Sigma Investment Counselors Inc. lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 0.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,155 shares of the medical technology company’s stock after purchasing an additional 366 shares during the quarter. Stryker comprises about 1.2% of Sigma Investment Counselors Inc.’s investment portfolio, making the stock its 19th biggest position. Sigma Investment Counselors Inc.’s holdings in Stryker were worth $10,416,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Massey Quick Simon & CO. LLC purchased a new position in Stryker in the second quarter valued at about $27,000. Ossiam purchased a new position in Stryker in the second quarter valued at about $33,000. Garrett Wealth Advisory Group LLC purchased a new position in Stryker in the third quarter valued at about $35,000. Stonebridge Capital Advisors LLC purchased a new position in Stryker in the second quarter valued at about $39,000. Finally, Webster Bank N. A. raised its position in Stryker by 300.0% in the second quarter. Webster Bank N. A. now owns 200 shares of the medical technology company’s stock valued at $41,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 73.04% of the company’s stock.
Several research analysts have commented on the company. Cantor Fitzgerald raised their price objective on Stryker from $190.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Zacks Investment Research raised Stryker from a “hold” rating to a “buy” rating and set a $225.00 price objective on the stock in a research report on Monday, July 29th. ValuEngine lowered Stryker from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Morgan Stanley raised their price objective on Stryker from $218.00 to $230.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Finally, Robert W. Baird raised their price objective on Stryker from $206.00 to $239.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Stryker currently has an average rating of “Buy” and an average target price of $214.89.
Shares of NYSE SYK traded down $0.24 during midday trading on Friday, reaching $215.32. 861,809 shares of the company’s stock were exchanged, compared to its average volume of 1,126,118. Stryker Co. has a 52-week low of $144.75 and a 52-week high of $223.45. The stock has a market capitalization of $80.64 billion, a PE ratio of 29.46, a price-to-earnings-growth ratio of 2.61 and a beta of 0.81. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 2.07. The business’s fifty day moving average price is $216.70 and its two-hundred day moving average price is $203.65.
Stryker (NYSE:SYK) last announced its earnings results on Thursday, July 25th. The medical technology company reported $1.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.93 by $0.05. Stryker had a return on equity of 25.98% and a net margin of 24.99%. The business had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same period in the previous year, the company earned $1.76 earnings per share. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. Analysts predict that Stryker Co. will post 8.21 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Friday, September 27th. Stryker’s payout ratio is 28.45%.
Stryker Company Profile
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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