Stryker Corp. (SYK) Stake Reduced by Rock Point Advisors LLC
Rock Point Advisors LLC reduced its position in shares of Stryker Corp. (NYSE:SYK) by 21.7% during the second quarter, Holdings Channel reports. The institutional investor owned 40,069 shares of the medical technology company’s stock after selling 11,091 shares during the period. Stryker Corp. comprises approximately 2.6% of Rock Point Advisors LLC’s portfolio, making the stock its 14th largest position. Rock Point Advisors LLC’s holdings in Stryker Corp. were worth $4,801,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of SYK. Tealwood Asset Management Inc. raised its stake in Stryker Corp. by 0.8% in the second quarter. Tealwood Asset Management Inc. now owns 18,695 shares of the medical technology company’s stock worth $2,240,000 after buying an additional 150 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in Stryker Corp. by 0.6% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 8,539 shares of the medical technology company’s stock worth $1,023,000 after buying an additional 55 shares in the last quarter. LMR Partners LLP purchased a new stake in Stryker Corp. during the second quarter worth approximately $1,129,000. Premier Fund Managers Ltd raised its stake in Stryker Corp. by 19.6% in the second quarter. Premier Fund Managers Ltd now owns 28,700 shares of the medical technology company’s stock worth $3,409,000 after buying an additional 4,700 shares in the last quarter. Finally, Huntington National Bank raised its stake in Stryker Corp. by 36.4% in the second quarter. Huntington National Bank now owns 158,939 shares of the medical technology company’s stock worth $19,046,000 after buying an additional 42,423 shares in the last quarter. 75.50% of the stock is currently owned by institutional investors.
Stryker Corp. (NYSE:SYK) traded down 0.07% during trading on Monday, hitting $113.57. 721,669 shares of the stock traded hands. Stryker Corp. has a 52-week low of $86.68 and a 52-week high of $123.55. The firm has a 50-day moving average price of $115.20 and a 200 day moving average price of $114.25. The company has a market cap of $42.51 billion, a P/E ratio of 26.77 and a beta of 0.72.
Stryker Corp. (NYSE:SYK) last announced its earnings results on Thursday, July 21st. The medical technology company reported $1.39 EPS for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.02. Stryker Corp. had a net margin of 15.33% and a return on equity of 23.61%. The firm had revenue of $2.84 billion for 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 company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Wednesday, September 28th. Stryker Corp.’s payout ratio is 35.85%.
A number of equities research analysts have recently commented on the stock. SunTrust Banks Inc. assumed coverage on shares of Stryker Corp. in a research note on Thursday. They issued a “buy” rating and a $140.00 price objective on the stock. Zacks Investment Research lowered shares of Stryker Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, September 27th. Brean Capital reissued a “buy” rating and set a $125.00 target price (up from $121.00) on shares of Stryker Corp. in a research note on Monday, July 25th. Jefferies Group reissued a “hold” rating and set a $120.00 target price (up from $113.00) on shares of Stryker Corp. in a research note on Monday, July 25th. Finally, Canaccord Genuity reissued a “buy” rating and set a $130.00 target price on shares of Stryker Corp. in a research note on Sunday, July 24th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $117.91.
In related news, Director Ronda E. Stryker sold 12,000 shares of the company’s stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $122.11, for a total value of $1,465,320.00. Following the transaction, the director now owns 193,142 shares in the company, valued at approximately $23,584,569.62. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 18,000 shares of the company’s stock in a transaction dated Tuesday, October 11th. The stock was sold at an average price of $116.41, for a total transaction of $2,095,380.00. Following the completion of the transaction, the director now owns 193,142 shares in the company, valued at approximately $22,483,660.22. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by corporate insiders.
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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