Everett Harris & Co. CA raised its stake in Stryker Co. (NYSE:SYK) by 33.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 7,645 shares of the medical technology company’s stock after purchasing an additional 1,902 shares during the period. Everett Harris & Co. CA’s holdings in Stryker were worth $1,378,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. Sofos Investments Inc. increased its position in Stryker by 160.0% during the first quarter. Sofos Investments Inc. now owns 728 shares of the medical technology company’s stock worth $26,000 after acquiring an additional 448 shares during the period. Evolution Wealth Advisors LLC increased its position in Stryker by 64.4% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 143 shares of the medical technology company’s stock valued at $26,000 after acquiring an additional 56 shares during the period. WASHINGTON TRUST Co bought a new position in shares of Stryker during the first quarter valued at $28,000. Filbrandt Wealth Management LLC acquired a new position in shares of Stryker during the first quarter worth $30,000. Finally, Ballast Advisors LLC bought a new stake in shares of Stryker in the first quarter worth $31,000. Institutional investors and hedge funds own 71.24% of the company’s stock.
Several research analysts have commented on the company. Raymond James cut their target price on Stryker from $240.00 to $205.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. Argus reduced their target price on Stryker from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Zacks Investment Research cut shares of Stryker from a “hold” rating to a “sell” rating and set a $190.00 price objective for the company. in a research report on Monday, May 4th. Barclays downgraded Stryker from an “equal weight” rating to an “underweight” rating and set a $155.00 target price for the company. in a report on Monday, April 13th. Finally, Oppenheimer restated a “hold” rating and set a $215.00 price target on shares of Stryker in a report on Friday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $216.25.
Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, July 30th. The medical technology company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. Stryker had a return on equity of 20.53% and a net margin of 11.38%. The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.63 billion. As a group, research analysts anticipate that Stryker Co. will post 6.25 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be paid a $0.575 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $2.30 annualized dividend and a dividend yield of 1.19%. Stryker’s payout ratio is 27.85%.
In other news, CFO Glenn S. Boehnlein sold 10,351 shares of Stryker stock in a transaction on Monday, June 15th. The stock was sold at an average price of $185.24, for a total transaction of $1,917,419.24. Following the sale, the chief financial officer now directly owns 16,321 shares in the company, valued at approximately $3,023,302.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Katherine Ann Owen sold 9,149 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $186.79, for a total transaction of $1,708,941.71. Following the sale, the vice president now owns 1,085 shares of the company’s stock, valued at approximately $202,667.15. The disclosure for this sale can be found here. Insiders have sold 30,670 shares of company stock worth $5,775,251 over the last three months. 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 for use in various medical specialties.
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