Suncoast Equity Management Cuts Stock Holdings in Stryker Corporation $SYK

Suncoast Equity Management lessened its stake in Stryker Corporation (NYSE:SYK) by 8.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 105,926 shares of the medical technology company’s stock after selling 10,261 shares during the quarter. Stryker comprises approximately 4.2% of Suncoast Equity Management’s holdings, making the stock its 11th biggest holding. Suncoast Equity Management’s holdings in Stryker were worth $33,350,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Varma Mutual Pension Insurance Co grew its stake in Stryker by 10.5% during the fourth quarter. Varma Mutual Pension Insurance Co now owns 53,610 shares of the medical technology company’s stock worth $18,842,000 after buying an additional 5,100 shares during the period. QRG Capital Management Inc. raised its stake in shares of Stryker by 7.4% in the 4th quarter. QRG Capital Management Inc. now owns 60,548 shares of the medical technology company’s stock valued at $21,281,000 after acquiring an additional 4,186 shares during the period. Swedbank AB lifted its holdings in shares of Stryker by 6.6% during the 4th quarter. Swedbank AB now owns 129,027 shares of the medical technology company’s stock valued at $45,349,000 after acquiring an additional 7,934 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of Stryker by 31.1% during the 4th quarter. Crossmark Global Holdings Inc. now owns 26,820 shares of the medical technology company’s stock valued at $9,426,000 after acquiring an additional 6,367 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in Stryker by 6.5% during the 1st quarter. Royal Bank of Canada now owns 3,273,232 shares of the medical technology company’s stock worth $1,075,552,000 after purchasing an additional 199,863 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on SYK shares. BTIG Research cut their price objective on Stryker from $371.00 to $358.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. Leerink Partners decreased their target price on Stryker from $410.00 to $407.00 and set an “outperform” rating for the company in a research report on Friday, June 5th. Truist Financial increased their target price on Stryker from $330.00 to $340.00 and gave the company a “hold” rating in a research note on Friday, July 31st. Canaccord Genuity Group lowered their target price on Stryker from $435.00 to $400.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Finally, Sanford C. Bernstein set a $410.00 target price on Stryker in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $386.28.

Insider Buying and Selling

In other 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 completion of the sale, the vice president owned 10,582 shares of the company’s stock, valued at approximately $3,247,298.34. This trade represents a 30.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 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 completion of 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 disclosure for this sale is available in the SEC filing. Corporate insiders own 4.60% of the company’s stock.

Stryker Stock Down 0.7%

Shares of Stryker stock opened at $338.80 on Friday. The business has a 50-day moving average of $324.61 and a 200-day moving average of $333.57. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.16 and a quick ratio of 1.33. The company has a market capitalization of $129.95 billion, a PE ratio of 35.11, a P/E/G ratio of 2.17 and a beta of 0.76. Stryker Corporation has a 1-year low of $281.00 and a 1-year high of $396.86.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, July 30th. The medical technology company reported $3.69 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $6.58 billion. During the same period in the previous year, the company earned $3.13 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. As a group, equities analysts forecast that Stryker Corporation will post 15.02 EPS for the current fiscal year.

Stryker Announces Dividend

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

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.