Stryker Corporation (NYSE:SYK) Shares Sold by Shamrock Asset Management LLC
Shamrock Asset Management LLC cut its position in shares of Stryker Corporation (NYSE:SYK) by 9.3% during the first quarter, Holdings Channel reports. The institutional investor owned 2,445 shares of the medical technology company’s stock after selling 252 shares during the period. Shamrock Asset Management LLC’s holdings in Stryker Corporation were worth $322,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Bollard Group LLC boosted 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. Assetmark Inc. boosted its position 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 in the last quarter. Blue Chip Partners Inc. boosted its position in Stryker Corporation by 0.3% in the first quarter. Blue Chip Partners Inc. now owns 1,775 shares of the medical technology company’s stock worth $234,000 after buying an additional 6 shares in the last quarter. Guardian Life Insurance Co. of America boosted its position 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 in the last quarter. Finally, Baystate Wealth Management LLC boosted its position 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 in the last quarter. 73.99% of the stock is owned by institutional investors and hedge funds.
Stryker Corporation (NYSE:SYK) traded up 0.19% during trading on Friday, hitting $144.18. The stock had a trading volume of 847,631 shares. The company has a 50-day moving average of $143.71 and a 200 day moving average of $135.51. Stryker Corporation has a 52 week low of $106.48 and a 52 week high of $148.84. The company has a market cap of $53.93 billion, a price-to-earnings ratio of 32.18 and a beta of 0.80.
Stryker Corporation (NYSE:SYK) last released its earnings results on Thursday, July 27th. The medical technology company reported $1.53 EPS for the quarter, topping the 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 analysts’ expectations of $2.98 billion. During the same quarter last year, the firm posted $1.39 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. On average, equities research analysts anticipate that Stryker Corporation will post $6.50 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be paid a dividend of $0.425 per share. The ex-dividend date 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%.
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A number of research firms recently issued reports on SYK. BidaskClub cut Stryker Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $132.00 price target on shares of Stryker Corporation in a report on Friday, June 30th. Barclays PLC reaffirmed a “sell” rating and issued a $133.00 price target on shares of Stryker Corporation in a report on Thursday, April 27th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $148.00 price target on shares of Stryker Corporation in a report on Monday, April 17th. Finally, Oppenheimer Holdings, Inc. set a $148.00 price target on Stryker Corporation and gave the company a “hold” rating in a report on Friday, July 28th. Three investment 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. The stock currently has an average rating of “Hold” and a consensus price target of $144.03.
In related news, insider Graham A. Mclean sold 1,124 shares of the firm’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 transaction of $164,396.24. Following the completion of the sale, the insider now owns 8,983 shares of the company’s stock, valued at $1,313,853.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David Floyd sold 19,305 shares of the firm’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 value of $2,790,730.80. The disclosure for this sale can be found here. Insiders have sold 32,810 shares of company stock valued at $4,754,958 in the last ninety days. 7.40% of the stock is currently 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.
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