Stryker Corporation (SYK) Stake Decreased by Huntington National Bank
Huntington National Bank reduced its position in Stryker Corporation (NYSE:SYK) by 2.3% during the second quarter, Holdings Channel reports. The fund owned 214,408 shares of the medical technology company’s stock after selling 5,140 shares during the period. Huntington National Bank’s holdings in Stryker Corporation were worth $29,756,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in the company. Bollard Group LLC increased 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 in the last quarter. Baystate Wealth Management LLC increased 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 in the last quarter. James Investment Research Inc. bought a new stake in shares of Stryker Corporation during the second quarter worth $155,000. Guardian Life Insurance Co. of America increased 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 in the last quarter. Finally, Assetmark Inc. increased 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 in the last quarter. 73.99% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Stryker Corporation (NYSE:SYK) traded down 0.52% on Thursday, hitting $144.42. 258,175 shares of the stock traded hands. The firm has a market cap of $54.02 billion, a PE ratio of 32.24 and a beta of 0.80. 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 price of $143.54 and a 200 day moving average price of $135.29.
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, topping the Thomson Reuters’ 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 company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.39 EPS. On average, equities analysts forecast that Stryker Corporation will post $6.50 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Thursday, September 28th. Stryker Corporation’s dividend payout ratio is currently 37.95%.
A number of equities research analysts recently weighed in on SYK shares. Deutsche Bank AG reaffirmed a “buy” rating and issued a $148.00 target price (up from $135.00) on shares of Stryker Corporation in a research note on Saturday, April 29th. BidaskClub downgraded shares of Stryker Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Zacks Investment Research raised shares of Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 target price on the stock in a research note on Monday, July 17th. Stifel Nicolaus raised their target price on shares of Stryker Corporation from $151.00 to $158.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $160.00 target price (up from $150.00) on shares of Stryker Corporation in a research note on Sunday, July 30th. Three research 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. The company has an average rating of “Hold” and an average target price of $144.03.
In other news, insider Lonny J. Carpenter sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $146.36, for a total transaction of $731,800.00. Following the transaction, the insider now owns 88,207 shares of the company’s stock, valued at approximately $12,909,976.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Graham A. Mclean sold 1,124 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were 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 in the company, valued at approximately $1,313,853.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,810 shares of company stock worth $4,754,958. Corporate 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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