Impax Asset Management LLC Has $689,000 Position in Stryker Co. (SYK)
Impax Asset Management LLC boosted its stake in shares of Stryker Co. (NYSE:SYK) by 11.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,079 shares of the medical technology company’s stock after acquiring an additional 403 shares during the quarter. Impax Asset Management LLC’s holdings in Stryker were worth $689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Kaizen Advisory LLC boosted its holdings in Stryker by 142.6% during the 2nd quarter. Kaizen Advisory LLC now owns 752 shares of the medical technology company’s stock valued at $127,000 after acquiring an additional 442 shares during the period. CX Institutional purchased a new stake in Stryker during the 2nd quarter valued at about $133,000. NumerixS Investment Technologies Inc purchased a new stake in Stryker during the 2nd quarter valued at about $135,000. Bruderman Asset Management LLC purchased a new stake in Stryker during the 1st quarter valued at about $152,000. Finally, Ostrum Asset Management purchased a new stake in Stryker during the 1st quarter valued at about $160,000. Institutional investors own 75.08% of the company’s stock.
In related news, VP Katherine Ann Owen sold 37,866 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $166.84, for a total transaction of $6,317,563.44. Following the completion of the transaction, the vice president now owns 11,367 shares of the company’s stock, valued at approximately $1,896,470.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 7.30% of the stock is owned by company insiders.
Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, July 24th. The medical technology company reported $1.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.73 by $0.03. Stryker had a return on equity of 26.93% and a net margin of 8.28%. The company had revenue of $3.32 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same quarter last year, the company earned $1.53 EPS. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. equities research analysts forecast that Stryker Co. will post 7.25 EPS for the current year.
Several brokerages recently weighed in on SYK. BTIG Research restated a “buy” rating and set a $187.00 target price on shares of Stryker in a report on Wednesday. ValuEngine upgraded Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, June 26th. Sanford C. Bernstein assumed coverage on Stryker in a report on Wednesday, June 27th. They set a “market perform” rating and a $177.00 target price for the company. Zacks Investment Research raised Stryker from a “hold” rating to a “buy” rating and set a $191.00 price target for the company in a research report on Wednesday, June 20th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Stryker in a research report on Tuesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $177.25.
Stryker Company Profile
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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