Greenleaf Trust decreased its stake in Stryker Corp. (NYSE:SYK) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,070,567 shares of the medical technology company’s stock after selling 499,233 shares during the period. Stryker Corp. makes up 83.1% of Greenleaf Trust’s investment portfolio, making the stock its largest position. Greenleaf Trust owned 0.07% of Stryker Corp. worth $3,243,866,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in SYK. Carroll Financial Associates Inc. raised its position in shares of Stryker Corp. by 78.0% in the second quarter. Carroll Financial Associates Inc. now owns 1,086 shares of the medical technology company’s stock valued at $130,000 after buying an additional 476 shares during the period. CWM LLC acquired a new position in shares of Stryker Corp. during the second quarter valued at approximately $150,000. Lau Associates LLC acquired a new position in shares of Stryker Corp. during the second quarter valued at approximately $204,000. Brightworth acquired a new position in shares of Stryker Corp. during the second quarter valued at approximately $211,000. Finally, Leavell Investment Management Inc. acquired a new position in shares of Stryker Corp. during the second quarter valued at approximately $250,000. Institutional investors own 75.49% of the company’s stock.
Shares of Stryker Corp. (NYSE:SYK) traded up 0.46% during trading on Wednesday, hitting $116.79. 550,980 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $114.81 and its 200-day moving average price is $113.71. Stryker Corp. has a 1-year low of $86.68 and a 1-year high of $123.55. The stock has a market cap of $43.71 billion, a PE ratio of 27.53 and a beta of 0.72.
Stryker Corp. (NYSE:SYK) last released its quarterly earnings results on Thursday, July 21st. The medical technology company reported $1.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.02. Stryker Corp. had a net margin of 15.33% and a return on equity of 23.61%. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.79 billion. On average, equities analysts expect that Stryker Corp. will post $5.76 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be paid a $0.38 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.52 annualized dividend and a dividend yield of 1.31%. Stryker Corp.’s dividend payout ratio (DPR) is presently 35.85%.
Several research analysts have recently commented on the stock. Jefferies Group restated a “hold” rating and set a $120.00 price target (up previously from $113.00) on shares of Stryker Corp. in a research note on Monday, July 25th. Credit Suisse Group AG reiterated an “outperform” rating and issued a $124.00 target price (up from $110.00) on shares of Stryker Corp. in a research note on Tuesday, July 19th. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $119.00 target price on shares of Stryker Corp. in a research note on Friday, July 22nd. Brean Capital reiterated a “buy” rating and issued a $125.00 target price (up from $121.00) on shares of Stryker Corp. in a research note on Monday, July 25th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $130.00 target price on shares of Stryker Corp. in a research note on Sunday, July 24th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $114.91.
In related news, Director Ronda E. Stryker sold 12,000 shares of the company’s stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $116.17, for a total value of $1,394,040.00. Following the transaction, the director now directly owns 193,142 shares in the company, valued at $22,437,306.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 6,000 shares of the company’s stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $122.75, for a total transaction of $736,500.00. Following the completion of the transaction, the director now owns 193,142 shares in the company, valued at $23,708,180.50. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by corporate 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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