Hendley & Co. Inc. Trims Holdings in Stryker Corporation $SYK

Hendley & Co. Inc. cut its stake in Stryker Corporation (NYSE:SYK) by 12.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,288 shares of the medical technology company’s stock after selling 2,046 shares during the quarter. Stryker comprises about 1.8% of Hendley & Co. Inc.’s holdings, making the stock its 21st largest position. Hendley & Co. Inc.’s holdings in Stryker were worth $5,022,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Stryker by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 33,907,291 shares of the medical technology company’s stock valued at $11,917,396,000 after purchasing an additional 133,892 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Stryker by 13.3% in the third quarter. Alliancebernstein L.P. now owns 6,338,050 shares of the medical technology company’s stock valued at $2,342,987,000 after purchasing an additional 741,542 shares in the last quarter. Legal & General Group Plc grew its position in shares of Stryker by 4.4% in the third quarter. Legal & General Group Plc now owns 2,303,290 shares of the medical technology company’s stock valued at $851,457,000 after purchasing an additional 96,662 shares in the last quarter. Corient Private Wealth LLC grew its position in shares of Stryker by 104.4% in the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock valued at $887,525,000 after purchasing an additional 1,146,998 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Stryker by 4.5% in the third quarter. Invesco Ltd. now owns 1,864,918 shares of the medical technology company’s stock valued at $689,404,000 after purchasing an additional 80,536 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Stryker

In other Stryker news, VP M Kathryn Fink sold 3,500 shares of Stryker stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $283.45, for a total transaction of $992,075.00. Following the completion of the sale, the vice president owned 177 shares of the company’s stock, valued at $50,170.65. The trade was a 95.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.60% of the stock is currently owned by company insiders.

Stryker Trading Up 0.4%

Shares of SYK stock opened at $306.74 on Friday. The company has a quick ratio of 1.25, a current ratio of 2.11 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average price of $329.68 and a two-hundred day moving average price of $351.73. Stryker Corporation has a 12-month low of $281.00 and a 12-month high of $404.87. The firm has a market cap of $117.59 billion, a P/E ratio of 35.50, a price-to-earnings-growth ratio of 1.93 and a beta of 0.80.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, April 30th. The medical technology company reported $2.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.38). Stryker had a return on equity of 23.42% and a net margin of 13.20%.The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.34 billion. During the same period last year, the firm earned $2.84 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. Equities analysts anticipate that Stryker Corporation will post 14.98 EPS for the current fiscal year.

Stryker Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on SYK. Wall Street Zen cut Stryker from a “buy” rating to a “hold” rating in a research report on Saturday. TD Cowen lowered Stryker from a “buy” rating to a “hold” rating and set a $387.00 price objective for the company. in a research note on Monday, January 26th. Piper Sandler reissued an “overweight” rating on shares of Stryker in a research note on Tuesday, January 27th. Truist Financial reissued 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. Finally, Sanford C. Bernstein set a $410.00 price objective on Stryker in a research note on Friday, May 1st. Sixteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $395.48.

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.