Point72 Asset Management L.P. Has $23.28 Million Position in Stryker Corporation (SYK)
Point72 Asset Management L.P. reduced its position in shares of Stryker Corporation (NYSE:SYK) by 47.6% during the first quarter, Holdings Channel reports. The institutional investor owned 176,800 shares of the medical technology company’s stock after selling 160,800 shares during the period. Point72 Asset Management L.P.’s holdings in Stryker Corporation were worth $23,276,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of SYK. Bollard Group LLC raised its position 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 in 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 period. 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 valued at $158,000 after buying an additional 9 shares during the last quarter. 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 valued at $168,000 after buying an additional 4 shares during the last quarter. Finally, Daiwa SB Investments Ltd. acquired a new stake in Stryker Corporation during the first quarter valued at about $170,000. 73.99% of the stock is owned by institutional investors and hedge funds.
Shares of Stryker Corporation (NYSE SYK) traded down 0.47% on Thursday, hitting $144.50. 169,030 shares of the company’s stock traded hands. The company has a market cap of $54.05 billion, a price-to-earnings ratio of 32.25 and a beta of 0.80. The firm’s 50-day moving average price is $143.54 and its 200 day moving average price is $135.29. Stryker Corporation has a 1-year low of $106.48 and a 1-year high of $148.84.
Stryker Corporation (NYSE:SYK) last issued its quarterly earnings data on Thursday, July 27th. The medical technology company reported $1.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.02. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same period in the previous year, the firm earned $1.39 EPS. Stryker Corporation’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts expect that Stryker Corporation will post $6.50 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors 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 dividend yield of 1.17%. Stryker Corporation’s dividend payout ratio is presently 37.95%.
TRADEMARK VIOLATION NOTICE: “Point72 Asset Management L.P. Has $23.28 Million Position in Stryker Corporation (SYK)” was originally published by Daily Political and is the sole property of of Daily Political. If you are accessing this article on another publication, it was stolen and reposted in violation of US and international trademark & copyright laws. The correct version of this article can be viewed at https://www.dailypolitical.com/2017/08/10/point72-asset-management-l-p-has-23-28-million-position-in-stryker-corporation-syk.html.
SYK has been the subject of several recent research reports. Jefferies Group LLC reissued a “hold” rating and issued a $132.00 price objective on shares of Stryker Corporation in a research report on Thursday, April 13th. Piper Jaffray Companies restated an “overweight” rating and issued a $148.00 target price on shares of Stryker Corporation in a research note on Monday, April 17th. Needham & Company LLC restated a “sell” rating on shares of Stryker Corporation in a research note on Wednesday, April 26th. Royal Bank Of Canada reiterated an “outperform” rating and set a $140.00 price objective (up from $135.00) on shares of Stryker Corporation in a research note on Wednesday, April 26th. 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 note on Wednesday, April 26th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company. Stryker Corporation currently has a consensus 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 company’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $144.56, for a total transaction of $2,790,730.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Graham A. Mclean sold 1,124 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $146.26, for a total value of $164,396.24. Following the transaction, the insider now directly owns 8,983 shares of the company’s stock, valued at approximately $1,313,853.58. The disclosure for this sale can be found here. Insiders sold a total of 32,810 shares of company stock valued at $4,754,958 over the last quarter. 7.40% of the stock is owned by 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.
Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Corporation (NYSE:SYK).
Receive News & Ratings for Stryker Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stryker Corporation and related companies with MarketBeat.com's FREE daily email newsletter.