Westpac Banking Corp Lowers Stock Holdings in Stryker Corporation $SYK

Westpac Banking Corp reduced its stake in Stryker Corporation (NYSE:SYK) by 14.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,533 shares of the medical technology company’s stock after selling 1,736 shares during the quarter. Westpac Banking Corp’s holdings in Stryker were worth $3,461,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SYK. Saturna Capital Corp increased its position in Stryker by 15.8% during the 1st quarter. Saturna Capital Corp now owns 367,413 shares of the medical technology company’s stock valued at $120,728,000 after buying an additional 50,229 shares in the last quarter. Danica Pension Livsforsikringsaktieselskab bought a new stake in Stryker in the first quarter worth $3,356,000. ABN Amro Investment Solutions boosted its holdings in Stryker by 1.7% in the first quarter. ABN Amro Investment Solutions now owns 203,567 shares of the medical technology company’s stock worth $66,890,000 after acquiring an additional 3,387 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Stryker by 8.8% in the first quarter. PNC Financial Services Group Inc. now owns 1,085,580 shares of the medical technology company’s stock worth $356,711,000 after acquiring an additional 88,122 shares during the last quarter. Finally, Oslo Pensjonsforsikring AS purchased a new stake in shares of Stryker in the first quarter worth $247,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Trading Down 1.6%

NYSE:SYK opened at $313.89 on Wednesday. The company has a current ratio of 2.11, a quick ratio of 1.25 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 company has a market cap of $120.33 billion, a PE ratio of 36.33, a price-to-earnings-growth ratio of 2.04 and a beta of 0.77. The company has a 50 day simple moving average of $313.79 and a two-hundred day simple moving average of $336.20.

Stryker (NYSE:SYK) last released 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 the consensus estimate of $6.34 billion. Stryker had a net margin of 13.20% and a return on equity of 23.42%. Stryker’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.84 earnings per share. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. Research analysts forecast that Stryker Corporation will post 14.99 earnings per share for the current year.

Stryker Dividend Announcement

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

Insiders Place Their Bets

In other news, VP Robert S. Fletcher sold 4,544 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $306.87, for a total value of $1,394,417.28. Following the transaction, the vice president owned 10,582 shares in the company, valued at $3,247,298.34. This represents a 30.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP M Kathryn Fink sold 5,220 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $283.85, for a total transaction of $1,481,697.00. Following the completion of the transaction, the vice president owned 13,137 shares in the company, valued at $3,728,937.45. This trade represents a 28.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 323,264 shares of company stock valued at $100,659,489. Insiders own 4.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SYK shares. Deutsche Bank Aktiengesellschaft set a $315.00 price target on Stryker in a research report on Friday, May 1st. Barclays cut their price objective on shares of Stryker from $469.00 to $394.00 and set an “overweight” rating on the stock in a research report on Monday, May 4th. Truist Financial restated a “hold” rating and set a $330.00 price objective (down from $380.00) on shares of Stryker in a research note on Monday, May 4th. BTIG Research set a $371.00 target price on shares of Stryker in a report on Monday, July 13th. Finally, Wells Fargo & Company dropped their target price on shares of Stryker from $456.00 to $418.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $392.52.

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.