Jennison Associates LLC Acquires New Holdings in Stryker Corporation $SYK

Jennison Associates LLC bought a new position in Stryker Corporation (NYSE:SYK) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 323,435 shares of the medical technology company’s stock, valued at approximately $101,830,000.

A number of other large investors have also added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Stryker during the 4th quarter valued at $1,822,272,000. Auto Owners Insurance Co boosted its stake in shares of Stryker by 35,047.0% in the 4th quarter. Auto Owners Insurance Co now owns 2,914,741 shares of the medical technology company’s stock worth $1,024,444,000 after buying an additional 2,906,448 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Stryker by 22.6% in the fourth quarter. Wellington Management Group LLP now owns 6,493,276 shares of the medical technology company’s stock worth $2,282,192,000 after acquiring an additional 1,198,665 shares during the period. Corient Private Wealth LLC grew its holdings in shares of Stryker by 104.4% in the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock worth $887,525,000 after acquiring an additional 1,146,998 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in Stryker by 241.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,555,638 shares of the medical technology company’s stock valued at $511,167,000 after acquiring an additional 1,100,673 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SYK. Argus set a $370.00 target price on Stryker in a report on Thursday, July 9th. Leerink Partners cut their price target on Stryker from $410.00 to $407.00 and set an “outperform” rating for the company in a research note on Friday, June 5th. Wolfe Research lowered shares of Stryker from an “outperform” rating to a “peer perform” rating in a research report on Thursday. BMO Capital Markets initiated coverage on shares of Stryker in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $369.00 price objective on the stock. Finally, Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $386.28.

Insider Transactions at Stryker

In other Stryker news, VP Robert S. Fletcher sold 4,544 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $306.87, for a total transaction of $1,394,417.28. Following the sale, the vice president owned 10,582 shares in the company, valued at approximately $3,247,298.34. This trade represents a 30.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ronda E. Stryker sold 310,000 shares of Stryker stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $312.23, for a total transaction of $96,791,300.00. Following the transaction, the director directly owned 1,924,880 shares in the company, valued at $601,005,282.40. This represents a 13.87% decrease in their position. The SEC filing for this sale provides additional information. 4.60% of the stock is owned by insiders.

Stryker Trading Down 0.7%

NYSE:SYK opened at $338.80 on Friday. Stryker Corporation has a one year low of $281.00 and a one year high of $396.86. The business has a fifty day moving average price of $324.61 and a 200-day moving average price of $333.57. The firm has a market capitalization of $129.95 billion, a price-to-earnings ratio of 35.11, a price-to-earnings-growth ratio of 2.17 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.16 and a quick ratio of 1.33.

Stryker (NYSE:SYK) last released 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. Stryker had a return on equity of 23.63% and a net margin of 14.43%.The company had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.58 billion. During the same period in the previous year, the business earned $3.13 earnings per share. Stryker’s quarterly revenue was up 9.4% compared to the same quarter last year. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. Sell-side analysts forecast that Stryker Corporation will post 15.02 EPS for the current year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Stryker’s payout ratio is presently 36.48%.

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.