Stryker Corp. (SYK) Position Lowered by Boston Private Wealth LLC
Boston Private Wealth LLC lowered its position in Stryker Corp. (NYSE:SYK) by 3.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 255,700 shares of the medical technology company’s stock after selling 8,474 shares during the period. Stryker Corp. accounts for about 1.3% of Boston Private Wealth LLC’s investment portfolio, making the stock its 13th largest position. Boston Private Wealth LLC’s holdings in Stryker Corp. were worth $30,641,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Carroll Financial Associates Inc. raised its stake in shares of 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 during the last quarter. CWM LLC bought a new stake in shares of Stryker Corp. during the second quarter worth approximately $150,000. Lau Associates LLC bought a new stake in shares of Stryker Corp. during the second quarter worth approximately $204,000. Brightworth bought a new stake in shares of Stryker Corp. during the second quarter worth approximately $211,000. Finally, Leavell Investment Management Inc. bought a new stake in shares of Stryker Corp. during the second quarter worth approximately $250,000. Institutional investors and hedge funds own 75.50% of the company’s stock.
Stryker Corp. (NYSE:SYK) traded down 0.26% on Wednesday, hitting $114.51. 220,331 shares of the company were exchanged. The company has a market capitalization of $42.86 billion, a price-to-earnings ratio of 26.99 and a beta of 0.72. Stryker Corp. has a 52 week low of $86.68 and a 52 week high of $123.55. The stock has a 50 day moving average of $115.16 and a 200 day moving average of $114.30.
Stryker Corp. (NYSE:SYK) last posted its quarterly earnings results on Thursday, July 21st. The medical technology company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.37 by $0.02. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.79 billion. Stryker Corp. had a net margin of 15.33% and a return on equity of 23.61%. Analysts predict that Stryker Corp. will post $5.76 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Wednesday, September 28th. Stryker Corp.’s dividend payout ratio (DPR) is presently 35.85%.
A number of research analysts have recently commented on SYK shares. SunTrust Banks Inc. started coverage on shares of Stryker Corp. in a research report on Thursday, October 13th. They issued a “buy” rating and a $140.00 price objective 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 research note on Tuesday, June 21st. Brean Capital restated a “buy” rating and set a $125.00 target price (up previously from $121.00) on shares of Stryker Corp. in a research note on Monday, July 25th. Canaccord Genuity restated a “buy” rating and set a $130.00 target price on shares of Stryker Corp. in a research note on Sunday, July 24th. Finally, Needham & Company LLC restated a “hold” rating on shares of Stryker Corp. in a research note on Sunday, July 24th. 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 company has an average rating of “Hold” and a consensus price target of $117.91.
In other news, Director Ronda E. Stryker sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $113.95, for a total value of $1,367,400.00. Following the transaction, the director now owns 193,142 shares in the company, valued at $22,008,530.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Howard E. Cox, Jr. sold 9,448 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $117.02, for a total transaction of $1,105,604.96. Following the completion of the transaction, the director now owns 554,732 shares in the company, valued at approximately $64,914,738.64. 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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