Covington Capital Management decreased its position in shares of Stryker Co. (NYSE:SYK) by 2.1% during the 4th quarter, HoldingsChannel reports. The fund owned 127,025 shares of the medical technology company’s stock after selling 2,749 shares during the period. Stryker accounts for about 1.2% of Covington Capital Management’s holdings, making the stock its 18th largest position. Covington Capital Management’s holdings in Stryker were worth $19,669,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Truewealth LLC acquired a new position in Stryker during the 4th quarter worth about $110,000. Sawyer & Company Inc acquired a new position in Stryker during the 4th quarter worth about $125,000. Sit Investment Associates Inc. lifted its stake in Stryker by 114.3% during the 4th quarter. Sit Investment Associates Inc. now owns 825 shares of the medical technology company’s stock worth $128,000 after acquiring an additional 440 shares in the last quarter. Virtue Capital Management LLC acquired a new position in Stryker during the 4th quarter worth about $133,000. Finally, San Francisco Sentry Investment Group CA lifted its stake in Stryker by 47.8% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 1,005 shares of the medical technology company’s stock worth $143,000 after acquiring an additional 325 shares in the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Yin C. Becker sold 23,221 shares of the stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $165.96, for a total value of $3,853,757.16. Following the transaction, the vice president now owns 10,499 shares in the company, valued at approximately $1,742,414.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP William E. Berry, Jr. sold 1,306 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $164.42, for a total value of $214,732.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,611 shares of company stock worth $7,178,719. Company insiders own 7.40% of the company’s stock.
Stryker Co. (NYSE SYK) traded down $0.20 on Wednesday, hitting $166.91. The stock had a trading volume of 53,508 shares, compared to its average volume of 1,360,802. Stryker Co. has a fifty-two week low of $129.82 and a fifty-two week high of $170.00. The stock has a market cap of $62,898.64, a P/E ratio of 62.35, a P/E/G ratio of 2.41 and a beta of 0.70. The company has a current ratio of 2.29, a quick ratio of 1.59 and a debt-to-equity ratio of 0.66.
Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.01. Stryker had a return on equity of 24.56% and a net margin of 8.20%. The business had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter in the prior year, the business posted $1.78 EPS. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. analysts forecast that Stryker Co. will post 7.12 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Thursday, March 29th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.13%. Stryker’s payout ratio is currently 70.15%.
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Stryker Company Profile
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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