Northwestern Mutual Wealth Management Co. Boosts Stake in Stryker Co. (NYSE:SYK)

Northwestern Mutual Wealth Management Co. grew its position in Stryker Co. (NYSE:SYK) by 19.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,704 shares of the medical technology company’s stock after purchasing an additional 7,879 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Stryker were worth $16,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. NewEdge Advisors LLC boosted its stake in Stryker by 36.1% during the second quarter. NewEdge Advisors LLC now owns 22,854 shares of the medical technology company’s stock valued at $7,776,000 after buying an additional 6,066 shares during the last quarter. Silver Lake Advisory LLC purchased a new stake in shares of Stryker in the second quarter valued at $296,000. Copperwynd Financial LLC lifted its stake in Stryker by 9.4% in the second quarter. Copperwynd Financial LLC now owns 2,271 shares of the medical technology company’s stock worth $744,000 after purchasing an additional 196 shares during the last quarter. Creative Planning boosted its holdings in Stryker by 0.9% during the 2nd quarter. Creative Planning now owns 79,875 shares of the medical technology company’s stock valued at $27,178,000 after acquiring an additional 716 shares during the period. Finally, Aviso Wealth Management purchased a new position in Stryker in the 2nd quarter worth about $203,000. Institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Needham & Company LLC upped their price objective on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Truist Financial decreased their price objective on shares of Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Evercore ISI reduced their price objective on Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research report on Monday, September 16th. Finally, Wolfe Research assumed coverage on shares of Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $378.58.

Stryker Trading Up 0.5 %

Shares of SYK stock opened at $361.26 on Tuesday. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $374.63. The firm’s 50 day moving average price is $348.29 and its two-hundred day moving average price is $343.00. The stock has a market cap of $137.62 billion, a price-to-earnings ratio of 41.24, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.79 by $0.02. The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The company’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the business posted $2.54 EPS. On average, analysts anticipate that Stryker Co. will post 12 EPS for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is currently 36.53%.

Insider Transactions at Stryker

In other news, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Viju Menon sold 600 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the sale, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the sale, the director now owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,068 shares of company stock valued at $71,811,372. 5.90% of the stock is currently owned by corporate insiders.

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.