Summit Global Investments purchased a new position in Stryker Corporation (NYSE:SYK) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,120 shares of the medical technology company’s stock, valued at approximately $542,000.
Several other institutional investors have also modified their holdings of SYK. Bollard Group LLC increased its position in Stryker Corporation by 0.4% in the first quarter. Bollard Group LLC now owns 829 shares of the medical technology company’s stock valued at $109,000 after buying an additional 3 shares during the last quarter. Baystate Wealth Management LLC increased its position in Stryker Corporation by 2.1% in the first quarter. Baystate Wealth Management LLC now owns 1,066 shares of the medical technology company’s stock valued at $139,000 after buying an additional 22 shares during the last quarter. Guardian Life Insurance Co. of America increased its position in Stryker Corporation by 0.8% in the first quarter. Guardian Life Insurance Co. of America now owns 1,199 shares of the medical technology company’s stock valued at $158,000 after buying an additional 9 shares during the last quarter. Assetmark Inc. increased its position in Stryker Corporation by 0.3% in the first quarter. Assetmark Inc. now owns 1,274 shares of the medical technology company’s stock valued at $168,000 after buying an additional 4 shares during the last quarter. Finally, Daiwa SB Investments Ltd. purchased a new position in Stryker Corporation during the first quarter valued at about $170,000. 73.99% of the stock is currently owned by institutional investors and hedge funds.
Stryker Corporation (SYK) traded down 0.47% during midday trading on Thursday, hitting $144.50. 169,030 shares of the stock traded hands. Stryker Corporation has a one year low of $106.48 and a one year high of $148.84. The company’s 50 day moving average is $143.54 and its 200-day moving average is $135.29. The company has a market cap of $54.05 billion, a P/E ratio of 32.25 and a beta of 0.80.
Stryker Corporation (NYSE:SYK) last issued its quarterly earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same period in the previous year, the business posted $1.39 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts forecast that Stryker Corporation will post $6.50 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be paid a dividend of $0.425 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.17%. Stryker Corporation’s dividend payout ratio (DPR) is 37.95%.
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SYK has been the topic of several research reports. Jefferies Group LLC reissued a “hold” rating and issued a $132.00 target price on shares of Stryker Corporation in a research report on Thursday, April 13th. Piper Jaffray Companies reissued an “overweight” rating and issued a $148.00 target price on shares of Stryker Corporation in a research report on Monday, April 17th. Needham & Company LLC reissued a “sell” rating on shares of Stryker Corporation in a research report on Wednesday, April 26th. Royal Bank Of Canada reissued an “outperform” rating and issued a $140.00 target price (up from $135.00) on shares of Stryker Corporation in a research report on Wednesday, April 26th. Finally, Cowen and Company set a $150.00 target price on Stryker Corporation and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company. Stryker Corporation has an average rating of “Hold” and a consensus price target of $144.03.
In other news, insider David Floyd sold 7,381 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $144.70, for a total transaction of $1,068,030.70. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Lonny J. Carpenter sold 5,000 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $146.36, for a total transaction of $731,800.00. Following the transaction, the insider now owns 88,207 shares in the company, valued at $12,909,976.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,810 shares of company stock worth $4,754,958. Company insiders own 7.40% of the company’s stock.
About Stryker Corporation
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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