The Manufacturers Life Insurance Company Purchases 88,423 Shares of Stryker Corporation $SYK

by · The Markets Daily

The Manufacturers Life Insurance Company lifted its position in shares of Stryker Corporation (NYSE:SYK – Free Report) by 7.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,271,247 shares of the medical technology company’s stock after acquiring an additional 88,423 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.33% of Stryker worth $502,941,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Sand Hill Global Advisors LLC lifted its stake in Stryker by 1.8% during the second quarter. Sand Hill Global Advisors LLC now owns 23,888 shares of the medical technology company’s stock worth $9,451,000 after purchasing an additional 430 shares during the last quarter. Becker Capital Management Inc. raised its holdings in shares of Stryker by 0.6% during the 2nd quarter. Becker Capital Management Inc. now owns 4,657 shares of the medical technology company’s stock worth $1,846,000 after buying an additional 30 shares in the last quarter. Investment House LLC lifted its position in shares of Stryker by 0.5% during the 2nd quarter. Investment House LLC now owns 40,242 shares of the medical technology company’s stock worth $15,921,000 after buying an additional 196 shares during the last quarter. Sei Investments Co. boosted its stake in Stryker by 5.4% in the second quarter. Sei Investments Co. now owns 419,979 shares of the medical technology company’s stock valued at $166,161,000 after buying an additional 21,497 shares in the last quarter. Finally, Nebula Research & Development LLC acquired a new stake in Stryker in the second quarter valued at about $219,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SYK has been the subject of a number of research reports. Needham & Company LLC reissued a “buy” rating and issued a $448.00 target price on shares of Stryker in a report on Friday, November 14th. UBS Group set a $408.00 price target on Stryker in a research note on Monday, October 13th. Redburn Partners set a $420.00 price objective on Stryker in a research report on Thursday, September 18th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $435.00 target price on shares of Stryker in a research report on Friday, November 14th. Finally, BTIG Research reiterated a “buy” rating and set a $410.00 target price on shares of Stryker in a research report on Friday, November 14th. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $433.78.

Check Out Our Latest Stock Analysis on SYK

Stryker Price Performance

Shares of SYK opened at $353.84 on Thursday. The business has a 50-day moving average of $367.42 and a 200-day moving average of $378.84. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.85 and a quick ratio of 1.13. The company has a market capitalization of $135.32 billion, a price-to-earnings ratio of 46.50, a price-to-earnings-growth ratio of 2.47 and a beta of 0.89. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19.

Stryker (NYSE:SYK – Get Free Report) last announced its earnings results on Thursday, October 30th. The medical technology company reported $3.19 EPS for the quarter, beating the consensus estimate of $3.13 by $0.06. The business had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $6.04 billion. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The firm’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.87 earnings per share. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. As a group, equities research analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Insider Activity

In other news, Director Ronda E. Stryker sold 276,173 shares of the stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the completion of the sale, the director directly owned 2,702,108 shares in the company, valued at $954,600,714.24. This represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO William E. Berry, Jr. sold 1,953 shares of Stryker stock in a transaction on Friday, November 14th. The stock was sold at an average price of $365.49, for a total transaction of $713,801.97. Following the transaction, the chief accounting officer directly owned 2,833 shares of the company’s stock, valued at $1,035,433.17. This represents a 40.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 522,118 shares of company stock valued at $185,381,932. 5.90% of the stock is currently owned by insiders.

About Stryker

(Free Report)

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.

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