CI Investments Inc. Buys 8,043 Shares of Stryker Corporation $SYK

CI Investments Inc. increased its stake in shares of Stryker Corporation (NYSE:SYK) by 6.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 139,310 shares of the medical technology company’s stock after acquiring an additional 8,043 shares during the period. CI Investments Inc.’s holdings in Stryker were worth $45,776,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Godfrey Financial Associates Inc. bought a new position in shares of Stryker in the fourth quarter valued at approximately $26,000. Sankala Group LLC bought a new stake in shares of Stryker during the 4th quarter worth $26,000. United Financial Planning Group LLC acquired a new position in Stryker in the 3rd quarter valued at $27,000. Atlas Capital Advisors Inc. bought a new position in Stryker in the 4th quarter worth $27,000. Finally, DJE Kapital AG bought a new position in Stryker in the 4th quarter worth $28,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Trading Down 1.6%

Stryker stock opened at $313.89 on Wednesday. The business has a 50 day moving average price of $313.79 and a two-hundred day moving average price of $336.20. 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 Corporation has a 12 month low of $281.00 and a 12 month high of $404.87. The stock has a market cap of $120.33 billion, a price-to-earnings ratio of 36.33, a price-to-earnings-growth ratio of 2.04 and a beta of 0.77.

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

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 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 Tuesday, June 30th. Stryker’s payout ratio is 40.74%.

Analyst Ratings Changes

A number of research firms have issued reports on SYK. Wall Street Zen cut shares of Stryker from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. JPMorgan Chase & Co. cut their price objective on Stryker from $445.00 to $400.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Wells Fargo & Company dropped their price target on Stryker from $456.00 to $418.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Leerink Partners cut their price target on Stryker from $410.00 to $407.00 and set an “outperform” rating for the company in a report on Friday, June 5th. Finally, Sanford C. Bernstein set a $410.00 price objective on shares of Stryker in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $392.52.

Insider Activity

In other Stryker news, VP M Kathryn Fink sold 3,500 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $283.45, for a total transaction of $992,075.00. Following the completion of the transaction, the vice president owned 177 shares in the company, valued at $50,170.65. This trade represents a 95.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 value of $96,791,300.00. Following the sale, the director directly owned 1,924,880 shares in the company, valued at $601,005,282.40. The trade was a 13.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 323,264 shares of company stock worth $100,659,489. 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.