Principal Financial Group Inc. Cuts Stock Position in Stryker Corporation $SYK

Principal Financial Group Inc. cut its position in Stryker Corporation (NYSE:SYK) by 8.1% in the first quarter, HoldingsChannel.com reports. The firm owned 508,019 shares of the medical technology company’s stock after selling 44,653 shares during the period. Principal Financial Group Inc.’s holdings in Stryker were worth $166,930,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Godfrey Financial Associates Inc. purchased a new stake in Stryker during the fourth quarter valued at approximately $26,000. Sankala Group LLC purchased a new position in Stryker in the fourth quarter worth $26,000. United Financial Planning Group LLC acquired a new position in shares of Stryker during the third quarter worth $27,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Stryker during the 4th quarter valued at $27,000. Finally, DJE Kapital AG purchased a new stake in shares of Stryker during the 4th quarter valued at $28,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SYK has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft set a $315.00 target price on Stryker in a research note on Friday, May 1st. BMO Capital Markets assumed coverage on Stryker in a report on Wednesday, July 8th. They issued an “outperform” rating and a $369.00 price target for the company. Evercore set a $350.00 price target on Stryker in a research note on Monday, July 6th. Canaccord Genuity Group cut their price objective on shares of Stryker from $435.00 to $400.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Finally, Wall Street Zen lowered shares of Stryker from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $392.52.

Stryker Stock Down 6.1%

Stryker stock opened at $311.27 on Wednesday. Stryker Corporation has a fifty-two week low of $281.00 and a fifty-two week high of $404.87. The company has a market cap of $119.33 billion, a PE ratio of 36.03, a PEG ratio of 2.12 and a beta of 0.77. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.25 and a current ratio of 2.11. The business’s 50-day simple moving average is $310.79 and its two-hundred day simple moving average is $337.37.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, April 30th. The medical technology company reported $2.60 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.38). Stryker had a net margin of 13.20% and a return on equity of 23.42%. The firm had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $6.34 billion. During the same quarter in the prior year, the company earned $2.84 EPS. Stryker’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. Equities analysts anticipate that Stryker Corporation will post 14.98 EPS for the current year.

Stryker Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Stryker’s dividend payout ratio is 40.74%.

Insider Activity

In other news, VP M Kathryn Fink sold 3,500 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $283.45, for a total value of $992,075.00. Following the sale, the vice president 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronda E. Stryker sold 310,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $312.23, for a total transaction of $96,791,300.00. Following the transaction, the director directly owned 1,924,880 shares of the company’s stock, valued at approximately $601,005,282.40. This trade represents a 13.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 323,264 shares of company stock valued at $100,659,489 in the last ninety days. Insiders own 4.60% of the company’s stock.

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.