Stryker Co. (SYK) Shares Sold by Huntington National Bank
Huntington National Bank decreased its holdings in Stryker Co. (NYSE:SYK) by 18.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 201,517 shares of the medical technology company’s stock after selling 45,663 shares during the quarter. Huntington National Bank owned approximately 0.05% of Stryker worth $35,806,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Atlantic Trust LLC bought a new position in Stryker in the 2nd quarter valued at $105,000. Centaurus Financial Inc. acquired a new stake in shares of Stryker in the 2nd quarter valued at $110,000. Kaizen Advisory LLC increased its stake in shares of Stryker by 142.6% in the 2nd quarter. Kaizen Advisory LLC now owns 752 shares of the medical technology company’s stock valued at $127,000 after buying an additional 442 shares during the period. NumerixS Investment Technologies Inc acquired a new stake in shares of Stryker in the 2nd quarter valued at $135,000. Finally, CX Institutional acquired a new stake in shares of Stryker in the 2nd quarter valued at $133,000. Hedge funds and other institutional investors own 75.11% of the company’s stock.
In related news, VP Katherine Ann Owen sold 37,866 shares of Stryker stock in a transaction 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 sale, the vice president now directly owns 11,367 shares of the company’s stock, valued at $1,896,470.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Glenn S. Boehnlein sold 750 shares of Stryker stock in a transaction on Monday, October 1st. The stock was sold at an average price of $178.17, for a total value of $133,627.50. Following the sale, the chief financial officer now directly owns 2,785 shares of the company’s stock, valued at $496,203.45. The disclosure for this sale can be found here. 7.30% of the stock is owned by insiders.
Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, July 24th. The medical technology company reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.03. Stryker had a return on equity of 26.93% and a net margin of 8.28%. The business had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same period in the previous year, the firm earned $1.53 earnings per share. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. Analysts expect that Stryker Co. will post 7.25 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Investors of record on Friday, September 28th will be paid a dividend of $0.47 per share. The ex-dividend date is Thursday, September 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.09%. Stryker’s dividend payout ratio (DPR) is presently 28.97%.
SYK has been the subject of several research reports. Zacks Investment Research raised Stryker from a “hold” rating to a “buy” rating and set a $191.00 target price for the company in a research note on Wednesday, June 20th. ValuEngine raised Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, June 26th. Sanford C. Bernstein initiated coverage on Stryker in a research note on Wednesday, June 27th. They issued a “market perform” rating and a $177.00 target price for the company. BMO Capital Markets reissued a “hold” rating and issued a $174.00 target price on shares of Stryker in a research note on Thursday, July 12th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Stryker in a research note on Wednesday, July 25th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $180.71.
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.
Read More: Earnings Per Share (EPS) Explained
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