Fenimore Asset Management Inc. decreased its position in shares of Stryker Corp. (NYSE:SYK) by 1.0% during the third quarter, Holdings Channel reports. The institutional investor owned 532,056 shares of the medical technology company’s stock after selling 5,370 shares during the period. Stryker Corp. makes up about 3.0% of Fenimore Asset Management Inc.’s investment portfolio, making the stock its 9th largest position. Fenimore Asset Management Inc.’s holdings in Stryker Corp. were worth $61,937,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in SYK. Lazard Asset Management LLC bought a new position in shares of Stryker Corp. during the first quarter worth about $272,490,000. Winslow Capital Management LLC bought a new position in shares of Stryker Corp. during the second quarter worth about $174,599,000. Capital Research Global Investors increased its position in shares of Stryker Corp. by 3.4% in the second quarter. Capital Research Global Investors now owns 32,980,782 shares of the medical technology company’s stock worth $3,952,087,000 after buying an additional 1,095,549 shares during the period. BlackRock Fund Advisors increased its position in shares of Stryker Corp. by 20.1% in the second quarter. BlackRock Fund Advisors now owns 6,280,516 shares of the medical technology company’s stock worth $752,594,000 after buying an additional 1,051,648 shares during the period. Finally, Emerald Acquisition Ltd. bought a new position in shares of Stryker Corp. during the second quarter worth about $104,111,000. Institutional investors and hedge funds own 75.49% of the company’s stock.
Shares of Stryker Corp. (NYSE:SYK) traded up 0.23% during trading on Wednesday, reaching $113.99. The company’s stock had a trading volume of 419,528 shares. The company has a market capitalization of $42.67 billion, a PE ratio of 26.87 and a beta of 0.72. The stock has a 50 day moving average of $115.18 and a 200-day moving average of $114.05. Stryker Corp. has a 1-year low of $86.68 and a 1-year 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 (EPS) for the quarter, topping the Zacks’ 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 return on equity of 23.61% and a net margin of 15.33%. On average, analysts expect that Stryker Corp. will post $5.76 earnings per share for the current 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 paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Wednesday, September 28th. Stryker Corp.’s dividend payout ratio is presently 35.85%.
SYK has been the subject of a number of recent research reports. Zacks Investment Research downgraded Stryker Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, September 27th. Needham & Company LLC reiterated a “hold” rating on shares of Stryker Corp. in a research note on Sunday, July 24th. 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 note on Friday, July 22nd. Canaccord Genuity reiterated a “buy” rating and set a $130.00 price objective on shares of Stryker Corp. in a research note on Sunday, July 24th. Finally, Brean Capital reiterated a “buy” rating and set a $125.00 price objective (up from $121.00) on shares of Stryker Corp. in a research note on Monday, July 25th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $114.91.
In other news, Director Howard E. Cox, Jr. sold 9,448 shares of Stryker Corp. stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $117.02, for a total value of $1,105,604.96. Following the sale, the director now directly owns 554,732 shares of the company’s stock, valued at $64,914,738.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Yin C. Becker sold 1,111 shares of Stryker Corp. stock in a transaction that occurred on Thursday, October 6th. The stock was sold at an average price of $117.00, for a total value of $129,987.00. Following the completion of the sale, the vice president now directly owns 16,939 shares in the company, valued at $1,981,863. The disclosure for this sale can be found here. 7.80% of the stock is owned by 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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