Cabot Wellington LLC Decreases Stake in Stryker Corporation (SYK)
Cabot Wellington LLC decreased its stake in Stryker Corporation (NYSE:SYK) by 3.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,711 shares of the medical technology company’s stock after selling 3,000 shares during the period. Stryker Corporation makes up 6.4% of Cabot Wellington LLC’s investment portfolio, making the stock its 6th largest position. Cabot Wellington LLC’s holdings in Stryker Corporation were worth $10,843,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Stryker Corporation by 2,526.4% in the first quarter. BlackRock Inc. now owns 21,976,771 shares of the medical technology company’s stock valued at $2,893,242,000 after buying an additional 21,140,000 shares during the period. Vanguard Group Inc. boosted its stake in shares of Stryker Corporation by 5.2% in the first quarter. Vanguard Group Inc. now owns 23,421,053 shares of the medical technology company’s stock valued at $3,083,382,000 after buying an additional 1,161,688 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Stryker Corporation by 41.9% in the first quarter. PNC Financial Services Group Inc. now owns 1,403,420 shares of the medical technology company’s stock valued at $184,759,000 after buying an additional 414,715 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Stryker Corporation by 600.6% in the first quarter. SG Americas Securities LLC now owns 412,340 shares of the medical technology company’s stock valued at $54,285,000 after buying an additional 353,486 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of Stryker Corporation by 17.9% in the first quarter. Morgan Stanley now owns 2,144,472 shares of the medical technology company’s stock valued at $282,320,000 after buying an additional 325,661 shares in the last quarter. Institutional investors own 73.99% of the company’s stock.
Stryker Corporation (NYSE:SYK) traded down 0.4668% during midday trading on Tuesday, reaching $146.0451. 79,383 shares of the company’s stock traded hands. Stryker Corporation has a 52-week low of $106.48 and a 52-week high of $148.84. The firm has a market cap of $54.63 billion, a PE ratio of 32.5994 and a beta of 0.80. The firm’s 50-day moving average is $142.77 and its 200 day moving average is $134.44.
Stryker Corporation (NYSE:SYK) last issued its earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.39 earnings per share. Equities research analysts expect that Stryker Corporation will post $6.50 earnings per share for the current fiscal 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 of this dividend is Thursday, September 28th. This represents a $1.70 annualized dividend and a yield of 1.16%. Stryker Corporation’s dividend payout ratio (DPR) is presently 37.95%.
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Several analysts recently weighed in on the stock. BMO Capital Markets reissued a “hold” rating and issued a $125.00 price objective on shares of Stryker Corporation in a research note on Tuesday, April 11th. Stifel Nicolaus boosted their price objective on shares of Stryker Corporation from $151.00 to $158.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. BidaskClub cut shares of Stryker Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Stryker Corporation in a research note on Tuesday, May 16th. They issued a “neutral” rating and a $129.00 price objective on the stock. Finally, Cowen and Company set a $150.00 price objective on shares of Stryker Corporation and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company. Stryker Corporation has an average rating of “Hold” and an average target price of $144.03.
In other Stryker Corporation news, insider Lonny J. Carpenter sold 5,000 shares of Stryker Corporation stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $146.36, for a total value of $731,800.00. Following the completion of the transaction, the insider now directly owns 88,207 shares of the company’s stock, valued at $12,909,976.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David Floyd sold 19,305 shares of Stryker Corporation stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $144.56, for a total transaction of $2,790,730.80. The disclosure for this sale can be found here. Insiders sold 31,686 shares of company stock valued at $4,590,562 over the last ninety days. Corporate insiders own 7.40% of the company’s stock.
Stryker Corporation Company Profile
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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