings ratio of 47.74, a price-to-earnings-growth ratio of 2.66 and a beta of 0.94. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The stock has a fifty day simple moving average of $369.68 and a two-hundred day simple moving average of $380.77.

Stryker (NYSE:SYK) last released its earnings results on Thursday, October 30th. The medical technology company reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.13 by $0.06. The firm had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $6.04 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.87 EPS. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. Research analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.