Stryker Corporation (NYSE:SYK) Shares Sold by Piedmont Investment Advisors LLC
Piedmont Investment Advisors LLC reduced its stake in Stryker Corporation (NYSE:SYK) by 25.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 218,821 shares of the medical technology company’s stock after selling 74,138 shares during the period. Piedmont Investment Advisors LLC’s holdings in Stryker Corporation were worth $28,808,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of SYK. Vanguard Group Inc. boosted its position in Stryker Corporation by 5.2% in the first quarter. Vanguard Group Inc. now owns 23,421,053 shares of the medical technology company’s stock valued at $3,083,382,000 after buying an additional 1,161,688 shares in the last quarter. BlackRock Inc. boosted its position in Stryker Corporation by 2,526.4% in the first quarter. BlackRock Inc. now owns 21,976,771 shares of the medical technology company’s stock valued at $2,893,242,000 after buying an additional 21,140,000 shares in the last quarter. Fundsmith LLP boosted its position in Stryker Corporation by 4.6% in the first quarter. Fundsmith LLP now owns 5,175,453 shares of the medical technology company’s stock valued at $681,348,000 after buying an additional 226,057 shares in the last quarter. Wellington Management Group LLP boosted its position in Stryker Corporation by 0.5% in the first quarter. Wellington Management Group LLP now owns 4,569,118 shares of the medical technology company’s stock valued at $601,525,000 after buying an additional 24,139 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Stryker Corporation by 6.3% in the first quarter. Geode Capital Management LLC now owns 2,786,406 shares of the medical technology company’s stock valued at $366,255,000 after buying an additional 166,133 shares in the last quarter. 73.99% of the stock is currently owned by institutional investors and hedge funds.
Stryker Corporation (NYSE SYK) traded up 0.19% during mid-day trading on Friday, hitting $144.18. The company had a trading volume of 847,631 shares. The firm’s 50 day moving average is $143.71 and its 200 day moving average is $135.51. The company has a market capitalization of $53.93 billion, a price-to-earnings ratio of 32.18 and a beta of 0.80. Stryker Corporation has a 52 week low of $106.48 and a 52 week high of $148.84.
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, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.02. The company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.98 billion. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $1.39 earnings per share. On average, equities research analysts predict that Stryker Corporation will post $6.50 EPS for the current year.
The business also recently declared 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 of this dividend is Thursday, September 28th. This represents a $1.70 annualized dividend and a yield of 1.18%. Stryker Corporation’s dividend payout ratio is currently 37.95%.
Several research analysts have weighed in on SYK shares. BMO Capital Markets reissued a “hold” rating and issued a $140.00 price objective on shares of Stryker Corporation in a research report on Tuesday, July 11th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Stryker Corporation in a research report on Monday, June 19th. Citigroup Inc. boosted their price objective on Stryker Corporation from $114.00 to $125.00 and gave the stock a “sell” rating in a research report on Friday, June 9th. Cantor Fitzgerald started coverage on Stryker Corporation in a research report on Thursday, June 29th. They issued a “neutral” rating and a $153.00 price objective on the stock. Finally, Morgan Stanley reissued an “overweight” rating and issued a $160.00 price objective (up previously from $155.00) on shares of Stryker Corporation in a research report on Monday, July 10th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. Stryker Corporation currently has an average rating of “Hold” and a consensus target price of $144.03.
In related news, insider David Floyd sold 19,305 shares of Stryker Corporation 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Graham A. Mclean sold 1,124 shares of Stryker Corporation stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $146.26, for a total value of $164,396.24. Following the completion of the transaction, the insider now 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. In the last quarter, insiders sold 32,810 shares of company stock valued at $4,754,958. 7.40% of the stock is currently owned by company insiders.
Stryker Corporation Company Profile
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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