First Merchants Corp Has $3,362,000 Position in Stryker Corp. (SYK)
First Merchants Corp increased its position in Stryker Corp. (NYSE:SYK) by 1.4% during the second quarter, Holdings Channel reports. The fund owned 28,061 shares of the medical technology company’s stock after buying an additional 396 shares during the period. Stryker Corp. accounts for approximately 1.1% of First Merchants Corp’s portfolio, making the stock its 28th largest position. First Merchants Corp’s holdings in Stryker Corp. were worth $3,362,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of SYK. Lazard Asset Management LLC bought a new position in shares of Stryker Corp. during the first quarter worth approximately $272,490,000. Wellington Management Group LLP increased its position in shares of Stryker Corp. by 10.0% in the first quarter. Wellington Management Group LLP now owns 5,509,234 shares of the medical technology company’s stock worth $591,086,000 after buying an additional 499,015 shares during the last quarter. NN Investment Partners Holdings N.V. increased its position in shares of Stryker Corp. by 3,088.1% in the second quarter. NN Investment Partners Holdings N.V. now owns 492,717 shares of the medical technology company’s stock worth $59,041,000 after buying an additional 477,262 shares during the last quarter. Fundsmith LLP increased its position in shares of Stryker Corp. by 12.7% in the first quarter. Fundsmith LLP now owns 3,605,529 shares of the medical technology company’s stock worth $386,837,000 after buying an additional 407,066 shares during the last quarter. Finally, BlackRock Fund Advisors increased its position in shares of Stryker Corp. by 5.6% in the first quarter. BlackRock Fund Advisors now owns 5,228,868 shares of the medical technology company’s stock worth $561,005,000 after buying an additional 279,074 shares during the last quarter. Hedge funds and other institutional investors own 75.49% of the company’s stock.
Shares of Stryker Corp. (NYSE:SYK) traded up 1.72% on Thursday, reaching $118.44. The company’s stock had a trading volume of 1,965,328 shares. The company’s 50 day moving average is $114.46 and its 200-day moving average is $112.85. The stock has a market cap of $44.33 billion, a PE ratio of 27.92 and a beta of 0.71. Stryker Corp. has a 1-year low of $86.68 and a 1-year high of $123.55.
Stryker Corp. (NYSE:SYK) last issued its quarterly earnings results on Thursday, July 21st. The medical technology company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.02. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.79 billion. Stryker Corp. had a return on equity of 23.61% and a net margin of 15.33%. On average, equities analysts predict that Stryker Corp. will post $5.76 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.28%. Stryker Corp.’s dividend payout ratio (DPR) is 35.85%.
SYK has been the subject of a number of recent research reports. Needham & Company LLC restated a “hold” rating on shares of Stryker Corp. in a research note on Sunday, July 24th. Guggenheim started coverage on Stryker Corp. in a research note on Wednesday, June 8th. They issued a “buy” rating and a $134.00 price target for the company. Piper Jaffray Cos. increased their price target on Stryker Corp. from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, July 22nd. Zacks Investment Research raised Stryker Corp. from a “hold” rating to a “buy” rating and set a $130.00 price target for the company in a research note on Tuesday, June 21st. Finally, Brean Capital reissued a “buy” rating and issued a $125.00 price target (up previously from $121.00) on shares of Stryker Corp. in a research note on Monday, July 25th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $114.91.
In related news, Director Ronda E. Stryker sold 6,000 shares of Stryker Corp. stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $115.03, for a total value of $690,180.00. Following the sale, the director now owns 193,142 shares of the company’s stock, valued at $22,217,124.26. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Howard E. Cox, Jr. sold 9,448 shares of Stryker Corp. stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $117.02, for a total value of $1,105,604.96. Following the completion of the sale, the director now directly owns 554,732 shares in the company, valued at approximately $64,914,738.64. The disclosure for this sale can be found here. 7.80% of the stock is owned by insiders.
Stryker Corp. Company Profile
Stryker Corporation (Stryker) is a medical technology company. The Company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Company’s Orthopaedics segment products consist of implants used in hip and knee joint replacements and trauma and surgeries. The Company’s MedSurg segment products consist of surgical equipment and surgical navigation systems (Instruments); endoscopic and communications systems (Endoscopy); patient handling and emergency medical equipment (Medical), and reprocessed and remanufactured medical devices (Sustainability), as well as other medical device products used in a range of medical specialties.
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