LGT Capital Partners LTD. Invests $4.85 Million in Stryker Corporation (SYK)
LGT Capital Partners LTD. purchased a new position in Stryker Corporation (NYSE:SYK) in the fourth quarter, Holdings Channel reports. The fund purchased 31,300 shares of the medical technology company’s stock, valued at approximately $4,846,000.
Several other large investors also recently modified their holdings of the stock. Acrospire Investment Management LLC acquired a new position in Stryker in the second quarter worth $111,000. Sit Investment Associates Inc. boosted its holdings in Stryker by 114.3% in the fourth quarter. Sit Investment Associates Inc. now owns 825 shares of the medical technology company’s stock worth $128,000 after purchasing an additional 440 shares during the period. Motco boosted its holdings in Stryker by 50.7% in the second quarter. Motco now owns 826 shares of the medical technology company’s stock worth $115,000 after purchasing an additional 278 shares during the period. Oak Point Wealth Management acquired a new position in Stryker in the fourth quarter worth $145,000. Finally, San Francisco Sentry Investment Group CA boosted its holdings in Stryker by 47.8% in the third quarter. San Francisco Sentry Investment Group CA now owns 1,005 shares of the medical technology company’s stock worth $143,000 after purchasing an additional 325 shares during the period. Institutional investors and hedge funds own 74.90% of the company’s stock.
A number of equities analysts have commented on the stock. SunTrust Banks reaffirmed a “buy” rating and issued a $161.00 price objective on shares of Stryker in a report on Monday, October 2nd. Oppenheimer set a $156.00 price objective on shares of Stryker and gave the stock a “hold” rating in a report on Monday, October 30th. Canaccord Genuity lifted their price objective on shares of Stryker from $155.00 to $162.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Zacks Investment Research downgraded shares of Stryker from a “hold” rating to a “sell” rating in a report on Monday, October 16th. Finally, Cowen set a $160.00 price objective on shares of Stryker and gave the stock a “buy” rating in a report on Friday, October 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $156.60.
In related news, insider Lonny J. Carpenter sold 5,000 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $155.34, for a total value of $776,700.00. Following the completion of the sale, the insider now owns 83,207 shares of the company’s stock, valued at $12,925,375.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 7.40% of the company’s stock.
Shares of Stryker Corporation (NYSE SYK) traded down $1.24 on Thursday, hitting $159.54. 1,255,000 shares of the stock traded hands, compared to its average volume of 1,228,157. Stryker Corporation has a 52 week low of $119.17 and a 52 week high of $164.20. The firm has a market capitalization of $59,460.00, a P/E ratio of 34.02, a price-to-earnings-growth ratio of 2.30 and a beta of 0.78. The company has a current ratio of 2.37, a quick ratio of 1.61 and a debt-to-equity ratio of 0.63.
Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.02. Stryker had a net margin of 14.67% and a return on equity of 24.11%. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter in the previous year, the company posted $1.39 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. equities analysts expect that Stryker Corporation will post 6.47 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be issued a $0.47 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.88 annualized dividend and a yield of 1.18%. This is an increase from Stryker’s previous quarterly dividend of $0.43. Stryker’s dividend payout ratio is presently 40.09%.
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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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