3,613 Stryker Corporation $SYK Shares Sold by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. reduced its holdings in shares of Stryker Corporation (NYSE:SYK) by 7.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 42,038 shares of the medical technology company’s stock after selling 3,613 shares during the period. Stryker makes up approximately 0.8% of Penobscot Investment Management Company Inc.’s portfolio, making the stock its 29th largest position. Penobscot Investment Management Company Inc.’s holdings in Stryker were worth $11,577,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its holdings in Stryker by 1.2% during the second quarter. State Street Corp now owns 15,532,565 shares of the medical technology company’s stock worth $4,903,772,000 after purchasing an additional 183,400 shares during the last quarter. Wellington Management Group LLP grew its position in Stryker by 0.6% in the second quarter. Wellington Management Group LLP now owns 8,167,185 shares of the medical technology company’s stock valued at $2,571,357,000 after purchasing an additional 45,478 shares in the last quarter. Bank of America Corp DE acquired a new stake in Stryker in the 2nd quarter valued at $1,404,284,000. Royal Bank of Canada increased its stake in Stryker by 6.5% in the 1st quarter. Royal Bank of Canada now owns 3,273,232 shares of the medical technology company’s stock valued at $1,075,552,000 after buying an additional 199,863 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Stryker by 21.8% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,689,376 shares of the medical technology company’s stock valued at $846,723,000 after buying an additional 481,175 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Down 1.5%

Shares of Stryker stock opened at $301.59 on Wednesday. The business has a fifty day simple moving average of $294.70 and a two-hundred day simple moving average of $325.45. Stryker Corporation has a 1 year low of $267.00 and a 1 year high of $389.33.

Stryker (NYSE:SYK) last announced its quarterly earnings results 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. The company had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.58 billion. During the same quarter last year, the company posted $3.13 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. Sell-side analysts predict that Stryker Corporation will post 14.93 EPS for the current year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be paid a $0.88 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $3.52 annualized dividend and a yield of 1.2%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Royal Bank Of Canada cut their price target on shares of Stryker from $435.00 to $420.00 and set an “outperform” rating on the stock in a research report on Friday, July 31st. Wolfe Research cut Stryker from an “outperform” rating to a “peer perform” rating in a report on Thursday, August 13th. Evercore set a $350.00 target price on Stryker in a research report on Monday, July 6th. Piper Sandler reduced their price target on Stryker from $420.00 to $390.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. Finally, Argus set a $370.00 price target on Stryker in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $369.00.

Insider Activity at Stryker

In other news, insider Debra King sold 826 shares of Stryker stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $336.30, for a total transaction of $277,783.80. Following the completion of the sale, the insider owned 6,210 shares of the company’s stock, valued at approximately $2,088,423. This trade represents a 11.74% 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. Also, insider Dylan Crotty sold 441 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $328.61, for a total transaction of $144,917.01. Following the completion of the sale, the insider directly owned 6,102 shares of the company’s stock, valued at approximately $2,005,178.22. The trade was a 6.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 351,267 shares of company stock worth $118,197,701 in the last ninety days. 4.60% of the stock is owned by company insiders.

Stryker Profile

Stryker Corporation (NYSE: SYK) is a global medical technology company that develops and manufactures products used by healthcare providers in hospitals, surgical centers and other clinical settings. Its offerings are designed to support orthopaedic procedures, surgery, emergency care, neurovascular treatment and patient handling.

The company’s product portfolio includes orthopaedic implants and instruments, products for trauma and spine procedures, surgical equipment, endoscopy systems, patient beds and stretchers, emergency medical equipment, and neurovascular devices used in the treatment of conditions such as stroke.