ING Groep NV Raises Position in Stryker Corporation (SYK)
ING Groep NV increased its position in shares of Stryker Corporation (NYSE:SYK) by 28.8% during the second quarter, Holdings Channel reports. The institutional investor owned 7,638 shares of the medical technology company’s stock after buying an additional 1,706 shares during the period. ING Groep NV’s holdings in Stryker Corporation were worth $1,060,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of SYK. Nisa Investment Advisors LLC raised its stake in Stryker Corporation by 0.3% in the first quarter. Nisa Investment Advisors LLC now owns 117,041 shares of the medical technology company’s stock worth $15,408,000 after buying an additional 380 shares in the last quarter. Mitchell Sinkler & Starr PA raised its stake in Stryker Corporation by 34.6% in the first quarter. Mitchell Sinkler & Starr PA now owns 3,110 shares of the medical technology company’s stock worth $409,000 after buying an additional 800 shares in the last quarter. DnB Asset Management AS raised its stake in Stryker Corporation by 13.9% in the first quarter. DnB Asset Management AS now owns 36,795 shares of the medical technology company’s stock worth $4,844,000 after buying an additional 4,500 shares in the last quarter. Washington Trust Bank raised its stake in Stryker Corporation by 16.8% in the first quarter. Washington Trust Bank now owns 3,567 shares of the medical technology company’s stock worth $470,000 after buying an additional 513 shares in the last quarter. Finally, GVO Asset Management Ltd raised its stake in Stryker Corporation by 191.6% in the first quarter. GVO Asset Management Ltd now owns 115,170 shares of the medical technology company’s stock worth $15,177,000 after buying an additional 75,680 shares in the last quarter. 73.79% of the stock is owned by institutional investors and hedge funds.
Stryker Corporation (SYK) traded down 0.72% during midday trading on Thursday, reaching $146.35. 287,865 shares of the company traded hands. Stryker Corporation has a 12-month low of $106.48 and a 12-month high of $148.84. The stock has a market capitalization of $54.74 billion, a P/E ratio of 32.67 and a beta of 0.80. The company has a 50 day moving average of $144.29 and a 200-day moving average of $136.16.
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, beating the Zacks’ consensus estimate of $1.51 by $0.02. The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.98 billion. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.39 EPS. Equities analysts anticipate that Stryker Corporation will post $6.50 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, September 28th. Stryker Corporation’s payout ratio is currently 37.95%.
SYK has been the subject of a number of analyst reports. BMO Capital Markets reaffirmed a “hold” rating and set a $140.00 target price on shares of Stryker Corporation in a report on Tuesday, July 11th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Stryker Corporation in a report on Monday, June 19th. Citigroup Inc. lifted their target price on shares of Stryker Corporation from $114.00 to $125.00 and gave the stock a “sell” rating in a report on Friday, June 9th. Cantor Fitzgerald initiated coverage on shares of Stryker Corporation in a report on Thursday, June 29th. They set a “neutral” rating and a $153.00 target price for the company. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $160.00 target price (up previously from $155.00) on shares of Stryker Corporation in a report on Monday, July 10th. Three investment 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’s stock. The stock currently has an average rating of “Hold” and an average target price of $144.03.
In other Stryker Corporation news, insider Graham A. Mclean sold 1,124 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $146.26, for a total transaction of $164,396.24. Following the transaction, the insider now directly owns 8,983 shares of the company’s stock, valued at approximately $1,313,853.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider David Floyd sold 19,305 shares of the business’s stock in a transaction on Wednesday, July 12th. The shares were 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. Over the last three months, insiders have sold 32,810 shares of company stock worth $4,754,958. Insiders own 7.40% of the company’s stock.
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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