The Manufacturers Life Insurance Company Takes $270.64 Million Position in Stryker Corporation $SYK

The Manufacturers Life Insurance Company bought a new position in shares of Stryker Corporation (NYSE:SYK) during the second quarter, HoldingsChannel reports. The fund bought 859,544 shares of the medical technology company’s stock, valued at approximately $270,642,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of SYK. Sankala Group LLC purchased a new position in Stryker during the 4th quarter worth $26,000. Godfrey Financial Associates Inc. purchased a new stake in shares of Stryker in the fourth quarter valued at about $26,000. United Financial Planning Group LLC acquired a new stake in shares of Stryker during the third quarter worth about $27,000. Atlas Capital Advisors Inc. purchased a new position in shares of Stryker during the fourth quarter worth about $27,000. Finally, Gables Capital Management Inc. purchased a new position in shares of Stryker during the second quarter worth about $25,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. JPMorgan Chase & Co. reduced their price objective on Stryker from $400.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. Citigroup reissued a “buy” rating on shares of Stryker in a research note on Thursday, August 13th. Wolfe Research downgraded shares of Stryker from an “outperform” rating to a “peer perform” rating in a research report on Thursday, August 13th. Canaccord Genuity Group reduced their target price on shares of Stryker from $435.00 to $400.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Finally, Argus set a $370.00 target price on shares of Stryker in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $386.28.

Insider Activity at Stryker

In related news, insider Debra King sold 826 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total transaction of $277,783.80. Following the sale, the insider owned 6,210 shares of the company’s stock, valued at approximately $2,088,423. The trade was a 11.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ronda E. Stryker sold 50,000 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $340.10, for a total transaction of $17,005,000.00. Following the transaction, the director owned 2,251,375 shares in the company, valued at $765,692,637.50. The trade was a 2.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 355,370 shares of company stock worth $119,447,201 over the last 90 days. Company insiders own 4.60% of the company’s stock.

Stryker Stock Down 0.5%

SYK opened at $327.80 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.16 and a quick ratio of 1.33. Stryker Corporation has a 12 month low of $281.00 and a 12 month high of $396.86. The stock has a market capitalization of $125.73 billion, a P/E ratio of 33.97, a P/E/G ratio of 2.10 and a beta of 0.76. The business has a 50 day simple moving average of $327.39 and a 200-day simple moving average of $332.16.

Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, July 30th. The medical technology company reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.20. The firm had revenue of $6.59 billion during 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%.Stryker’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.13 earnings per share. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. On average, equities analysts anticipate that Stryker Corporation will post 15.02 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be paid a $0.88 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $3.52 annualized dividend and a dividend yield of 1.1%. Stryker’s dividend payout ratio (DPR) is 36.48%.

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.