Flputnam Investment Management Co. Sells 24,345 Shares of Stryker Corporation $SYK

Key Points

• Flputnam Investment Management cut its Stryker stake by 22.7% in the fourth quarter, selling 24,345 shares and leaving it with 83,041 shares worth about $29.2 million.
• Stryker reported mixed quarterly results, with EPS of $2.60 and revenue of $6.02 billion both below analyst expectations, though revenue still rose 2.6% year over year.
• The company also announced a quarterly dividend of $0.88 per share, while analysts currently rate the stock a consensus Moderate Buy with an average price target of $395.48.

Flputnam Investment Management Co. trimmed its position in Stryker Corporation (NYSE:SYK - Free Report) by 22.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 83,041 shares of the medical technology company's stock after selling 24,345 shares during the period. Flputnam Investment Management Co.'s holdings in Stryker were worth $29,187,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Stryker by 0.4% in the 4th 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 during the period. Alliancebernstein L.P. lifted its holdings in shares of Stryker by 13.3% during the 3rd quarter. Alliancebernstein L.P. now owns 6,338,050 shares of the medical technology company's stock worth $2,342,987,000 after acquiring an additional 741,542 shares during the last quarter. Legal & General Group Plc grew its position in Stryker by 2.7% in 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 acquiring an additional 62,817 shares in the last quarter. Corient Private Wealth LLC increased its stake in 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 acquiring an additional 1,146,998 shares during the last quarter. Finally, Invesco Ltd. increased its stake in 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 acquiring an additional 80,536 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Stryker Stock Performance

NYSE SYK opened at $313.08 on Wednesday. The company has a 50-day simple moving average of $324.33 and a two-hundred day simple moving average of $349.12. 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 firm has a market cap of $120.02 billion, a price-to-earnings ratio of 36.24, a PEG ratio of 1.99 and a beta of 0.80.

Stryker (NYSE:SYK - Get Free Report) last posted 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 net margin of 13.20% and a return on equity of 23.42%. The business had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $6.34 billion. During the same quarter in the previous year, the company earned $2.84 earnings per share. The business's quarterly revenue was up 2.6% on a year-over-year basis. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. On average, equities analysts forecast that Stryker Corporation will post 14.98 EPS for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders 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 yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Stryker's dividend payout ratio is presently 40.74%.

Insider Transactions at Stryker

In other Stryker news, VP M Kathryn Fink sold 3,500 shares of the company'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 sale, the vice president directly owned 177 shares in the company, valued at $50,170.65. This represents a 95.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 4.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SYK shares. Canaccord Genuity Group dropped their price target on Stryker from $435.00 to $400.00 and set a "buy" rating for the company in a research note on Friday, May 1st. Weiss Ratings cut Stryker from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, May 4th. UBS Group dropped their target price on Stryker from $400.00 to $380.00 and set a "neutral" rating for the company in a research report on Tuesday, March 17th. Wells Fargo & Company cut their target price on Stryker from $456.00 to $418.00 and set an "overweight" rating for the company in a research note on Friday, May 1st. Finally, Robert W. Baird set a $385.00 price target on shares of Stryker in a research report on Friday, May 1st. Sixteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Stryker presently has a consensus rating of "Moderate Buy" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.