Beacon Investment Advisory Services Inc. acquired a new position in Stryker Corporation (NYSE:SYK) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 58,571 shares of the medical technology company’s stock, valued at approximately $8,318,000.
Other large investors have also added to or reduced their stakes in the company. Coldstream Capital Management Inc. increased its position in shares of Stryker by 3.7% in the second quarter. Coldstream Capital Management Inc. now owns 17,445 shares of the medical technology company’s stock valued at $2,421,000 after buying an additional 626 shares in the last quarter. Retirement Systems of Alabama increased its position in shares of Stryker by 2.5% in the third quarter. Retirement Systems of Alabama now owns 234,870 shares of the medical technology company’s stock valued at $33,356,000 after buying an additional 5,656 shares in the last quarter. Lockheed Martin Investment Management Co. purchased a new position in shares of Stryker in the second quarter valued at $1,249,000. Toronto Dominion Bank increased its position in shares of Stryker by 25.8% in the second quarter. Toronto Dominion Bank now owns 105,403 shares of the medical technology company’s stock valued at $14,625,000 after buying an additional 21,585 shares in the last quarter. Finally, Colonial Trust Advisors increased its position in shares of Stryker by 56.1% in the second quarter. Colonial Trust Advisors now owns 23,446 shares of the medical technology company’s stock valued at $3,254,000 after buying an additional 8,426 shares in the last quarter. Hedge funds and other institutional investors own 74.97% of the company’s stock.
Shares of Stryker Corporation (NYSE:SYK) traded up $0.78 during trading hours on Monday, reaching $151.93. The company’s stock had a trading volume of 688,000 shares, compared to its average volume of 1,178,901. The company has a current ratio of 2.37, a quick ratio of 1.61 and a debt-to-equity ratio of 0.63. Stryker Corporation has a 12-month low of $115.75 and a 12-month high of $160.62. The firm has a market cap of $56,857.92, a price-to-earnings ratio of 24.08, a price-to-earnings-growth ratio of 2.39 and a beta of 0.78.
Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.02. Stryker had a return on equity of 24.11% and a net margin of 14.67%. The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same period last year, the company earned $1.39 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. equities analysts predict that Stryker Corporation will post 6.47 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 1.24%. This is a positive change from Stryker’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, December 28th. Stryker’s dividend payout ratio (DPR) is presently 36.32%.
In other Stryker news, insider Lonny J. Carpenter sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $155.34, for a total value of $776,700.00. Following the sale, the insider now directly owns 83,207 shares of the company’s stock, valued at approximately $12,925,375.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 7.40% of the stock is currently owned by company insiders.
A number of research analysts have recently weighed in on SYK shares. Royal Bank Of Canada restated a “buy” rating and issued a $155.00 price target on shares of Stryker in a research report on Friday, September 1st. Robert W. Baird upgraded Stryker from a “neutral” rating to an “outperform” rating and raised their price target for the company from $161.00 to $173.00 in a research report on Thursday, November 16th. Argus restated a “buy” rating and issued a $160.00 price target on shares of Stryker in a research report on Tuesday, August 29th. Zacks Investment Research cut Stryker from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Finally, Stifel Nicolaus raised their price target on Stryker from $158.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $152.10.
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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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