Mirae Asset Global Investments Co. Ltd. Grows Stock Holdings in Stryker Corporation $SYK

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Stryker Corporation (NYSE:SYK) by 2.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,415 shares of the medical technology company’s stock after buying an additional 1,157 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Stryker were worth $17,968,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SYK. Vanguard Group Inc. boosted its stake in shares of Stryker by 1.1% in the first quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company’s stock valued at $12,306,572,000 after purchasing an additional 361,136 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Stryker by 9.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company’s stock valued at $4,515,847,000 after purchasing an additional 1,021,496 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Stryker by 13.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company’s stock valued at $838,640,000 after purchasing an additional 261,058 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Stryker by 4.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,086,960 shares of the medical technology company’s stock valued at $776,871,000 after purchasing an additional 83,954 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Stryker by 1.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,015,374 shares of the medical technology company’s stock valued at $750,223,000 after purchasing an additional 30,329 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Needham & Company LLC upped their target price on shares of Stryker from $442.00 to $448.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Redburn Partners set a $420.00 price target on shares of Stryker in a report on Thursday, September 18th. Wall Street Zen cut shares of Stryker from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Rothschild & Co Redburn initiated coverage on shares of Stryker in a report on Thursday, September 18th. They issued a “neutral” rating and a $420.00 price target on the stock. Finally, Evercore ISI upped their price target on shares of Stryker from $390.00 to $415.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Fifteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $430.33.

Stryker Trading Up 1.1%

Stryker stock opened at $370.59 on Friday. The firm’s 50-day moving average is $382.81 and its 200-day moving average is $378.93. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19. The company has a market cap of $141.68 billion, a P/E ratio of 49.08, a PEG ratio of 2.67 and a beta of 0.94.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. During the same period last year, the firm posted $2.81 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, equities analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 44.50%.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the completion of the transaction, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Viju Menon sold 500 shares of the company’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the transaction, the insider owned 12,511 shares of the company’s stock, valued at $4,886,921.71. This represents a 3.84% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Stryker Profile

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.