Westpac Banking Corp Reduces Stock Position in Stryker Corporation $SYK

Westpac Banking Corp trimmed its position in Stryker Corporation (NYSE:SYK) by 14.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,533 shares of the medical technology company’s stock after selling 1,736 shares during the quarter. Westpac Banking Corp’s holdings in Stryker were worth $3,461,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Saturna Capital Corp increased its holdings in shares of Stryker by 15.8% in the first quarter. Saturna Capital Corp now owns 367,413 shares of the medical technology company’s stock worth $120,728,000 after purchasing an additional 50,229 shares during the period. Danica Pension Livsforsikringsaktieselskab bought a new stake in Stryker during the first quarter valued at $3,356,000. ABN Amro Investment Solutions grew its position in Stryker by 1.7% during the first quarter. ABN Amro Investment Solutions now owns 203,567 shares of the medical technology company’s stock worth $66,890,000 after buying an additional 3,387 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Stryker by 8.8% during the first quarter. PNC Financial Services Group Inc. now owns 1,085,580 shares of the medical technology company’s stock worth $356,711,000 after buying an additional 88,122 shares in the last quarter. Finally, Oslo Pensjonsforsikring AS bought a new position in Stryker in the 1st quarter worth about $247,000. 77.09% of the stock is owned by institutional investors.

Stryker Price Performance

SYK stock opened at $313.89 on Wednesday. The stock has a market capitalization of $120.33 billion, a price-to-earnings ratio of 36.33, a PEG ratio of 2.04 and a beta of 0.77. The firm’s 50-day moving average price is $313.79 and its two-hundred day moving average price is $336.20. The company has a current ratio of 2.11, a quick ratio of 1.25 and a debt-to-equity ratio of 0.62. Stryker Corporation has a 12-month low of $281.00 and a 12-month high of $404.87.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, April 30th. The medical technology company reported $2.60 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.38). Stryker had a return on equity of 23.42% and a net margin of 13.20%.The firm had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $6.34 billion. During the same quarter in the prior year, the company posted $2.84 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. As a group, equities analysts predict that Stryker Corporation will post 14.99 earnings per share for the current year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be issued a $0.88 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $3.52 annualized dividend and a yield of 1.1%. Stryker’s dividend payout ratio (DPR) is 40.74%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SYK. Truist Financial reiterated a “hold” rating and set a $330.00 price target (down from $380.00) on shares of Stryker in a research report on Monday, May 4th. Leerink Partners decreased their price objective on shares of Stryker from $410.00 to $407.00 and set an “outperform” rating on the stock in a research report on Friday, June 5th. JPMorgan Chase & Co. lowered their target price on shares of Stryker from $445.00 to $400.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. Needham & Company LLC dropped their target price on shares of Stryker from $454.00 to $418.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Finally, Wells Fargo & Company decreased their price target on shares of Stryker from $456.00 to $418.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $392.52.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 310,000 shares of Stryker stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $312.23, for a total transaction of $96,791,300.00. Following the sale, the director directly owned 1,924,880 shares in the company, valued at $601,005,282.40. The trade was a 13.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP M Kathryn Fink sold 3,500 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $283.45, for a total value of $992,075.00. Following the completion of the transaction, the vice president owned 177 shares of the company’s stock, valued at approximately $50,170.65. This trade represents a 95.19% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 323,264 shares of company stock valued at $100,659,489. 4.60% of the stock is currently owned by corporate insiders.

About Stryker

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.