Investment House LLC Cuts Stake in Stryker Corporation (SYK)
Investment House LLC cut its position in Stryker Corporation (NYSE:SYK) by 0.1% during the second quarter, Holdings Channel reports. The institutional investor owned 40,736 shares of the medical technology company’s stock after selling 45 shares during the period. Investment House LLC’s holdings in Stryker Corporation were worth $5,653,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the company. Bollard Group LLC boosted its stake in shares of 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 period. Baystate Wealth Management LLC boosted its stake in shares of 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 period. James Investment Research Inc. acquired a new stake in shares of Stryker Corporation during the second quarter worth about $155,000. Guardian Life Insurance Co. of America boosted its stake in shares of 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 period. Finally, Assetmark Inc. boosted its stake in shares of 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 period. 73.99% of the stock is owned by institutional investors and hedge funds.
Shares of Stryker Corporation (NYSE SYK) remained flat at $146.53 on Monday. The stock had a trading volume of 164,997 shares. The firm’s 50-day moving average price is $142.76 and its 200-day moving average price is $134.44. The firm has a market capitalization of $54.81 billion, a price-to-earnings ratio of 32.71 and a beta of 0.80. Stryker Corporation has a one year low of $106.48 and a one year high of $148.84.
Stryker Corporation (NYSE:SYK) last released its quarterly earnings data on Thursday, July 27th. The medical technology company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.98 billion. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.39 earnings per share. Equities analysts anticipate that Stryker Corporation will post $6.50 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be issued a $0.425 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.70 dividend on an annualized basis and a yield of 1.16%. Stryker Corporation’s dividend payout ratio is presently 37.95%.
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A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Stryker Corporation from a “hold” rating to a “buy” rating and set a $166.00 price objective for the company in a research note on Tuesday, August 1st. BidaskClub lowered shares of Stryker Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Cowen and Company reiterated a “buy” rating and set a $160.00 price target (up from $150.00) on shares of Stryker Corporation in a report on Sunday, July 30th. Stifel Nicolaus upped their price target on shares of Stryker Corporation from $151.00 to $158.00 and gave the company a “buy” rating in a report on Friday, July 28th. Finally, Oppenheimer Holdings, Inc. set a $148.00 price target on shares of Stryker Corporation and gave the company a “hold” rating in a report on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $144.03.
In other Stryker Corporation news, insider David Floyd sold 19,305 shares of the business’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $144.56, for a total value of $2,790,730.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 7.40% of the company’s stock.
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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