Zurich Insurance Group Ltd FI lowered its stake in shares of Stryker Corporation (NYSE:SYK) by 20.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,775 shares of the medical technology company’s stock after selling 11,831 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Stryker Corporation were worth $6,214,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SYK. BlackRock Inc. boosted its stake in Stryker Corporation by 2,526.4% during the first quarter. BlackRock Inc. now owns 21,976,771 shares of the medical technology company’s stock worth $2,893,242,000 after buying an additional 21,140,000 shares during the last quarter. Vanguard Group Inc. boosted its stake in Stryker Corporation by 5.2% during the first quarter. Vanguard Group Inc. now owns 23,421,053 shares of the medical technology company’s stock worth $3,083,382,000 after buying an additional 1,161,688 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Stryker Corporation by 41.9% during the first quarter. PNC Financial Services Group Inc. now owns 1,403,420 shares of the medical technology company’s stock worth $184,759,000 after buying an additional 414,715 shares during the last quarter. SG Americas Securities LLC raised its position in Stryker Corporation by 600.6% in the first quarter. SG Americas Securities LLC now owns 412,340 shares of the medical technology company’s stock valued at $54,285,000 after purchasing an additional 353,486 shares during the period. Finally, Morgan Stanley raised its position in Stryker Corporation by 17.9% in the first quarter. Morgan Stanley now owns 2,144,472 shares of the medical technology company’s stock valued at $282,320,000 after purchasing an additional 325,661 shares during the period. 74.09% of the stock is currently owned by institutional investors.
In related news, insider Lonny J. Carpenter sold 5,000 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were 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 in the company, valued at $12,909,976.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Graham A. Mclean sold 1,124 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $146.26, for a total transaction of $164,396.24. Following the sale, the insider now owns 8,983 shares in the company, valued at $1,313,853.58. The disclosure for this sale can be found here. Company insiders own 7.40% of the company’s stock.
SYK has been the topic of a number of research analyst reports. Jefferies Group LLC restated a “hold” rating and issued a $132.00 target price on shares of Stryker Corporation in a research report on Friday, June 30th. Morgan Stanley restated an “overweight” rating and issued a $160.00 target price (up previously from $155.00) on shares of Stryker Corporation in a research report on Monday, July 10th. BMO Capital Markets restated a “hold” rating and issued a $140.00 target price on shares of Stryker Corporation in a research report on Tuesday, July 11th. Zacks Investment Research upgraded Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 target price on the stock in a research report on Monday, July 17th. Finally, Royal Bank Of Canada lifted their target price on Stryker Corporation from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $150.86.
Shares of Stryker Corporation (SYK) traded up 7.34% during mid-day trading on Friday, hitting $159.74. The company had a trading volume of 3,209,927 shares. Stryker Corporation has a 52-week low of $106.48 and a 52-week high of $160.62. The stock has a market cap of $59.75 billion, a price-to-earnings ratio of 35.66 and a beta of 0.80. The stock’s 50-day moving average is $144.88 and its 200-day moving average is $141.56.
Stryker Corporation (NYSE:SYK) last released its quarterly earnings results on Thursday, October 26th. The medical technology company reported $1.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.02. Stryker Corporation had a net margin of 14.67% and a return on equity of 24.52%. 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 prior year, the firm earned $1.39 earnings per share. Stryker Corporation’s revenue was up 6.1% compared to the same quarter last year. Equities analysts forecast that Stryker Corporation will post $6.44 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be paid a $0.425 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.70 dividend on an annualized basis and a yield of 1.06%. Stryker Corporation’s payout ratio is presently 36.32%.
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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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