Starfire Investment Advisers Inc. Increases Holdings in Stryker Corporation (SYK)
Starfire Investment Advisers Inc. raised its stake in Stryker Corporation (NYSE:SYK) by 28.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,060 shares of the medical technology company’s stock after buying an additional 460 shares during the quarter. Starfire Investment Advisers Inc.’s holdings in Stryker were worth $319,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Beach Investment Management LLC. bought a new stake in shares of Stryker in the second quarter worth $1,924,000. First National Trust Co. lifted its position in shares of Stryker by 6.2% in the second quarter. First National Trust Co. now owns 9,625 shares of the medical technology company’s stock worth $1,336,000 after purchasing an additional 561 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Stryker by 12.8% in the second quarter. Victory Capital Management Inc. now owns 19,892 shares of the medical technology company’s stock worth $2,761,000 after purchasing an additional 2,253 shares in the last quarter. Aviva PLC lifted its position in shares of Stryker by 2.6% in the second quarter. Aviva PLC now owns 209,048 shares of the medical technology company’s stock worth $29,014,000 after purchasing an additional 5,330 shares in the last quarter. Finally, Blue Chip Partners Inc. lifted its position in shares of Stryker by 0.3% in the second quarter. Blue Chip Partners Inc. now owns 1,781 shares of the medical technology company’s stock worth $247,000 after purchasing an additional 6 shares in the last quarter. 74.88% of the stock is currently owned by hedge funds and other institutional investors.
In other Stryker news, insider Lonny J. Carpenter sold 5,000 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $155.34, for a total value of $776,700.00. Following the transaction, the insider now directly owns 83,207 shares in the company, valued at $12,925,375.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 7.40% of the stock is owned by insiders.
SYK has been the topic of a number of research reports. SunTrust Banks reissued a “buy” rating and issued a $161.00 price objective on shares of Stryker in a research report on Monday, October 2nd. Royal Bank of Canada reissued a “buy” rating and issued a $155.00 price objective on shares of Stryker in a research report on Monday, October 2nd. Cowen set a $160.00 price objective on shares of Stryker and gave the stock a “buy” rating in a research report on Friday, October 6th. Zacks Investment Research downgraded shares of Stryker from a “hold” rating to a “sell” rating in a report on Monday, October 16th. Finally, Robert W. Baird restated a “hold” rating and set a $161.00 target price on shares of Stryker in a report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $156.60.
Stryker Corporation (NYSE SYK) opened at $160.27 on Thursday. The firm has a market cap of $59,980.00, a price-to-earnings ratio of 34.17, a P/E/G ratio of 2.28 and a beta of 0.78. Stryker Corporation has a fifty-two week low of $119.17 and a fifty-two week high of $164.20. 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 released its quarterly earnings data on Thursday, October 26th. The medical technology company reported $1.52 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same period in the previous year, the company earned $1.39 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. analysts anticipate that Stryker Corporation will post 6.49 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be issued a $0.47 dividend. This is an increase from Stryker’s previous quarterly dividend of $0.43. This represents a $1.88 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, December 28th. Stryker’s payout ratio is currently 40.09%.
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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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