Northwestern Mutual Wealth Management Co. Lowers Position in Stryker Corporation $SYK

Key Points

• Northwestern Mutual Wealth Management Co. cut its Stryker stake by 30.2% in the fourth quarter, selling 17,241 shares and ending with 39,910 shares valued at about $14.0 million.
• Stryker reported weaker-than-expected Q1 earnings, with EPS of $2.60 versus the $2.98 consensus and revenue of $6.02 billion versus estimates of $6.34 billion, even though revenue still rose 2.6% year over year.
• The company announced a quarterly dividend of $0.88 per share, payable July 31, while analysts remain generally positive with a consensus rating of Moderate Buy and an average price target of $395.48.

Northwestern Mutual Wealth Management Co. reduced its stake in Stryker Corporation (NYSE:SYK - Free Report) by 30.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,910 shares of the medical technology company's stock after selling 17,241 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Stryker were worth $14,027,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased 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 last quarter. Geode Capital Management LLC raised its holdings in shares of Stryker by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 7,535,572 shares of the medical technology company's stock valued at $2,636,238,000 after buying an additional 69,851 shares during the period. Alliancebernstein L.P. lifted its stake in 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 in the last quarter. Legal & General Group Plc boosted its holdings in Stryker by 2.7% during the 4th quarter. Legal & General Group Plc now owns 2,366,107 shares of the medical technology company's stock valued at $831,616,000 after acquiring an additional 62,817 shares during the period. Finally, Corient Private Wealth LLC grew its position in Stryker by 104.4% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Stock Down 1.9%

Shares of NYSE SYK opened at $299.15 on Tuesday. The business has a 50-day moving average of $321.00 and a two-hundred day moving average of $347.64. The company has a market capitalization of $114.68 billion, a price-to-earnings ratio of 34.62, a price-to-earnings-growth ratio of 1.92 and a beta of 0.80. Stryker Corporation has a 1 year low of $281.00 and a 1 year high of $404.87. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.11 and a quick ratio of 1.25.

Stryker (NYSE:SYK - Get Free Report) last issued its 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 company had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.34 billion. During the same quarter in the previous year, the company posted $2.84 EPS. The company'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, analysts forecast that Stryker Corporation will post 14.98 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, June 30th. Stryker's payout ratio is presently 40.74%.

Analyst Ratings Changes

Several analysts have recently issued reports on SYK shares. JPMorgan Chase & Co. reduced their price target on shares of Stryker from $445.00 to $400.00 and set an "overweight" rating on the stock in a research report on Friday, May 1st. BTIG Research cut their target price 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. Sanford C. Bernstein set a $410.00 target price on shares of Stryker in a report on Friday, May 1st. Leerink Partners assumed coverage on shares of Stryker in a research report on Monday, April 13th. They issued an "outperform" rating and a $410.00 price target for the company. Finally, William Blair restated an "outperform" rating on shares of Stryker in a research note on Thursday, March 5th. Sixteen 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, the stock has a consensus rating of "Moderate Buy" and an average price target of $395.48.

Insider Activity

In other news, Director Ronda E. Stryker sold 310,000 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $312.23, for a total value of $96,791,300.00. Following the completion of the sale, the director directly owned 1,924,880 shares of the company's stock, valued at approximately $601,005,282.40. This represents a 13.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert S. Fletcher sold 4,544 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $306.87, for a total value of $1,394,417.28. Following the sale, the vice president directly owned 10,582 shares of the company's stock, valued at $3,247,298.34. The trade was a 30.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 323,264 shares of company stock valued at $100,659,489 in the last ninety days. 4.60% of the stock is currently owned by company insiders.

About Stryker

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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