Capital Research Global Investors trimmed its holdings in shares of Stryker Corporation (NYSE:SYK) by 0.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,785,055 shares of the medical technology company’s stock after selling 259,931 shares during the period. Stryker Corporation comprises approximately 1.3% of Capital Research Global Investors’ portfolio, making the stock its 15th largest position. Capital Research Global Investors owned about 8.23% of Stryker Corporation worth $4,272,350,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Optimum Investment Advisors lifted its holdings in Stryker Corporation by 4.5% in the second quarter. Optimum Investment Advisors now owns 3,475 shares of the medical technology company’s stock worth $482,000 after buying an additional 150 shares during the period. AHL Partners LLP lifted its holdings in Stryker Corporation by 271.1% in the second quarter. AHL Partners LLP now owns 79,929 shares of the medical technology company’s stock worth $11,093,000 after buying an additional 58,389 shares during the period. Salem Investment Counselors Inc. purchased a new stake in Stryker Corporation in the second quarter worth about $200,000. Sun Life Financial INC lifted its holdings in Stryker Corporation by 45,927.3% in the second quarter. Sun Life Financial INC now owns 10,126 shares of the medical technology company’s stock worth $1,408,000 after buying an additional 10,104 shares during the period. Finally, Institute for Wealth Management LLC. purchased a new stake in Stryker Corporation in the second quarter worth about $393,000. Institutional investors own 74.09% of the company’s stock.
Shares of Stryker Corporation (NYSE:SYK) traded up 7.34% on Friday, hitting $159.74. 3,209,927 shares of the stock traded hands. Stryker Corporation has a one year low of $106.48 and a one year high of $160.62. The company has a market cap of $59.75 billion, a PE ratio of 35.66 and a beta of 0.80. The stock has a 50 day moving average of $145.18 and a 200 day moving average of $141.69.
Stryker Corporation (NYSE:SYK) last released its earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.50 by $0.02. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.97 billion. Stryker Corporation had a net margin of 14.67% and a return on equity of 24.52%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.39 EPS. Equities analysts anticipate that Stryker Corporation will post $6.44 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be issued a $0.425 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.70 dividend on an annualized basis and a yield of 1.06%. Stryker Corporation’s dividend payout ratio (DPR) is 36.32%.
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SYK has been the subject of several research analyst reports. Wells Fargo & Company raised their price objective on shares of Stryker Corporation from $160.00 to $166.00 in a report on Friday. Cowen and Company reaffirmed a “buy” rating and set a $160.00 target price (up previously from $150.00) on shares of Stryker Corporation in a research note on Sunday, July 30th. Stifel Nicolaus raised their target price on shares of Stryker Corporation from $151.00 to $158.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research raised shares of Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 target price for the company in a research note on Monday, July 17th. Finally, BidaskClub raised 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 assigned a hold rating and twelve have given a buy rating to the stock. Stryker Corporation currently has an average rating of “Hold” and a consensus target price of $150.86.
In related news, insider Graham A. Mclean sold 1,124 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $146.26, for a total transaction of $164,396.24. Following the completion of the sale, the insider now owns 8,983 shares of the company’s stock, valued at approximately $1,313,853.58. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Lonny J. Carpenter sold 5,000 shares of the stock in a transaction that occurred on 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 directly owns 88,207 shares of the company’s stock, valued at approximately $12,909,976.52. The disclosure for this sale can be found here. Corporate insiders own 7.40% of the company’s stock.
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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