CHICAGO TRUST Co NA Purchases New Position in Stryker Co. (NYSE:SYK)
CHICAGO TRUST Co NA purchased a new stake in Stryker Co. (NYSE:SYK) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,116 shares of the medical technology company’s stock, valued at approximately $201,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. ERTS Wealth Advisors LLC acquired a new position in Stryker in the 4th quarter valued at about $25,000. Sofos Investments Inc. grew its stake in Stryker by 160.0% in the 1st quarter. Sofos Investments Inc. now owns 728 shares of the medical technology company’s stock valued at $26,000 after buying an additional 448 shares during the last quarter. WASHINGTON TRUST Co acquired a new position in Stryker in the 1st quarter valued at about $28,000. Filbrandt Wealth Management LLC acquired a new position in Stryker in the 1st quarter valued at about $30,000. Finally, Procyon Private Wealth Partners LLC acquired a new position in Stryker in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 71.24% of the company’s stock.
In other news, CFO Glenn S. Boehnlein sold 10,351 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $185.24, for a total transaction of $1,917,419.24. Following the completion of the sale, the chief financial officer now directly owns 16,321 shares in the company, valued at $3,023,302.04. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Srikant M. Datar sold 200 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $186.01, for a total transaction of $37,202.00. Following the sale, the director now owns 17,686 shares of the company’s stock, valued at $3,289,772.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,670 shares of company stock valued at $5,775,251. 6.80% of the stock is currently owned by corporate insiders.
Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, April 30th. The medical technology company reported $1.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.15. The firm had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.45 billion. Stryker had a net margin of 14.47% and a return on equity of 24.90%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.88 earnings per share. As a group, sell-side analysts forecast that Stryker Co. will post 6.22 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Monday, June 29th. Stryker’s payout ratio is currently 27.85%.
A number of research analysts have issued reports on SYK shares. Cfra decreased their target price on shares of Stryker from $234.00 to $231.00 and set a “strong-buy” rating on the stock in a research report on Friday, May 1st. Citigroup increased their target price on shares of Stryker from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Zacks Investment Research lowered shares of Stryker from a “hold” rating to a “sell” rating and set a $190.00 target price on the stock. in a research report on Monday, May 4th. Credit Suisse Group increased their target price on shares of Stryker from $229.00 to $237.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Finally, Raymond James decreased their target price on shares of Stryker from $240.00 to $205.00 and set an “outperform” rating on the stock in a research report on Monday, April 13th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $214.23.
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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