CX Institutional reduced its stake in shares of Stryker Co. (NYSE:SYK) by 51.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,268 shares of the medical technology company’s stock after selling 1,352 shares during the quarter. CX Institutional’s holdings in Stryker were worth $311,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Slow Capital Inc. bought a new position in shares of Stryker in the 3rd quarter worth about $27,000. Fortis Group Advisors LLC bought a new stake in shares of Stryker during the 3rd quarter worth about $30,000. Demars Financial Group LLC bought a new stake in shares of Stryker during the 2nd quarter worth about $32,000. Tarbox Family Office Inc. raised its position in shares of Stryker by 43.3% during the 3rd quarter. Tarbox Family Office Inc. now owns 192 shares of the medical technology company’s stock worth $40,000 after buying an additional 58 shares in the last quarter. Finally, BNC Wealth Management LLC bought a new stake in shares of Stryker during the 3rd quarter worth about $42,000. Institutional investors own 71.02% of the company’s stock.
SYK has been the topic of a number of recent analyst reports. Northland Securities initiated coverage on shares of Stryker in a research report on Tuesday, October 6th. They set a “market perform” rating and a $225.00 price target on the stock. Truist raised their price target on shares of Stryker from $210.00 to $245.00 in a report on Wednesday, January 6th. Raymond James raised their price target on shares of Stryker from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Monday, October 12th. Morgan Stanley raised their price target on shares of Stryker from $225.00 to $272.00 and gave the stock an “overweight” rating in a report on Tuesday, December 15th. Finally, Guggenheim initiated coverage on shares of Stryker in a research note on Monday, January 4th. They issued a “neutral” rating for the company. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Stryker presently has a consensus rating of “Buy” and a consensus price target of $225.92.
Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, October 29th. The medical technology company reported $2.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.74. The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.41 billion. Stryker had a net margin of 11.38% and a return on equity of 20.53%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.91 EPS. Analysts predict that Stryker Co. will post 6.33 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 29th. Stockholders of record on Thursday, December 31st will be issued a $0.63 dividend. This is a positive change from Stryker’s previous quarterly dividend of $0.58. The ex-dividend date is Wednesday, December 30th. This represents a $2.52 annualized dividend and a dividend yield of 1.04%. Stryker’s dividend payout ratio is presently 30.51%.
In other news, CFO Glenn S. Boehnlein sold 2,000 shares of the company’s stock in a transaction dated Monday, December 28th. The shares were sold at an average price of $239.10, for a total value of $478,200.00. Following the sale, the chief financial officer now owns 14,321 shares of the company’s stock, valued at approximately $3,424,151.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Timothy J. Scannell sold 5,000 shares of the company’s stock in a transaction dated Monday, November 23rd. The stock was sold at an average price of $232.61, for a total transaction of $1,163,050.00. In the last ninety days, insiders sold 17,697 shares of company stock worth $4,168,737. 6.80% of the stock is owned by insiders.
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 that are used in various medical specialties.
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