Welch Group LLC decreased its position in Stryker Corp. (NYSE:SYK) by 16.7% during the second quarter, Holdings Channel reports. The institutional investor owned 3,240 shares of the medical technology company’s stock after selling 650 shares during the period. Welch Group LLC’s holdings in Stryker Corp. were worth $388,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of SYK. Lazard Asset Management LLC purchased a new stake in shares of Stryker Corp. during the first quarter worth approximately $272,490,000. Wellington Management Group LLP boosted its position in shares of Stryker Corp. by 10.0% in the first quarter. Wellington Management Group LLP now owns 5,509,234 shares of the medical technology company’s stock valued at $591,086,000 after buying an additional 499,015 shares during the period. NN Investment Partners Holdings N.V. boosted its position in shares of Stryker Corp. by 3,088.1% in the second quarter. NN Investment Partners Holdings N.V. now owns 492,717 shares of the medical technology company’s stock valued at $59,041,000 after buying an additional 477,262 shares during the period. BlackRock Fund Advisors boosted its position in shares of Stryker Corp. by 5.6% in the first quarter. BlackRock Fund Advisors now owns 5,228,868 shares of the medical technology company’s stock valued at $561,005,000 after buying an additional 279,074 shares during the period. Finally, Bank of Montreal Can bought a new position in shares of Stryker Corp. during the second quarter valued at about $30,680,000. 75.49% of the stock is owned by institutional investors.
Stryker Corp. (NYSE:SYK) traded up 0.03% on Monday, reaching $116.45. The company’s stock had a trading volume of 805,103 shares. The firm has a 50 day moving average price of $114.75 and a 200 day moving average price of $113.41. The stock has a market capitalization of $43.59 billion, a P/E ratio of 27.45 and a beta of 0.72. Stryker Corp. has a 52 week low of $86.68 and a 52 week high of $123.55.
Stryker Corp. (NYSE:SYK) last issued its quarterly earnings results on Thursday, July 21st. The medical technology company reported $1.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.02. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Stryker Corp. had a return on equity of 23.61% and a net margin of 15.33%. On average, equities analysts anticipate that Stryker Corp. will post $5.76 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.31%. The ex-dividend date is Wednesday, September 28th. Stryker Corp.’s dividend payout ratio (DPR) is 35.85%.
Several equities analysts have recently issued reports on SYK shares. Zacks Investment Research cut Stryker Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, September 27th. Guggenheim started coverage on Stryker Corp. in a report on Wednesday, June 8th. They issued a “buy” rating and a $134.00 price objective for the company. Brean Capital reissued a “buy” rating and issued a $125.00 price objective (up previously from $121.00) on shares of Stryker Corp. in a report on Monday, July 25th. Needham & Company LLC reissued a “hold” rating on shares of Stryker Corp. in a report on Sunday, July 24th. Finally, Jefferies Group reissued a “hold” rating and issued a $120.00 price objective (up previously from $113.00) on shares of Stryker Corp. in a report on Monday, July 25th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company. Stryker Corp. currently has a consensus rating of “Hold” and a consensus target price of $114.91.
In other news, Director Ronda E. Stryker sold 12,000 shares of the company’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $116.17, for a total transaction of $1,394,040.00. Following the transaction, the director now directly owns 193,142 shares of the company’s stock, valued at $22,437,306.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ronda E. Stryker sold 6,000 shares of the company’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $110.81, for a total value of $664,860.00. Following the transaction, the director now directly owns 193,142 shares in the company, valued at $21,402,065.02. The disclosure for this sale can be found here. 7.80% of the stock is owned by company insiders.
About Stryker Corp.
Stryker Corporation (Stryker) is a medical technology company. The Company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Company’s Orthopaedics segment products consist of implants used in hip and knee joint replacements and trauma and surgeries. The Company’s MedSurg segment products consist of surgical equipment and surgical navigation systems (Instruments); endoscopic and communications systems (Endoscopy); patient handling and emergency medical equipment (Medical), and reprocessed and remanufactured medical devices (Sustainability), as well as other medical device products used in a range of medical specialties.
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