859,544 Shares in Stryker Corporation $SYK Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new position in shares of Stryker Corporation (NYSE:SYK) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 859,544 shares of the medical technology company’s stock, valued at approximately $270,642,000. The Manufacturers Life Insurance Company owned approximately 0.22% of Stryker as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Stryker during the fourth quarter worth $1,822,272,000. Auto Owners Insurance Co boosted its holdings in Stryker by 35,047.0% in the fourth quarter. Auto Owners Insurance Co now owns 2,914,741 shares of the medical technology company’s stock valued at $1,024,444,000 after purchasing an additional 2,906,448 shares during the period. Flossbach Von Storch SE purchased a new position in Stryker in the second quarter valued at $464,506,000. Wellington Management Group LLP grew its stake in Stryker by 22.6% during the 4th quarter. Wellington Management Group LLP now owns 6,493,276 shares of the medical technology company’s stock worth $2,282,192,000 after purchasing an additional 1,198,665 shares in the last quarter. Finally, Corient Private Wealth LLC increased its holdings in Stryker by 104.4% during the 2nd quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock worth $887,525,000 after purchasing an additional 1,146,998 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

SYK has been the topic of a number of analyst reports. Needham & Company LLC reduced their price target on Stryker from $454.00 to $418.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. JPMorgan Chase & Co. cut their target price on shares of Stryker from $400.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Raymond James Financial set a $370.00 price target on shares of Stryker in a research note on Friday, July 31st. Finally, Canaccord Genuity Group lowered their price target on shares of Stryker from $435.00 to $400.00 and set a “buy” rating for the company in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $386.28.

Stryker Stock Down 0.5%

Shares of NYSE SYK opened at $327.80 on Tuesday. The business has a 50-day moving average of $327.39 and a two-hundred day moving average of $332.16. The company has a market capitalization of $125.73 billion, a price-to-earnings ratio of 33.97, a price-to-earnings-growth ratio of 2.10 and a beta of 0.76. Stryker Corporation has a 1 year low of $281.00 and a 1 year high of $396.86. 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 quarterly earnings data on Thursday, July 30th. The medical technology company reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $0.20. Stryker had a return on equity of 23.63% and a net margin of 14.43%.The business had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.58 billion. During the same quarter in the prior year, the business posted $3.13 EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. On average, analysts forecast that Stryker Corporation will post 15.02 earnings per share for the current fiscal 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 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, September 30th. Stryker’s payout ratio is currently 36.48%.

Insider Activity

In related 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 value of $100,770,000.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Debra King sold 826 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total transaction of $277,783.80. Following the completion of the transaction, the insider owned 6,210 shares of the company’s stock, valued at $2,088,423. This represents a 11.74% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 355,370 shares of company stock worth $119,447,201. Corporate insiders own 4.60% of the company’s stock.

Stryker 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.