Conning Inc. decreased its stake in Stryker Corporation (NYSE:SYK) by 0.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,747 shares of the medical technology company’s stock after selling 20 shares during the period. Conning Inc.’s holdings in Stryker Corporation were worth $2,185,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in Stryker Corporation by 2,526.4% during the first quarter. BlackRock Inc. now owns 21,976,771 shares of the medical technology company’s stock worth $2,893,242,000 after purchasing an additional 21,140,000 shares during the period. Vanguard Group Inc. grew its holdings in Stryker Corporation by 5.2% during the first quarter. Vanguard Group Inc. now owns 23,421,053 shares of the medical technology company’s stock worth $3,083,382,000 after purchasing an additional 1,161,688 shares during the period. PNC Financial Services Group Inc. grew its holdings in Stryker Corporation by 41.9% during the first quarter. PNC Financial Services Group Inc. now owns 1,403,420 shares of the medical technology company’s stock worth $184,759,000 after purchasing an additional 414,715 shares during the period. SG Americas Securities LLC grew its holdings in Stryker Corporation by 600.6% during the first quarter. SG Americas Securities LLC now owns 412,340 shares of the medical technology company’s stock worth $54,285,000 after purchasing an additional 353,486 shares during the period. Finally, Morgan Stanley grew its holdings in Stryker Corporation by 17.9% during the first quarter. Morgan Stanley now owns 2,144,472 shares of the medical technology company’s stock worth $282,320,000 after purchasing an additional 325,661 shares during the period. Institutional investors own 74.18% of the company’s stock.
Shares of Stryker Corporation (NYSE:SYK) opened at 143.53 on Wednesday. Stryker Corporation has a 52-week low of $106.48 and a 52-week high of $148.84. The firm has a market capitalization of $53.69 billion, a P/E ratio of 32.04 and a beta of 0.81. The stock has a 50 day moving average of $143.99 and a 200-day moving average of $138.37.
Stryker Corporation (NYSE:SYK) last released its quarterly earnings data on Thursday, July 27th. The medical technology company reported $1.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.02. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.98 billion. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. Stryker Corporation’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the firm earned $1.39 EPS. Equities analysts expect that Stryker Corporation will post $6.46 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Thursday, September 28th. Stryker Corporation’s dividend payout ratio (DPR) is presently 37.95%.
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A number of research firms recently commented on SYK. BidaskClub upgraded Stryker Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Cowen and Company reiterated a “buy” rating and set a $160.00 price target (up previously from $150.00) on shares of Stryker Corporation in a report on Sunday, July 30th. Zacks Investment Research cut Stryker Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. Canaccord Genuity reiterated a “buy” rating and set a $155.00 price target (down previously from $158.00) on shares of Stryker Corporation in a report on Thursday, August 24th. Finally, Oppenheimer Holdings, Inc. set a $148.00 price target on Stryker Corporation and gave the stock a “hold” rating in a report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. Stryker Corporation presently has a consensus rating of “Hold” and a consensus price target of $145.73.
In related news, insider David Floyd sold 19,305 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $144.56, for a total value of $2,790,730.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lonny J. Carpenter sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $146.36, for a total transaction of $731,800.00. Following the completion of the transaction, the insider now directly owns 88,207 shares of the company’s stock, valued at $12,909,976.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,429 shares of company stock valued at $3,686,927. 7.40% of the stock is owned by insiders.
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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