Concentric Wealth Management LLC lowered its stake in shares of Stryker Corporation (NYSE:SYK) by 5.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,013 shares of the medical technology company’s stock after selling 760 shares during the period. Stryker accounts for about 1.5% of Concentric Wealth Management LLC’s investment portfolio, making the stock its 28th biggest holding. Concentric Wealth Management LLC’s holdings in Stryker were worth $2,015,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. WFG Advisors LP grew its position in Stryker by 1.6% during the 2nd quarter. WFG Advisors LP now owns 2,041 shares of the medical technology company’s stock worth $283,000 after purchasing an additional 32 shares during the period. Advisory Services Network LLC grew its position in shares of Stryker by 1.8% during the 2nd quarter. Advisory Services Network LLC now owns 3,398 shares of the medical technology company’s stock valued at $472,000 after acquiring an additional 59 shares during the period. Linscomb & Williams Inc. grew its position in shares of Stryker by 1.2% during the 2nd quarter. Linscomb & Williams Inc. now owns 10,486 shares of the medical technology company’s stock valued at $1,455,000 after acquiring an additional 121 shares during the period. Cornerstone Capital Management Holdings LLC. lifted its stake in Stryker by 0.3% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 53,572 shares of the medical technology company’s stock valued at $7,434,000 after buying an additional 135 shares in the last quarter. Finally, Optimum Investment Advisors lifted its stake in Stryker by 4.5% in the 2nd quarter. Optimum Investment Advisors now owns 3,475 shares of the medical technology company’s stock valued at $482,000 after buying an additional 150 shares in the last quarter. Institutional investors own 74.71% of the company’s stock.
A number of research analysts recently weighed in on SYK shares. Robert W. Baird raised shares of 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 note on Thursday, November 16th. SunTrust Banks restated a “buy” rating and set a $161.00 price target on shares of Stryker in a report on Friday, November 17th. Wells Fargo & Co raised their price target on shares of Stryker from $160.00 to $166.00 in a report on Friday, October 27th. Barclays lifted their target price on shares of Stryker from $137.00 to $148.00 and gave the company an “underweight” rating in a report on Friday, October 27th. Finally, Leerink Swann lifted their target price on shares of Stryker from $177.00 to $184.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the stock. Stryker presently has a consensus rating of “Hold” and a consensus target price of $162.50.
Shares of Stryker Corporation (SYK) traded up $0.57 on Wednesday, reaching $155.13. 493,543 shares of the company’s stock traded hands, compared to its average volume of 1,427,584. Stryker Corporation has a one year low of $124.61 and a one year high of $170.00. The firm has a market capitalization of $57,567.49, a price-to-earnings ratio of 57.67, a P/E/G ratio of 2.21 and a beta of 0.70. The company has a quick ratio of 1.59, a current ratio of 2.29 and a debt-to-equity ratio of 0.66.
Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $1.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.95 by $0.01. The company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.42 billion. Stryker had a net margin of 8.20% and a return on equity of 24.56%. Stryker’s revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.78 earnings per share. sell-side analysts predict that Stryker Corporation will post 7.12 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Thursday, March 29th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Wednesday, March 28th. Stryker’s payout ratio is currently 70.15%.
In related news, insider Graham A. Mclean sold 2,984 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $160.53, for a total transaction of $479,021.52. Following the completion of the sale, the insider now directly owns 9,100 shares of the company’s stock, valued at approximately $1,460,823. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Howard E. Cox, Jr. sold 7,400 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $164.09, for a total transaction of $1,214,266.00. The disclosure for this sale can be found here. Insiders sold 16,840 shares of company stock valued at $2,749,989 in the last three months. Company insiders own 7.40% of the company’s stock.
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Stryker 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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