Keybank National Association OH Has $24.32 Million Stake in Stryker Corporation (SYK)
Keybank National Association OH lowered its position in Stryker Corporation (NYSE:SYK) by 0.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 175,244 shares of the medical technology company’s stock after selling 528 shares during the period. Keybank National Association OH’s holdings in Stryker Corporation were worth $24,320,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of SYK. BlackRock Inc. grew its position in shares of Stryker Corporation by 2,526.4% in the 1st quarter. BlackRock Inc. now owns 21,976,771 shares of the medical technology company’s stock worth $2,893,242,000 after buying an additional 21,140,000 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Stryker Corporation by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 23,421,053 shares of the medical technology company’s stock worth $3,083,382,000 after buying an additional 1,161,688 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Stryker Corporation by 41.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,403,420 shares of the medical technology company’s stock worth $184,759,000 after buying an additional 414,715 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Stryker Corporation by 600.6% in the 1st quarter. SG Americas Securities LLC now owns 412,340 shares of the medical technology company’s stock worth $54,285,000 after buying an additional 353,486 shares during the last quarter. Finally, Morgan Stanley grew its position in shares of Stryker Corporation by 17.9% in the 1st quarter. Morgan Stanley now owns 2,144,472 shares of the medical technology company’s stock worth $282,320,000 after buying an additional 325,661 shares during the last quarter. 74.13% of the stock is currently owned by hedge funds and other institutional investors.
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 transaction of $2,790,730.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Lonny J. Carpenter sold 5,000 shares of Stryker Corporation stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $146.36, for a total value of $731,800.00. Following the sale, the insider now owns 88,207 shares of the company’s stock, valued at approximately $12,909,976.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,429 shares of company stock valued at $3,686,927. Company insiders own 7.40% of the company’s stock.
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Shares of Stryker Corporation (SYK) opened at 140.89 on Monday. The stock’s 50 day moving average is $143.56 and its 200-day moving average is $138.98. The stock has a market cap of $52.70 billion, a price-to-earnings ratio of 31.45 and a beta of 0.81. Stryker Corporation has a 12-month low of $106.48 and a 12-month high of $148.84.
Stryker Corporation (NYSE:SYK) last announced its quarterly earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates 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 business posted $1.39 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities analysts anticipate that Stryker Corporation will post $6.46 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, September 28th. Stryker Corporation’s dividend payout ratio is currently 37.95%.
A number of analysts recently commented on SYK shares. 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 research note on Friday, June 9th. BidaskClub cut shares of Stryker Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Stryker Corporation in a research note on Monday, June 19th. Morgan Stanley lifted their target price on shares of Stryker Corporation from $145.00 to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 21st. Finally, Cantor Fitzgerald started coverage on shares of Stryker Corporation in a research note on Thursday, June 29th. They issued a “neutral” rating and a $153.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. Stryker Corporation currently has a consensus rating of “Hold” and an average target price of $145.73.
Stryker Corporation 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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