First National Trust Co. Raises Stake in Stryker Corp. (SYK)
First National Trust Co. increased its stake in shares of Stryker Corp. (NYSE:SYK) by 7.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,349 shares of the medical technology company’s stock after buying an additional 515 shares during the period. First National Trust Co.’s holdings in Stryker Corp. were worth $881,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. 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 valued at $130,000 after buying an additional 476 shares during the period. CWM LLC acquired a new position in Stryker Corp. during the second quarter valued at $150,000. Lau Associates LLC acquired a new position in Stryker Corp. during the second quarter valued at $204,000. Brightworth acquired a new position in Stryker Corp. during the second quarter valued at $211,000. Finally, Leavell Investment Management Inc. acquired a new position in Stryker Corp. during the second quarter valued at $250,000. Institutional investors and hedge funds own 75.49% of the company’s stock.
Shares of Stryker Corp. (NYSE:SYK) traded down 0.16% during mid-day trading on Tuesday, hitting $116.26. The company had a trading volume of 1,074,069 shares. The firm’s 50 day moving average is $114.81 and its 200-day moving average is $113.71. Stryker Corp. has a 12-month low of $86.68 and a 12-month high of $123.55. The firm has a market cap of $43.52 billion, a PE ratio of 27.41 and a beta of 0.72.
Stryker Corp. (NYSE:SYK) last announced its quarterly earnings results on Thursday, July 21st. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.02. Stryker Corp. had a return on equity of 23.61% and a net margin of 15.33%. The company earned $2.84 billion during the quarter, compared to analysts’ expectations of $2.79 billion. On average, equities analysts expect that Stryker Corp. will post $5.76 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be given a $0.38 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.31%. Stryker Corp.’s dividend payout ratio is currently 35.85%.
Several research firms recently weighed in on SYK. Canaccord Genuity reiterated a “buy” rating and set a $130.00 target price on shares of Stryker Corp. in a research report on Sunday, July 24th. JPMorgan Chase & Co. reiterated a “hold” rating and set a $119.00 target price on shares of Stryker Corp. in a research report on Friday, July 22nd. Piper Jaffray Cos. increased their target price on Stryker Corp. from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, July 22nd. Credit Suisse Group AG reiterated an “outperform” rating and set a $124.00 target price (up from $110.00) on shares of Stryker Corp. in a research report on Tuesday, July 19th. Finally, Jefferies Group restated a “hold” rating and issued a $120.00 price objective (up from $113.00) on shares of Stryker Corp. in a report on Monday, July 25th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $114.91.
In related news, Director Ronda E. Stryker sold 18,000 shares of the business’s stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $117.56, for a total transaction of $2,116,080.00. Following the completion of the transaction, the director now owns 193,142 shares of the company’s stock, valued at approximately $22,705,773.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Howard E. Cox, Jr. sold 9,448 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $117.02, for a total value of $1,105,604.96. Following the transaction, the director now directly owns 554,732 shares of the company’s stock, valued at approximately $64,914,738.64. The disclosure for this sale can be found here. 7.80% of the stock is owned by company 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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