Legato Capital Management LLC Cuts Stock Holdings in Stryker Corporation $SYK

Legato Capital Management LLC lowered its holdings in Stryker Corporation (NYSE:SYK) by 70.3% during the 4th quarter, Holdings Channel reports. The firm owned 2,580 shares of the medical technology company’s stock after selling 6,107 shares during the period. Legato Capital Management LLC’s holdings in Stryker were worth $907,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Advisory Alpha LLC boosted its position in Stryker by 4.0% in the fourth quarter. Advisory Alpha LLC now owns 3,481 shares of the medical technology company’s stock worth $1,224,000 after purchasing an additional 134 shares during the last quarter. Evoke Wealth LLC boosted its position in Stryker by 7.1% in the fourth quarter. Evoke Wealth LLC now owns 5,367 shares of the medical technology company’s stock worth $1,891,000 after purchasing an additional 355 shares during the last quarter. Keudell Morrison Wealth Management purchased a new position in Stryker in the fourth quarter worth $2,146,000. Wilian Securities LLC purchased a new position in Stryker in the fourth quarter worth $346,000. Finally, Ignite Planners LLC purchased a new position in Stryker in the fourth quarter worth $228,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wall Street Zen cut Stryker from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Evercore set a $355.00 price target on Stryker in a research report on Friday, May 1st. Citigroup dropped their price target on Stryker from $420.00 to $385.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Sanford C. Bernstein set a $410.00 price target on Stryker in a research report on Friday, May 1st. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Stryker in a research report on Tuesday, January 27th. Sixteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $395.48.

Stryker Stock Performance

NYSE:SYK opened at $316.39 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.25 and a current ratio of 2.11. Stryker Corporation has a 52-week low of $281.00 and a 52-week high of $404.87. The firm has a market cap of $121.29 billion, a price-to-earnings ratio of 36.62, a PEG ratio of 1.99 and a beta of 0.80. The business’s fifty day moving average is $324.80 and its 200 day moving average is $349.43.

Stryker (NYSE:SYK) last released its quarterly earnings data 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 company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.34 billion. During the same quarter in the previous year, the firm posted $2.84 earnings per share. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. Research analysts predict that Stryker Corporation will post 14.98 EPS for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 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 Tuesday, June 30th. Stryker’s payout ratio is presently 40.74%.

Insider Activity

In related news, VP M Kathryn Fink sold 3,500 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $283.45, for a total transaction of $992,075.00. Following the sale, the vice president directly owned 177 shares in the company, valued at approximately $50,170.65. The trade was a 95.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.60% of the company’s stock.

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.