ETRADE Capital Management LLC lowered its stake in shares of Stryker Corporation (NYSE:SYK) by 2.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,016 shares of the medical technology company’s stock after selling 117 shares during the quarter. ETRADE Capital Management LLC’s holdings in Stryker Corporation were worth $557,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SYK. Acrospire Investment Management LLC acquired a new stake in Stryker Corporation in the second quarter valued at about $111,000. Motco lifted its position in Stryker Corporation by 50.7% in the second quarter. Motco now owns 826 shares of the medical technology company’s stock valued at $115,000 after purchasing an additional 278 shares during the period. Bollard Group LLC lifted its position in Stryker Corporation by 0.4% in the second quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock valued at $115,000 after purchasing an additional 3 shares during the period. Bruderman Asset Management LLC acquired a new stake in Stryker Corporation in the second quarter valued at about $150,000. Finally, James Investment Research Inc. acquired a new stake in Stryker Corporation in the second quarter valued at about $155,000. 74.13% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently commented on SYK. Cowen and Company set a $160.00 price objective on shares of Stryker Corporation and gave the company a “buy” rating in a research report on Friday, October 6th. Royal Bank Of Canada reiterated a “buy” rating and set a $155.00 price target on shares of Stryker Corporation in a research report on Monday, October 2nd. SunTrust Banks, Inc. reiterated a “buy” rating and set a $161.00 price target on shares of Stryker Corporation in a research report on Monday, October 2nd. Argus reiterated a “buy” rating and set a $160.00 price target on shares of Stryker Corporation in a research report on Tuesday, August 29th. Finally, BidaskClub downgraded shares of Stryker Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, August 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $146.78.
In other Stryker Corporation news, insider Graham A. Mclean sold 1,124 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $146.26, for a total value of $164,396.24. Following the completion of the sale, the insider now owns 8,983 shares in the company, valued at approximately $1,313,853.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Lonny J. Carpenter sold 5,000 shares of the 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 sale, the insider now owns 88,207 shares of the company’s stock, valued at approximately $12,909,976.52. The disclosure for this sale can be found here. 7.40% of the stock is currently owned by corporate insiders.
Shares of Stryker Corporation (NYSE SYK) opened at 146.56 on Friday. The stock has a market capitalization of $54.82 billion, a PE ratio of 32.71 and a beta of 0.80. Stryker Corporation has a 1-year low of $106.48 and a 1-year high of $149.23. The firm has a 50-day moving average of $142.74 and a 200 day moving average of $140.38.
Stryker Corporation (NYSE:SYK) last issued its quarterly earnings results on Thursday, July 27th. The medical technology company reported $1.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.02. The business 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%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.39 EPS. On average, equities analysts anticipate that Stryker Corporation will post $6.45 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be given a $0.425 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.70 annualized dividend and a dividend yield of 1.16%. Stryker Corporation’s dividend payout ratio (DPR) is presently 37.95%.
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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