Altavista Wealth Management Inc. Has $4.92 Million Position in Stryker Corporation (SYK)
Altavista Wealth Management Inc. increased its stake in shares of Stryker Corporation (NYSE:SYK) by 0.9% during the first quarter, Holdings Channel reports. The fund owned 37,371 shares of the medical technology company’s stock after buying an additional 329 shares during the period. Stryker Corporation comprises approximately 2.5% of Altavista Wealth Management Inc.’s investment portfolio, making the stock its 10th largest position. Altavista Wealth Management Inc.’s holdings in Stryker Corporation were worth $4,920,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the stock. Bollard Group LLC raised its position 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 valued at $109,000 after buying an additional 3 shares during the last quarter. Baystate Wealth Management LLC raised its position 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 valued at $139,000 after buying an additional 22 shares during the last quarter. Guardian Life Insurance Co. of America raised its position 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 valued at $158,000 after buying an additional 9 shares during the last quarter. Assetmark Inc. raised its position 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 valued at $168,000 after buying an additional 4 shares during the last quarter. Finally, Daiwa SB Investments Ltd. bought a new position in shares of Stryker Corporation during the first quarter valued at $170,000. 73.99% of the stock is currently owned by institutional investors.
Shares of Stryker Corporation (NYSE:SYK) traded down 0.2396% during midday trading on Wednesday, reaching $145.7899. 191,825 shares of the company’s stock were exchanged. The company has a market cap of $54.53 billion, a P/E ratio of 32.5424 and a beta of 0.80. Stryker Corporation has a 12 month low of $106.48 and a 12 month high of $148.84. The firm has a 50 day moving average price of $143.16 and a 200 day moving average price of $134.68.
Stryker Corporation (NYSE:SYK) last announced 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 for the quarter, compared to analysts’ expectations of $2.98 billion. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $1.39 earnings per share. Equities research analysts forecast 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 given a $0.425 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.70 annualized dividend and a yield of 1.16%. Stryker Corporation’s payout ratio is 37.95%.
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Several equities analysts have 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 report on Tuesday, April 11th. Stifel Nicolaus increased their price objective on shares of Stryker Corporation from $151.00 to $158.00 and gave the company a “buy” rating in a research report on Friday, July 28th. BidaskClub lowered shares of Stryker Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Stryker Corporation in a research report 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 company an “outperform” rating in a research report on Wednesday, April 26th. Three 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’s stock. The company has an average rating of “Hold” and an average target price of $144.03.
In other 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Lonny J. Carpenter sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was 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 in the company, valued at approximately $12,909,976.52. The disclosure for this sale can be found here. Insiders sold 31,686 shares of company stock worth $4,590,562 over the last three months. 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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