Garner Asset Management Corp bought a new stake in shares of Stryker Corporation (NYSE:SYK) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,217 shares of the medical technology company’s stock, valued at approximately $447,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Lockheed Martin Investment Management Co. purchased a new stake in Stryker Corporation in the 2nd quarter worth about $1,249,000. JLB & Associates Inc. purchased a new stake in Stryker Corporation in the 2nd quarter worth about $5,090,000. JPMorgan Chase & Co. raised its position in Stryker Corporation by 276.9% in the 1st quarter. JPMorgan Chase & Co. now owns 269,555 shares of the medical technology company’s stock worth $35,487,000 after purchasing an additional 198,035 shares during the period. BB&T Corp raised its position in Stryker Corporation by 5.7% in the 2nd quarter. BB&T Corp now owns 56,546 shares of the medical technology company’s stock worth $7,847,000 after purchasing an additional 3,060 shares during the period. Finally, Hartland & Co. LLC raised its position in Stryker Corporation by 1.4% in the 1st quarter. Hartland & Co. LLC now owns 1,860 shares of the medical technology company’s stock worth $245,000 after purchasing an additional 25 shares during the period. Hedge funds and other institutional investors own 74.09% of the company’s stock.
In other Stryker Corporation news, insider Lonny J. Carpenter sold 5,000 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $146.36, for a total transaction of $731,800.00. Following the sale, the insider now owns 88,207 shares in the company, valued at approximately $12,909,976.52. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Graham A. Mclean sold 1,124 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $146.26, for a total value of $164,396.24. Following the sale, the insider now owns 8,983 shares in the company, valued at approximately $1,313,853.58. The disclosure for this sale can be found here. 7.40% of the stock is currently owned by insiders.
A number of analysts recently weighed in on SYK shares. Wells Fargo & Company increased their price objective on shares of Stryker Corporation from $160.00 to $166.00 in a research report on Friday. Zacks Investment Research upgraded shares of Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 target price on the stock in a research note on Monday, July 17th. Cowen and Company restated a “buy” rating and issued a $160.00 target price (up from $150.00) on shares of Stryker Corporation in a research note on Sunday, July 30th. Stifel Nicolaus upped their target price on shares of Stryker Corporation from $151.00 to $158.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Finally, BidaskClub upgraded shares of Stryker Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $150.86.
Shares of Stryker Corporation (SYK) traded up 5.85% on Friday, hitting $157.53. 1,544,705 shares of the company traded hands. The stock’s 50-day moving average price is $144.88 and its 200-day moving average price is $141.56. Stryker Corporation has a 12 month low of $106.48 and a 12 month high of $159.20. The company has a market capitalization of $58.93 billion, a PE ratio of 35.16 and a beta of 0.80.
Stryker Corporation (NYSE:SYK) last issued its quarterly earnings data on Thursday, October 26th. The medical technology company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.02. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. The business had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.97 billion. During the same period in the previous year, the business earned $1.39 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. On average, equities analysts predict that Stryker Corporation will post $6.44 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, September 28th. Stryker Corporation’s dividend payout ratio (DPR) is presently 37.95%.
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Stryker Corporation Company Profile
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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