Neuberger Berman Group LLC Decreases Holdings in Stryker Corporation (NYSE:SYK)

Key Points

• Neuberger Berman Group LLC has reduced its stake in Stryker Corporation by 2.9%, selling 13,769 shares to hold a total of 466,719 shares valued at approximately $173.8 million.
• Stryker recently reported earnings of $3.13 per share for the latest quarter, exceeding analyst expectations, with a revenue of $6.02 billion, showing an 11.1% increase year-over-year.
• The company declared a quarterly dividend of $0.84 per share, representing an annualized rate of $3.36 and a dividend yield of 0.9%, with a payout ratio of 44.50%.

Neuberger Berman Group LLC reduced its stake in Stryker Corporation (NYSE:SYK - Free Report) by 2.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 466,719 shares of the medical technology company's stock after selling 13,769 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.12% of Stryker worth $173,775,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital A Wealth Management LLC bought a new position in Stryker in the 4th quarter valued at $26,000. Goodman Advisory Group LLC bought a new position in Stryker in the 1st quarter valued at $32,000. City Holding Co. grew its stake in Stryker by 528.6% in the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after purchasing an additional 74 shares during the period. Smallwood Wealth Investment Management LLC bought a new position in Stryker in the 1st quarter valued at $40,000. Finally, Itau Unibanco Holding S.A. bought a new position in Stryker in the 4th quarter valued at $42,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the sale, the director owned 3,222,108 shares of the company's stock, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Truist Financial set a $415.00 price objective on Stryker and gave the company a "hold" rating in a research note on Monday, August 4th. Roth Mkm upped their price objective on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. BTIG Research reiterated a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Finally, Sanford C. Bernstein set a $450.00 price target on Stryker in a research note on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $430.10.

Stryker Price Performance

SYK traded down $0.41 during trading on Thursday, reaching $378.54. 1,622,546 shares of the company were exchanged, compared to its average volume of 1,332,014. The company's 50-day moving average is $386.82 and its two-hundred day moving average is $379.68. The company has a market cap of $144.72 billion, a price-to-earnings ratio of 50.14, a P/E/G ratio of 2.75 and a beta of 0.91. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%. The business had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. During the same quarter in the prior year, the firm posted $2.81 EPS. The firm's quarterly revenue was up 11.1% on a year-over-year basis. Research analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. Stryker's dividend payout ratio (DPR) is presently 44.50%.

Stryker Company Profile

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.