Toronto Dominion Bank lowered its stake in Stryker Co. (NYSE:SYK) by 26.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215,222 shares of the medical technology company’s stock after selling 76,678 shares during the period. Toronto Dominion Bank owned 0.06% of Stryker worth $38,782,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of SYK. Evolution Wealth Advisors LLC increased its position in shares of Stryker by 64.4% during the second quarter. Evolution Wealth Advisors LLC now owns 143 shares of the medical technology company’s stock worth $26,000 after buying an additional 56 shares during the period. WASHINGTON TRUST Co acquired a new stake in shares of Stryker during the first quarter worth $28,000. Balentine LLC acquired a new stake in shares of Stryker during the first quarter worth $31,000. NuWave Investment Management LLC acquired a new stake in shares of Stryker during the second quarter worth $35,000. Finally, Campbell Wealth Management bought a new position in Stryker during the second quarter worth $45,000. 71.02% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on SYK. SVB Leerink increased their target price on shares of Stryker from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Credit Suisse Group increased their target price on shares of Stryker from $237.00 to $243.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Oppenheimer reissued a “hold” rating and set a $215.00 target price on shares of Stryker in a research note on Friday, July 31st. Wolfe Research began coverage on shares of Stryker in a research note on Friday, September 11th. They set a “market perform” rating and a $230.00 target price on the stock. Finally, Citigroup increased their target price on shares of Stryker from $227.00 to $232.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $216.80.
Shares of SYK stock traded up $5.31 during trading on Wednesday, reaching $215.81. 83,019 shares of the company’s stock traded hands, compared to its average volume of 1,825,836. The firm’s 50-day moving average is $194.23 and its 200 day moving average is $184.38. The company has a market capitalization of $78.90 billion, a P/E ratio of 51.22, a PEG ratio of 3.47 and a beta of 0.83. Stryker Co. has a 1 year low of $124.54 and a 1 year high of $226.30. The company has a current ratio of 2.91, a quick ratio of 2.12 and a debt-to-equity ratio of 0.93.
Stryker (NYSE:SYK) last issued its earnings results on Thursday, July 30th. The medical technology company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. Stryker had a net margin of 11.38% and a return on equity of 20.53%. The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.63 billion. As a group, sell-side analysts predict that Stryker Co. will post 6.29 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.575 per share. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $2.30 dividend on an annualized basis and a yield of 1.07%. Stryker’s dividend payout ratio (DPR) is 27.85%.
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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