Henderson Group PLC Reduces Stake in Stryker Corp. (SYK)
Henderson Group PLC lowered its stake in shares of Stryker Corp. (NYSE:SYK) by 9.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,004 shares of the medical technology company’s stock after selling 4,049 shares during the period. Henderson Group PLC’s holdings in Stryker Corp. were worth $4,553,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Carroll Financial Associates Inc. raised 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 last quarter. CWM LLC acquired a new position in Stryker Corp. during the second quarter valued at about $150,000. Lau Associates LLC acquired a new position in Stryker Corp. during the second quarter valued at about $204,000. Brightworth acquired a new position in Stryker Corp. during the second quarter valued at about $211,000. Finally, Leavell Investment Management Inc. acquired a new position in Stryker Corp. during the second quarter valued at about $250,000. Hedge funds and other institutional investors own 75.50% of the company’s stock.
Shares of Stryker Corp. (NYSE:SYK) traded up 1.09% during mid-day trading on Tuesday, reaching $114.81. 677,644 shares of the company’s stock traded hands. The company’s 50 day moving average is $115.19 and its 200 day moving average is $114.26. The company has a market cap of $42.97 billion, a P/E ratio of 27.07 and a beta of 0.72. Stryker Corp. has a 12-month low of $86.68 and a 12-month high of $123.55.
Stryker Corp. (NYSE:SYK) last posted its quarterly earnings results on Thursday, July 21st. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.02. The business 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, analysts predict that Stryker Corp. will post $5.76 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be paid 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 1.32%. Stryker Corp.’s payout ratio is currently 35.85%.
Several equities analysts have recently issued reports on SYK shares. SunTrust Banks Inc. started coverage on shares of Stryker Corp. in a report on Thursday, October 13th. They set a “buy” rating and a $140.00 target price for the company. Zacks Investment Research upgraded shares of Stryker Corp. from a “hold” rating to a “buy” rating and set a $130.00 target price for the company in a report on Tuesday, June 21st. Brean Capital reissued a “buy” rating and set a $125.00 price target (up previously from $121.00) on shares of Stryker Corp. in a research report on Monday, July 25th. Canaccord Genuity reissued a “buy” rating and set a $130.00 price target on shares of Stryker Corp. in a research report on Sunday, July 24th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Stryker Corp. in a research report on Sunday, July 24th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $117.91.
In other news, Director Ronda E. Stryker sold 18,000 shares of the stock in a transaction on Monday, September 26th. The shares were sold at an average price of $117.56, for a total value of $2,116,080.00. Following the sale, the director now owns 193,142 shares in the company, valued at $22,705,773.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 12,000 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $116.68, for a total transaction of $1,400,160.00. Following the completion of the sale, the director now owns 193,142 shares in the company, valued at approximately $22,535,808.56. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by 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.
Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Corp. (NYSE:SYK).
Receive News & Ratings for Stryker Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stryker Corp. and related companies with MarketBeat.com's FREE daily email newsletter.