Parnassus Investments LLC Has $684.51 Million Stock Holdings in Stryker Corporation $SYK

Parnassus Investments LLC lifted its stake in Stryker Corporation (NYSE:SYK) by 23.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,947,575 shares of the medical technology company’s stock after acquiring an additional 366,059 shares during the quarter. Stryker makes up 1.8% of Parnassus Investments LLC’s portfolio, making the stock its 23rd biggest holding. Parnassus Investments LLC owned 0.51% of Stryker worth $684,514,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. United Financial Planning Group LLC bought a new stake in Stryker in the third quarter worth $27,000. Godfrey Financial Associates Inc. bought a new stake in Stryker in the fourth quarter worth $26,000. Strive Asset Management LLC bought a new stake in Stryker in the third quarter worth $30,000. CGC Financial Services LLC bought a new stake in Stryker in the fourth quarter worth $29,000. Finally, ANTIPODES PARTNERS Ltd bought a new stake in Stryker in the third quarter worth $34,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Stock Down 1.0%

SYK stock opened at $305.82 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.11 and a quick ratio of 1.25. Stryker Corporation has a 52-week low of $281.00 and a 52-week high of $404.87. The company has a 50-day moving average of $316.75 and a two-hundred day moving average of $344.20. The stock has a market capitalization of $117.24 billion, a price-to-earnings ratio of 35.40, a price-to-earnings-growth ratio of 1.95 and a beta of 0.78.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, April 30th. The medical technology company reported $2.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.38). Stryker had a net margin of 13.20% and a return on equity of 23.42%. The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.34 billion. During the same quarter last year, the company earned $2.84 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. As a group, equities research analysts anticipate that Stryker Corporation will post 14.98 EPS for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Tuesday, June 30th. Stryker’s dividend payout ratio is 40.74%.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 310,000 shares of the stock in a transaction dated 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 sale, the director owned 1,924,880 shares in the company, valued at approximately $601,005,282.40. This trade represents a 13.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert S. Fletcher sold 4,544 shares of the stock in a transaction dated 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 completion of 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 position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 323,264 shares of company stock worth $100,659,489 over the last ninety days. Company insiders own 4.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group reiterated a “neutral” rating and issued a $361.00 price objective on shares of Stryker in a report on Friday, May 1st. Leerink Partners decreased their price objective on shares of Stryker from $410.00 to $407.00 and set an “outperform” rating for the company in a report on Friday, June 5th. William Blair reiterated an “outperform” rating on shares of Stryker in a report on Thursday, March 5th. Weiss Ratings cut shares of Stryker from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 4th. Finally, Wells Fargo & Company decreased their price objective on shares of Stryker from $456.00 to $418.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Sixteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $395.33.

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.