Stryker Corporation (SYK) Shares Bought by HM Payson & Co.
HM Payson & Co. increased its stake in Stryker Corporation (NYSE:SYK) by 13.0% during the first quarter, Holdings Channel reports. The firm owned 4,116 shares of the medical technology company’s stock after buying an additional 475 shares during the period. HM Payson & Co.’s holdings in Stryker Corporation were worth $542,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of SYK. Pointe Capital Management LLC bought a new position in shares of Stryker Corporation during the first quarter valued at approximately $271,000. Achmea Investment Management B.V. bought a new position in shares of Stryker Corporation during the first quarter valued at approximately $2,307,000. Bank of Nova Scotia raised its position in shares of Stryker Corporation by 913.0% in the first quarter. Bank of Nova Scotia now owns 70,790 shares of the medical technology company’s stock valued at $9,319,000 after buying an additional 63,802 shares during the period. Northern Oak Wealth Management Inc. raised its position in shares of Stryker Corporation by 38.1% in the first quarter. Northern Oak Wealth Management Inc. now owns 4,280 shares of the medical technology company’s stock valued at $563,000 after buying an additional 1,180 shares during the period. Finally, Hutchens Investment Management Inc bought a new position in shares of Stryker Corporation during the first quarter valued at approximately $2,904,000. 73.99% of the stock is owned by hedge funds and other institutional investors.
Shares of Stryker Corporation (SYK) traded up 0.19% on Friday, hitting $144.18. 847,631 shares of the stock traded hands. The stock has a market cap of $53.93 billion, a price-to-earnings ratio of 32.18 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 stock has a 50-day moving average price of $143.71 and a 200 day moving average price of $135.51.
Stryker Corporation (NYSE:SYK) last released its quarterly earnings results on Thursday, July 27th. The medical technology company reported $1.53 EPS for the quarter, beating the Zacks’ 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 firm posted $1.39 earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, analysts anticipate that Stryker Corporation will post $6.50 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders 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 1.18%. Stryker Corporation’s payout ratio is 37.95%.
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Several equities analysts recently commented on the stock. Zacks Investment Research raised shares of Stryker Corporation from a “hold” rating to a “buy” rating and set a $166.00 price target for the company in a research report on Tuesday, August 1st. BidaskClub downgraded shares of Stryker Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Cowen and Company reiterated a “buy” rating and set a $160.00 price objective (up from $150.00) on shares of Stryker Corporation in a research note on Sunday, July 30th. 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. Finally, Oppenheimer Holdings, Inc. set a $148.00 price objective on shares of Stryker Corporation and gave the stock a “hold” rating in a research note on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company. Stryker Corporation presently has an average rating of “Hold” and a consensus price target of $144.03.
In other news, insider Graham A. Mclean sold 1,124 shares of the firm’s stock in a transaction 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 sale, the insider now owns 8,983 shares in the company, valued at $1,313,853.58. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider David Floyd sold 19,305 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 32,810 shares of company stock worth $4,754,958. 7.40% of the stock is currently owned by corporate 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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