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

Parnassus Investments LLC increased its holdings in Stryker Corporation (NYSE:SYK) by 23.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,947,575 shares of the medical technology company’s stock after buying an additional 366,059 shares during the quarter. Stryker comprises approximately 1.8% of Parnassus Investments LLC’s portfolio, making the stock its 23rd largest holding. Parnassus Investments LLC’s holdings in Stryker were worth $684,514,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SYK. Godfrey Financial Associates Inc. acquired a new position in Stryker in the fourth quarter worth about $26,000. United Financial Planning Group LLC acquired a new position in Stryker in the third quarter worth about $27,000. CGC Financial Services LLC acquired a new position in Stryker in the fourth quarter worth about $29,000. Strive Asset Management LLC acquired a new position in Stryker in the third quarter worth about $30,000. Finally, ANTIPODES PARTNERS Ltd acquired a new position in Stryker in the third quarter worth about $34,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 310,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director directly owned 1,924,880 shares of the company’s stock, valued at approximately $601,005,282.40. This trade represents a 13.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP M Kathryn Fink sold 5,220 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $283.85, for a total transaction of $1,481,697.00. Following the completion of the transaction, the vice president directly owned 13,137 shares in the company, valued at approximately $3,728,937.45. The trade was a 28.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 323,264 shares of company stock valued at $100,659,489. 4.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SYK. Truist Financial reaffirmed a “hold” rating and set a $330.00 price objective (down from $380.00) on shares of Stryker in a report on Monday, May 4th. Canaccord Genuity Group dropped their price objective on shares of Stryker from $435.00 to $400.00 and set a “buy” rating for the company in a report on Friday, May 1st. Evercore set a $355.00 price objective on shares of Stryker in a report on Friday, May 1st. Barclays dropped their price objective on shares of Stryker from $469.00 to $394.00 and set an “overweight” rating for the company in a report on Monday, May 4th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $361.00 price objective on shares of Stryker in a report on Friday, May 1st. Sixteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Stryker has an average rating of “Moderate Buy” and an average target price of $395.33.

Stryker Price Performance

SYK opened at $305.82 on Friday. Stryker Corporation has a one year low of $281.00 and a one year high of $404.87. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.11 and a quick ratio of 1.25. The company’s 50 day simple moving average is $316.75 and its 200-day simple moving average is $344.20. The stock has a market capitalization of $117.24 billion, a P/E 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 EPS for the quarter, missing the consensus estimate 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 period last year, the company earned $2.84 earnings per share. Stryker’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. Sell-side analysts anticipate that Stryker Corporation will post 14.98 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.52 dividend on an annualized basis and a yield of 1.2%. Stryker’s dividend payout ratio (DPR) is presently 40.74%.

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.