Stryker Corporation (SYK) Shares Sold by Private Bank & Trust Co.
Private Bank & Trust Co. lowered its position in Stryker Corporation (NYSE:SYK) by 3.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,832 shares of the medical technology company’s stock after selling 141 shares during the period. Private Bank & Trust Co.’s holdings in Stryker Corporation were worth $531,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Bollard Group LLC boosted 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 period. Baystate Wealth Management LLC boosted 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 period. James Investment Research Inc. purchased a new stake in Stryker Corporation during the second quarter worth approximately $155,000. Guardian Life Insurance Co. of America boosted 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 period. Finally, Assetmark Inc. boosted 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 period. Institutional investors and hedge funds own 73.99% of the company’s stock.
Stryker Corporation (NYSE:SYK) traded down 0.52% during trading on Thursday, reaching $144.42. The company’s stock had a trading volume of 258,175 shares. Stryker Corporation has a 52 week low of $106.48 and a 52 week high of $148.84. The firm has a 50 day moving average of $143.54 and a 200 day moving average of $135.29. The stock has a market capitalization of $54.02 billion, a price-to-earnings ratio of 32.24 and a beta of 0.80.
Stryker Corporation (NYSE:SYK) last announced its quarterly earnings results on Thursday, July 27th. The medical technology company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.51 by $0.02. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter last year, the business earned $1.39 earnings per share. Stryker Corporation’s revenue was up 6.1% compared to the same quarter last year. Analysts expect that Stryker Corporation will post $6.50 EPS for the current year.
The company 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. 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 payout ratio is currently 37.95%.
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SYK has been the topic of a number of research analyst reports. Deutsche Bank AG reiterated a “buy” rating and set a $148.00 target price (up previously from $135.00) on shares of Stryker Corporation in a research report on Saturday, April 29th. BidaskClub cut Stryker Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Zacks Investment Research upgraded Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 target price on the stock in a research report on Monday, July 17th. Stifel Nicolaus lifted their target price on Stryker Corporation from $151.00 to $158.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Finally, Cowen and Company reiterated a “buy” rating and set a $160.00 target price (up previously from $150.00) on shares of Stryker Corporation in a research report on Sunday, July 30th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $144.03.
In other Stryker Corporation news, insider David Floyd sold 19,305 shares of the firm’s stock in a transaction that occurred on 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 document filed with the SEC, which is accessible through this hyperlink. Also, insider Lonny J. Carpenter sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $146.36, for a total transaction of $731,800.00. Following the completion of the sale, the insider now 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 32,810 shares of company stock worth $4,754,958 in the last 90 days. 7.40% of the stock is 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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