Stryker Co. (SYK) Position Boosted by Optimum Investment Advisors
Optimum Investment Advisors boosted its holdings in Stryker Co. (NYSE:SYK) by 4.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,475 shares of the medical technology company’s stock after buying an additional 150 shares during the quarter. Optimum Investment Advisors’ holdings in Stryker were worth $482,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Acrospire Investment Management LLC acquired a new position in Stryker in the second quarter valued at $111,000. Bollard Group LLC boosted its stake in Stryker by 0.4% in the second quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock valued at $115,000 after acquiring an additional 3 shares in the last quarter. Motco boosted its stake in Stryker by 50.7% in the second quarter. Motco now owns 826 shares of the medical technology company’s stock valued at $115,000 after acquiring an additional 278 shares in the last quarter. Bruderman Asset Management LLC acquired a new position in Stryker in the second quarter valued at $150,000. Finally, James Investment Research Inc. acquired a new position in Stryker in the second quarter valued at $155,000. 74.10% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have issued reports on the stock. Cowen and Company set a $160.00 price objective on shares of Stryker and gave the company a “buy” rating in a research note on Friday, October 6th. Zacks Investment Research downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. BidaskClub upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Royal Bank Of Canada upped their price objective on shares of Stryker from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. Finally, Oppenheimer Holdings, Inc. set a $148.00 price objective on shares of Stryker and gave the company a “hold” rating in a research note on Friday, July 28th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $146.78.
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Shares of Stryker Co. (SYK) opened at 148.64 on Thursday. The company has a 50-day moving average of $143.70 and a 200-day moving average of $140.89. The firm has a market cap of $55.60 billion, a P/E ratio of 33.18 and a beta of 0.80. Stryker Co. has a 12 month low of $106.48 and a 12 month high of $150.00.
Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates 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 had a net margin of 12.98% and a return on equity of 15.89%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.39 EPS. Equities analysts forecast that Stryker Co. will post $6.45 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Thursday, September 28th. Stryker’s dividend payout ratio is currently 37.95%.
In related news, insider Lonny J. Carpenter sold 5,000 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $146.36, for a total transaction of $731,800.00. Following the completion of the sale, the insider now directly owns 88,207 shares of the company’s stock, valued at $12,909,976.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Graham A. Mclean sold 1,124 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 8,983 shares of the company’s stock, valued at $1,313,853.58. The disclosure for this sale can be found here. Corporate insiders own 7.40% of the company’s stock.
Stryker 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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