Assetmark Inc. Boosts Holdings in Stryker Corporation $SYK

Assetmark Inc. boosted its stake in Stryker Corporation (NYSE:SYK) by 791.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 35,693 shares of the medical technology company’s stock after buying an additional 31,687 shares during the quarter. Assetmark Inc.’s holdings in Stryker were worth $11,728,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SYK. Angeles Wealth Management LLC lifted its position in Stryker by 4.0% during the first quarter. Angeles Wealth Management LLC now owns 1,986 shares of the medical technology company’s stock valued at $654,000 after buying an additional 77 shares during the period. Bessemer Group Inc. raised its holdings in shares of Stryker by 13.0% during the first quarter. Bessemer Group Inc. now owns 12,985 shares of the medical technology company’s stock valued at $4,267,000 after purchasing an additional 1,495 shares during the last quarter. Avalon Trust Co raised its holdings in shares of Stryker by 20,080.0% during the first quarter. Avalon Trust Co now owns 60,540 shares of the medical technology company’s stock valued at $19,893,000 after purchasing an additional 60,240 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Stryker by 4.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 16,040 shares of the medical technology company’s stock valued at $5,284,000 after purchasing an additional 632 shares during the period. Finally, Independent Financial Group LLC purchased a new stake in Stryker in the first quarter worth approximately $732,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

SYK has been the subject of a number of research reports. Needham & Company LLC decreased their target price on shares of Stryker from $454.00 to $418.00 and set a “buy” rating for the company in a research note on Friday, May 1st. The Goldman Sachs Group reiterated a “neutral” rating and set a $361.00 price objective on shares of Stryker in a research report on Friday, May 1st. Barclays lowered their target price on Stryker from $469.00 to $394.00 and set an “overweight” rating on the stock in a report on Monday, May 4th. Evercore set a $350.00 target price on Stryker in a research report on Monday, July 6th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $392.52.

Stryker Stock Down 0.3%

NYSE SYK opened at $318.80 on Tuesday. Stryker Corporation has a 52 week low of $281.00 and a 52 week high of $404.87. The company has a market capitalization of $122.22 billion, a P/E ratio of 36.90, a price-to-earnings-growth ratio of 2.05 and a beta of 0.77. The stock’s 50-day moving average price is $313.41 and its 200-day moving average price is $336.46. The company has a quick ratio of 1.25, a current ratio of 2.11 and a debt-to-equity ratio of 0.62.

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

Stryker Dividend Announcement

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

Insider Buying and Selling

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 owned 1,924,880 shares of the company’s stock, valued at approximately $601,005,282.40. This trade represents a 13.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert S. Fletcher sold 4,544 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $306.87, for a total value of $1,394,417.28. Following the completion of the transaction, the vice president owned 10,582 shares of the company’s stock, valued at $3,247,298.34. The trade was a 30.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 323,264 shares of company stock worth $100,659,489. 4.60% of the stock is 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.