Caz Investments LP Continues to Hold Position in Stryker Corp. (SYK)
Caz Investments LP maintained its position in shares of Stryker Corp. (NYSE:SYK) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,530 shares of the medical technology company’s stock at the end of the second quarter. Stryker Corp. comprises about 1.9% of Caz Investments LP’s holdings, making the stock its 8th largest position. Caz Investments LP’s holdings in Stryker Corp. were worth $1,741,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Carroll Financial Associates Inc. increased its position in Stryker Corp. by 78.0% in the second quarter. Carroll Financial Associates Inc. now owns 1,086 shares of the medical technology company’s stock worth $130,000 after buying an additional 476 shares in the last quarter. CWM LLC purchased a new position in Stryker Corp. during the second quarter worth approximately $150,000. Lau Associates LLC purchased a new position in Stryker Corp. during the second quarter worth approximately $204,000. Brightworth purchased a new position in Stryker Corp. during the second quarter worth approximately $211,000. Finally, Leavell Investment Management Inc. purchased a new position in Stryker Corp. during the second quarter worth approximately $250,000. 75.49% of the stock is owned by hedge funds and other institutional investors.
Shares of Stryker Corp. (NYSE:SYK) traded up 0.03% during mid-day trading on Monday, hitting $116.45. The stock had a trading volume of 805,103 shares. The stock has a market capitalization of $43.59 billion, a price-to-earnings ratio of 27.45 and a beta of 0.72. The stock’s 50-day moving average price is $114.75 and its 200-day moving average price is $113.41. Stryker Corp. has a 12-month low of $86.68 and a 12-month high of $123.55.
Stryker Corp. (NYSE:SYK) last issued its earnings results on Thursday, July 21st. The medical technology company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.37 by $0.02. The company earned $2.84 billion during the quarter, compared to analysts’ expectations of $2.79 billion. Stryker Corp. had a net margin of 15.33% and a return on equity of 23.61%. On average, equities analysts anticipate that Stryker Corp. will post $5.76 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Wednesday, September 28th. Stryker Corp.’s payout ratio is 35.85%.
A number of research analysts have commented on the company. Zacks Investment Research downgraded Stryker Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, September 27th. Brean Capital reaffirmed a “buy” rating and set a $125.00 target price (up previously from $121.00) on shares of Stryker Corp. in a report on Monday, July 25th. Jefferies Group reaffirmed a “hold” rating and set a $120.00 target price (up previously from $113.00) on shares of Stryker Corp. in a report on Monday, July 25th. Canaccord Genuity reaffirmed a “buy” rating and set a $130.00 target price on shares of Stryker Corp. in a report on Sunday, July 24th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Stryker Corp. in a report on Sunday, July 24th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Stryker Corp. currently has a consensus rating of “Hold” and an average price target of $114.91.
In other Stryker Corp. news, Director Ronda E. Stryker sold 12,000 shares of the company’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $120.64, for a total transaction of $1,447,680.00. Following the completion of the sale, the director now owns 193,142 shares in the company, valued at approximately $23,300,650.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Katherine Ann Owen sold 6,674 shares of the company’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $121.21, for a total transaction of $808,955.54. Following the sale, the vice president now owns 10,753 shares of the company’s stock, valued at approximately $1,303,371.13. The disclosure for this sale can be found here. Company insiders own 7.80% of the company’s stock.
About Stryker Corp.
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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