Stryker Corporation (SYK) is Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s 3rd Largest Position
Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its position in Stryker Corporation (NYSE:SYK) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,309,678 shares of the medical technology company’s stock after selling 17,861 shares during the quarter. Stryker Corporation makes up 3.8% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s investment portfolio, making the stock its 3rd largest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned approximately 0.35% of Stryker Corporation worth $192,654,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of SYK. Bollard Group LLC grew its stake in Stryker Corporation by 0.4% during the 2nd quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock worth $115,000 after purchasing an additional 3 shares in the last quarter. James Investment Research Inc. acquired a new position in Stryker Corporation during the 2nd quarter worth $155,000. Guardian Life Insurance Co. of America grew its stake in Stryker Corporation by 0.8% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,199 shares of the medical technology company’s stock worth $158,000 after purchasing an additional 9 shares in the last quarter. Assetmark Inc. grew its stake in Stryker Corporation by 0.3% during the 1st quarter. Assetmark Inc. now owns 1,274 shares of the medical technology company’s stock worth $168,000 after purchasing an additional 4 shares in the last quarter. Finally, Mosaic Family Wealth LLC grew its stake in Stryker Corporation by 3.5% during the 1st quarter. Mosaic Family Wealth LLC now owns 1,300 shares of the medical technology company’s stock worth $171,000 after purchasing an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 74.13% of the company’s stock.
In other Stryker Corporation news, insider Lonny J. Carpenter sold 5,000 shares of Stryker Corporation stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $146.36, for a total value of $731,800.00. Following the completion of the transaction, the insider now directly owns 88,207 shares in the company, valued at $12,909,976.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Graham A. Mclean sold 1,124 shares of Stryker Corporation 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 completion of the transaction, the insider now owns 8,983 shares of the company’s stock, valued at $1,313,853.58. The disclosure for this sale can be found here. Insiders sold 25,429 shares of company stock valued at $3,686,927 over the last quarter. Insiders own 7.40% of the company’s stock.
Shares of Stryker Corporation (NYSE:SYK) opened at 140.67 on Friday. The stock has a 50 day moving average price of $143.56 and a 200 day moving average price of $138.98. 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 $52.62 billion, a P/E ratio of 31.40 and a beta of 0.81.
Stryker Corporation (NYSE:SYK) last posted its quarterly earnings results on Thursday, July 27th. The medical technology company reported $1.53 EPS for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.02. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm earned $1.39 earnings per share. On average, equities analysts anticipate that Stryker Corporation will post $6.46 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors 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 dividend on an annualized basis and a yield of 1.21%. Stryker Corporation’s dividend payout ratio (DPR) is 37.95%.
SYK has been the subject of several analyst reports. Piper Jaffray Companies reissued an “overweight” rating and set a $148.00 target price on shares of Stryker Corporation in a research note on Thursday, August 24th. Needham & Company LLC raised Stryker Corporation from an “underperform” rating to a “hold” rating in a research note on Friday, August 25th. Cantor Fitzgerald initiated coverage on Stryker Corporation in a research note on Thursday, June 29th. They set a “neutral” rating and a $153.00 target price for the company. Morgan Stanley reissued an “overweight” rating and set a $160.00 target price (up from $155.00) on shares of Stryker Corporation in a research note on Monday, July 10th. Finally, Zacks Investment Research raised Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 target price for the company in a research note on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. Stryker Corporation has a consensus rating of “Hold” and a consensus price target of $145.73.
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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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