12,712 Shares in Stryker Corporation $SYK Acquired by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. bought a new position in shares of Stryker Corporation (NYSE:SYK) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,712 shares of the medical technology company’s stock, valued at approximately $3,501,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Amundi lifted its holdings in shares of Stryker by 18.3% in the second quarter. Amundi now owns 1,246,353 shares of the medical technology company’s stock valued at $392,402,000 after buying an additional 192,447 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Stryker by 8.2% during the second quarter. The Manufacturers Life Insurance Company now owns 859,544 shares of the medical technology company’s stock worth $270,642,000 after acquiring an additional 65,333 shares during the period. Veritas Asset Management LLP bought a new stake in Stryker in the second quarter worth about $168,057,000. Bank of America Corp DE bought a new stake in Stryker in the second quarter worth about $1,404,284,000. Finally, Rakuten Investment Management Inc. bought a new stake in Stryker in the second quarter worth about $18,646,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SYK has been the subject of several research reports. Evercore set a $350.00 price objective on shares of Stryker in a research report on Monday, July 6th. Royal Bank Of Canada dropped their target price 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. BMO Capital Markets reissued an “outperform” rating and set a $317.00 target price on shares of Stryker in a research note on Wednesday, September 9th. Weiss Ratings restated a “hold (c)” rating on shares of Stryker in a report on Friday, July 31st. Finally, UBS Group assumed coverage on shares of Stryker in a research report on Tuesday, July 28th. They issued a “buy” rating and a $400.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $369.00.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 300,000 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $335.90, for a total transaction of $100,770,000.00. Following the sale, the director directly owned 2,301,375 shares of the company’s stock, valued at $773,031,862.50. The trade was a 11.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dylan Crotty sold 441 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $328.61, for a total value of $144,917.01. Following the completion of the sale, the insider owned 6,102 shares of the company’s stock, valued at $2,005,178.22. The trade was a 6.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 351,267 shares of company stock valued at $118,197,701. Company insiders own 4.60% of the company’s stock.

Stryker Price Performance

NYSE SYK opened at $307.41 on Friday. The stock’s 50-day moving average price is $295.86 and its two-hundred day moving average price is $311.96. The company has a current ratio of 2.16, a quick ratio of 1.33 and a debt-to-equity ratio of 0.59. The company has a market cap of $117.91 billion, a PE ratio of 31.86, a PEG ratio of 1.92 and a beta of 0.78. Stryker Corporation has a 1 year low of $267.00 and a 1 year high of $389.33.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, July 30th. The medical technology company reported $3.69 EPS for the quarter, topping the consensus estimate of $3.49 by $0.20. The company had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $6.58 billion. Stryker had a net margin of 14.43% and a return on equity of 23.63%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the company posted $3.13 earnings per share. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. On average, analysts predict that Stryker Corporation will post 14.93 EPS for the current year.

Stryker Announces Dividend

The company 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 of this dividend is Wednesday, September 30th. This represents a $3.52 dividend on an annualized basis and a yield of 1.1%. Stryker’s dividend payout ratio (DPR) is currently 36.48%.

Stryker Profile

Stryker Corporation (NYSE: SYK) is a global medical technology company that develops and manufactures products used by healthcare providers in hospitals, surgical centers and other clinical settings. Its offerings are designed to support orthopaedic procedures, surgery, emergency care, neurovascular treatment and patient handling.

The company’s product portfolio includes orthopaedic implants and instruments, products for trauma and spine procedures, surgical equipment, endoscopy systems, patient beds and stretchers, emergency medical equipment, and neurovascular devices used in the treatment of conditions such as stroke.