K.J. Harrison & Partners Inc Has $6.40 Million Position in Stryker Corporation $SYK

K.J. Harrison & Partners Inc reduced its holdings in Stryker Corporation (NYSE:SYK) by 21.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 16,185 shares of the medical technology company’s stock after selling 4,398 shares during the period. Stryker accounts for approximately 1.1% of K.J. Harrison & Partners Inc’s portfolio, making the stock its 24th largest position. K.J. Harrison & Partners Inc’s holdings in Stryker were worth $6,403,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in SYK. Nuveen LLC bought a new position in Stryker in the 1st quarter worth approximately $558,075,000. Price T Rowe Associates Inc. MD increased its position in Stryker by 9.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company’s stock worth $4,515,847,000 after buying an additional 1,021,496 shares during the period. Alliancebernstein L.P. increased its position in Stryker by 66.7% in the 1st quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company’s stock worth $511,152,000 after buying an additional 549,643 shares during the period. Vanguard Group Inc. increased its position in Stryker by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company’s stock worth $12,306,572,000 after buying an additional 361,136 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Stryker by 13.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company’s stock worth $838,640,000 after buying an additional 261,058 shares during the period. 77.09% of the stock is owned by institutional investors.

Stryker Price Performance

Shares of SYK stock opened at $356.15 on Monday. The stock’s fifty day moving average is $378.08 and its 200-day moving average is $381.04. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The stock has a market capitalization of $136.16 billion, a PE ratio of 47.17, a PEG ratio of 2.66 and a beta of 0.94. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, October 30th. The medical technology company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.13 by $0.06. The company had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $6.04 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.87 earnings per share. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. Equities research analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Tuesday, September 30th. Stryker’s dividend payout ratio is presently 44.15%.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the sale, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Viju Menon sold 500 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $390.61, for a total value of $195,305.00. Following the sale, the insider owned 12,511 shares in the company, valued at $4,886,921.71. The trade was a 3.84% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on SYK. Redburn Partners set a $420.00 price objective on Stryker in a research report on Thursday, September 18th. BTIG Research upped their target price on Stryker from $408.00 to $410.00 and gave the company a “buy” rating in a research note on Friday. Evercore ISI cut their target price on Stryker from $410.00 to $405.00 and set an “outperform” rating for the company in a research note on Friday. Wells Fargo & Company upped their target price on Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, UBS Group set a $408.00 target price on Stryker in a research note on Monday, October 13th. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $434.16.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.