Advisory Services Network LLC increased its stake in shares of Stryker Corp. (NYSE:SYK) by 123.8% during the second quarter, Holdings Channel reports. The institutional investor owned 2,377 shares of the medical technology company’s stock after buying an additional 1,315 shares during the period. Advisory Services Network LLC’s holdings in Stryker Corp. were worth $285,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Carroll Financial Associates Inc. raised its stake in 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 in the last quarter. CWM LLC bought a new stake in Stryker Corp. during the second quarter valued at about $150,000. Lau Associates LLC bought a new stake in Stryker Corp. during the second quarter valued at about $204,000. Brightworth bought a new stake in Stryker Corp. during the second quarter valued at about $211,000. Finally, Leavell Investment Management Inc. bought a new stake in Stryker Corp. during the second quarter valued at about $250,000. 75.49% of the stock is owned by institutional investors and hedge funds.
Shares of Stryker Corp. (NYSE:SYK) traded down 0.29% during mid-day trading on Friday, hitting $116.31. The stock had a trading volume of 920,067 shares. Stryker Corp. has a 12 month low of $86.68 and a 12 month high of $123.55. The stock’s 50-day moving average is $115.07 and its 200 day moving average is $113.84. The firm has a market cap of $43.54 billion, a PE ratio of 27.42 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. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.79 billion. Stryker Corp. had a net margin of 15.33% and a return on equity of 23.61%. Equities research analysts predict that Stryker Corp. will post $5.76 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Wednesday, September 28th. Stryker Corp.’s payout ratio is presently 35.85%.
Several analysts have issued reports on the company. Canaccord Genuity reissued a “buy” rating and set a $130.00 price target on shares of Stryker Corp. in a report on Sunday, July 24th. JPMorgan Chase & Co. restated a “hold” rating and issued a $119.00 price objective on shares of Stryker Corp. in a research report on Friday, July 22nd. Piper Jaffray Cos. boosted their price objective on Stryker Corp. from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, July 22nd. Credit Suisse Group AG restated an “outperform” rating and issued a $124.00 price objective (up from $110.00) on shares of Stryker Corp. in a research report on Tuesday, July 19th. Finally, Jefferies Group restated a “hold” rating and issued a $120.00 price objective (up from $113.00) on shares of Stryker Corp. in a research report on Monday, July 25th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the company. Stryker Corp. currently has an average rating of “Hold” and a consensus price target of $114.91.
In other Stryker Corp. news, Director Ronda E. Stryker sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $122.75, for a total value of $736,500.00. Following the sale, the director now owns 193,142 shares of the company’s stock, valued at $23,708,180.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 13th. The shares were sold at an average price of $122.60, for a total value of $1,471,200.00. Following the completion of the sale, the director now directly owns 193,142 shares in the company, valued at approximately $23,679,209.20. The disclosure for this sale can be found here. Insiders own 7.80% of the company’s stock.
Stryker Corp. Company Profile
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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