Veritas Asset Management LLP Makes New Investment in Stryker Corporation $SYK

Veritas Asset Management LLP purchased a new stake in Stryker Corporation (NYSE:SYK) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 533,784 shares of the medical technology company’s stock, valued at approximately $168,057,000. Stryker accounts for about 3.1% of Veritas Asset Management LLP’s holdings, making the stock its 14th biggest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Amundi grew its stake in Stryker by 18.3% in the 2nd quarter. Amundi now owns 1,246,353 shares of the medical technology company’s stock valued at $392,402,000 after acquiring an additional 192,447 shares during the last quarter. Rakuten Investment Management Inc. purchased a new stake in Stryker in the 2nd quarter worth approximately $18,646,000. Royal Bank of Canada raised its holdings in Stryker by 6.5% in the 1st quarter. Royal Bank of Canada now owns 3,273,232 shares of the medical technology company’s stock valued at $1,075,552,000 after acquiring an additional 199,863 shares during the last quarter. Rathbones Group PLC lifted its stake in shares of Stryker by 647.9% during the 4th quarter. Rathbones Group PLC now owns 219,265 shares of the medical technology company’s stock worth $77,065,000 after purchasing an additional 189,948 shares during the period. Finally, Trust Point Inc. boosted its holdings in shares of Stryker by 681.9% during the second quarter. Trust Point Inc. now owns 13,480 shares of the medical technology company’s stock worth $4,244,000 after purchasing an additional 11,756 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Debra King sold 826 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total value of $277,783.80. Following the sale, the insider owned 6,210 shares in the company, valued at approximately $2,088,423. This represents a 11.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ronda Stryker sold 300,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $335.90, for a total value of $100,770,000.00. Following the transaction, the director directly owned 2,301,375 shares in the company, valued at approximately $773,031,862.50. This represents a 11.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 351,267 shares of company stock valued at $118,197,701 in the last ninety days. Corporate insiders own 4.60% of the company’s stock.

Stryker Stock Down 8.9%

NYSE:SYK traded down $26.97 during trading hours on Tuesday, hitting $276.16. The stock had a trading volume of 6,316,453 shares, compared to its average volume of 2,382,455. The company has a market cap of $105.93 billion, a PE ratio of 28.62, a price-to-earnings-growth ratio of 1.90 and a beta of 0.76. The business has a 50 day simple moving average of $327.52 and a two-hundred day simple moving average of $328.30. Stryker Corporation has a 1-year low of $275.10 and a 1-year high of $395.90. The company has a current ratio of 2.16, a quick ratio of 1.33 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, July 30th. The medical technology company reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.20. The business had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $6.58 billion. Stryker had a net margin of 14.43% and a return on equity of 23.63%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.13 earnings per share. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. Analysts predict that Stryker Corporation will post 15.03 EPS for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Wednesday, September 30th. Stryker’s dividend payout ratio is 36.48%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Argus set a $370.00 price target on Stryker in a research note on Thursday, July 9th. Citigroup reaffirmed a “buy” rating on shares of Stryker in a research report on Thursday, August 13th. Royal Bank Of Canada decreased their price target on shares of Stryker from $435.00 to $420.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Raymond James Financial set a $370.00 price objective on shares of Stryker in a research note on Friday, July 31st. Finally, Piper Sandler dropped their price objective on Stryker from $420.00 to $390.00 and set an “overweight” rating for the company in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and an average target price of $386.28.

Stryker Company 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.