Fisher Asset Management LLC Trims Position in Stryker Corporation $SYK

Key Points

• Fisher Asset Management trimmed its Stryker stake by 5.8% in the fourth quarter, selling 192,839 shares and leaving it with 3.12 million shares valued at about $1.10 billion.
• Stryker’s recent quarterly results missed expectations, with EPS of $2.60 versus $2.98 expected and revenue of $6.02 billion versus $6.34 billion expected, even though revenue still rose 2.6% year over year.
• Analysts remain generally positive but have become more cautious: the stock has a Moderate Buy consensus with an average price target of $395.48, while several firms recently lowered targets or downgraded ratings.

Fisher Asset Management LLC lowered its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 5.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,117,283 shares of the medical technology company's stock after selling 192,839 shares during the period. Fisher Asset Management LLC owned approximately 0.82% of Stryker worth $1,095,632,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Stryker by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 33,907,291 shares of the medical technology company's stock worth $11,917,396,000 after purchasing an additional 133,892 shares during the period. Alliancebernstein L.P. raised its stake in Stryker by 13.3% during the third quarter. Alliancebernstein L.P. now owns 6,338,050 shares of the medical technology company's stock worth $2,342,987,000 after purchasing an additional 741,542 shares during the period. Legal & General Group Plc raised its stake in Stryker by 2.7% during the fourth quarter. Legal & General Group Plc now owns 2,366,107 shares of the medical technology company's stock worth $831,616,000 after purchasing an additional 62,817 shares during the period. Corient Private Wealth LLC raised its stake in Stryker by 104.4% during the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company's stock worth $887,525,000 after purchasing an additional 1,146,998 shares during the period. Finally, Invesco Ltd. raised its stake in Stryker by 4.5% during the third quarter. Invesco Ltd. now owns 1,864,918 shares of the medical technology company's stock worth $689,404,000 after purchasing an additional 80,536 shares during the period. Hedge funds and other institutional investors own 77.09% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on SYK shares. UBS Group cut their price target on shares of Stryker from $400.00 to $380.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 17th. BTIG Research cut their price target on shares of Stryker from $397.00 to $379.00 and set a "buy" rating on the stock in a research note on Friday, May 1st. TD Cowen downgraded shares of Stryker from a "buy" rating to a "hold" rating and set a $387.00 price target on the stock. in a research note on Monday, January 26th. Canaccord Genuity Group cut their target price on shares of Stryker from $435.00 to $400.00 and set a "buy" rating on the stock in a research note on Friday, May 1st. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $361.00 target price on shares of Stryker in a research note on Friday, May 1st. Sixteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, Stryker currently has an average rating of "Moderate Buy" and a consensus price target of $395.48.

Stryker Stock Performance

Shares of SYK stock opened at $316.39 on Monday. The company's fifty day simple moving average is $325.22 and its 200-day simple moving average is $349.76. Stryker Corporation has a 52 week low of $281.00 and a 52 week high of $404.87. The company has a current ratio of 2.11, a quick ratio of 1.25 and a debt-to-equity ratio of 0.62. The company has a market cap of $121.29 billion, a PE ratio of 36.62, a P/E/G ratio of 1.99 and a beta of 0.80.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The medical technology company reported $2.60 earnings per share 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 analyst estimates of $6.34 billion. Stryker had a net margin of 13.20% and a return on equity of 23.42%. Stryker's revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.84 earnings per share. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. As a group, equities research analysts anticipate that Stryker Corporation will post 14.98 EPS for the current year.

Stryker Announces Dividend

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

Insiders Place Their Bets

In related news, VP M Kathryn Fink sold 3,500 shares of the firm's stock in a transaction on 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 sale, the vice president directly owned 177 shares of the company's stock, valued at approximately $50,170.65. This trade represents a 95.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.

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