Northwestern Mutual Wealth Management Co. Trims Stake in Stryker Co. (SYK)

Northwestern Mutual Wealth Management Co. lessened its holdings in shares of Stryker Co. (NYSE:SYK) by 23.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,892 shares of the medical technology company’s stock after selling 2,728 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Stryker were worth $1,580,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of SYK. Fundsmith Equity Fund L.P. acquired a new stake in shares of Stryker during the second quarter worth about $931,542,000. FMR LLC lifted its position in shares of Stryker by 24.0% during the second quarter. FMR LLC now owns 5,327,862 shares of the medical technology company’s stock worth $899,662,000 after purchasing an additional 1,032,333 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of Stryker by 1,061.0% during the second quarter. Point72 Asset Management L.P. now owns 951,528 shares of the medical technology company’s stock worth $160,675,000 after purchasing an additional 869,568 shares in the last quarter. BlackRock Inc. lifted its position in shares of Stryker by 2.7% during the second quarter. BlackRock Inc. now owns 24,551,677 shares of the medical technology company’s stock worth $4,145,795,000 after purchasing an additional 646,505 shares in the last quarter. Finally, Royal London Asset Management Ltd. acquired a new stake in shares of Stryker during the second quarter worth about $46,952,000. 74.71% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have recently issued reports on SYK shares. Needham & Company LLC reissued a “hold” rating on shares of Stryker in a research report on Tuesday, September 11th. Oppenheimer set a $170.00 price target on shares of Stryker and gave the stock a “hold” rating in a research report on Friday. Canaccord Genuity reissued a “buy” rating and set a $185.00 price target on shares of Stryker in a research report on Wednesday, July 25th. Royal Bank of Canada reissued a “buy” rating and set a $184.00 price target on shares of Stryker in a research report on Wednesday, July 25th. Finally, Zacks Investment Research cut shares of Stryker from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Seven analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $181.81.

In other Stryker news, CFO Glenn S. Boehnlein sold 750 shares of the stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $178.17, for a total value of $133,627.50. Following the transaction, the chief financial officer now directly owns 2,785 shares in the company, valued at $496,203.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Katherine Ann Owen sold 37,866 shares of the stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $166.84, for a total transaction of $6,317,563.44. Following the completion of the transaction, the vice president now owns 11,367 shares in the company, valued at $1,896,470.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,031 shares of company stock worth $6,520,313. 7.40% of the stock is owned by corporate insiders.

Shares of NYSE:SYK opened at $171.25 on Friday. The company has a market capitalization of $62.39 billion, a P/E ratio of 26.39, a PEG ratio of 2.29 and a beta of 0.64. Stryker Co. has a fifty-two week low of $146.80 and a fifty-two week high of $179.84. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.21 and a current ratio of 1.91.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, October 25th. The medical technology company reported $1.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.01. The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Stryker had a net margin of 9.31% and a return on equity of 28.00%. As a group, analysts predict that Stryker Co. will post 7.28 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Investors of record on Friday, September 28th were issued a $0.47 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $1.88 annualized dividend and a yield of 1.10%. Stryker’s dividend payout ratio (DPR) is 28.97%.

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About Stryker

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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