1,500 Shares in Stryker Corporation (NYSE:SYK) Acquired by Bourne Lent Asset Management Inc.
Bourne Lent Asset Management Inc. bought a new position in Stryker Corporation (NYSE:SYK) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,500 shares of the medical technology company’s stock, valued at approximately $208,000.
Several other large investors have also added to or reduced their stakes in SYK. Bollard Group LLC raised its stake in Stryker Corporation by 0.4% in the first quarter. Bollard Group LLC now owns 829 shares of the medical technology company’s stock worth $109,000 after buying an additional 3 shares during the last quarter. Baystate Wealth Management LLC raised its stake in Stryker Corporation by 2.1% in the first quarter. Baystate Wealth Management LLC now owns 1,066 shares of the medical technology company’s stock worth $139,000 after buying an additional 22 shares during the last quarter. James Investment Research Inc. acquired a new stake in Stryker Corporation during the second quarter worth about $155,000. Guardian Life Insurance Co. of America raised its stake in Stryker Corporation by 0.8% in the first quarter. Guardian Life Insurance Co. of America now owns 1,199 shares of the medical technology company’s stock worth $158,000 after buying an additional 9 shares during the last quarter. Finally, Assetmark Inc. raised its stake in Stryker Corporation by 0.3% in the first quarter. Assetmark Inc. now owns 1,274 shares of the medical technology company’s stock worth $168,000 after buying an additional 4 shares during the last quarter. 74.07% of the stock is owned by institutional investors and hedge funds.
Stryker Corporation (SYK) traded down 0.12% on Friday, reaching $146.20. 210,520 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $142.76 and a 200-day moving average price of $134.44. Stryker Corporation has a 1-year low of $106.48 and a 1-year high of $148.84. The company has a market capitalization of $54.69 billion, a PE ratio of 32.63 and a beta of 0.80.
Stryker Corporation (NYSE:SYK) last issued its quarterly earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same period last year, the company earned $1.39 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities research analysts anticipate that Stryker Corporation will post $6.50 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Thursday, September 28th. Stryker Corporation’s payout ratio is 37.95%.
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A number of research firms have recently issued reports on SYK. BMO Capital Markets reaffirmed a “hold” rating and set a $125.00 target price on shares of Stryker Corporation in a report on Tuesday, April 11th. Stifel Nicolaus upped their target price on shares of Stryker Corporation from $151.00 to $158.00 and gave the stock a “buy” rating in a report on Friday, July 28th. BidaskClub lowered shares of Stryker Corporation from a “buy” rating to a “hold” rating in a report on Monday. Goldman Sachs Group, Inc. (The) began coverage on shares of Stryker Corporation in a report on Tuesday, May 16th. They set a “neutral” rating and a $129.00 target price for the company. Finally, Cowen and Company set a $150.00 target price on shares of Stryker Corporation and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $144.03.
In other Stryker Corporation news, insider David Floyd sold 19,305 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $144.56, for a total value of $2,790,730.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 7.40% of the stock is currently owned by company insiders.
About Stryker Corporation
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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