IFM Investors Pty Ltd increased its position in shares of Stryker Co. (NYSE:SYK) by 12.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,809 shares of the medical technology company’s stock after purchasing an additional 3,006 shares during the period. IFM Investors Pty Ltd’s holdings in Stryker were worth $5,795,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in SYK. Evolution Wealth Advisors LLC lifted its holdings in Stryker by 64.4% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 143 shares of the medical technology company’s stock worth $26,000 after purchasing an additional 56 shares during the last quarter. Balentine LLC bought a new position in Stryker during the 1st quarter worth $31,000. Demars Financial Group LLC bought a new position in Stryker during the 2nd quarter worth $32,000. NuWave Investment Management LLC bought a new position in Stryker during the 2nd quarter worth $35,000. Finally, Campbell Wealth Management bought a new position in Stryker during the 2nd quarter worth $45,000. 71.02% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Kevin Lobo sold 25,855 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $190.80, for a total transaction of $4,933,134.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 6.80% of the stock is currently owned by corporate insiders.
Stryker (NYSE:SYK) last announced its quarterly earnings data 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. The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.63 billion. Stryker had a return on equity of 20.53% and a net margin of 11.38%. As a group, research analysts anticipate that Stryker Co. will post 6.29 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Tuesday, September 29th. Stryker’s dividend payout ratio (DPR) is currently 27.85%.
SYK has been the topic of a number of recent research reports. Northland Securities initiated coverage on Stryker in a research note on Tuesday, October 6th. They set a “market perform” rating and a $225.00 price objective on the stock. Citigroup raised their price objective on Stryker from $227.00 to $232.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Needham & Company LLC restated a “hold” rating on shares of Stryker in a research note on Friday, July 31st. Credit Suisse Group lifted their price target on Stryker from $237.00 to $243.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Finally, SVB Leerink lifted their price target on Stryker from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen 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 an average target price of $219.50.
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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