First Manhattan Co. lessened its stake in Stryker Corporation (NYSE:SYK) by 2.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 281,345 shares of the medical technology company’s stock after selling 7,650 shares during the quarter. First Manhattan Co. owned about 0.08% of Stryker worth $43,563,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of SYK. Acrospire Investment Management LLC acquired a new position in Stryker during the second quarter valued at approximately $111,000. Motco boosted its position in Stryker by 50.7% during the second quarter. Motco now owns 826 shares of the medical technology company’s stock valued at $115,000 after purchasing an additional 278 shares during the last quarter. Sawyer & Company Inc acquired a new position in Stryker during the fourth quarter valued at approximately $125,000. Sit Investment Associates Inc. boosted its position in Stryker by 114.3% during the fourth quarter. Sit Investment Associates Inc. now owns 825 shares of the medical technology company’s stock valued at $128,000 after purchasing an additional 440 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA boosted its position in Stryker by 47.8% during the third quarter. San Francisco Sentry Investment Group CA now owns 1,005 shares of the medical technology company’s stock valued at $143,000 after purchasing an additional 325 shares during the last quarter. 74.71% of the stock is owned by hedge funds and other institutional investors.
In related news, VP William E. Berry, Jr. sold 1,306 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $164.42, for a total value of $214,732.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Graham A. Mclean sold 2,984 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $160.53, for a total value 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 $1,460,823. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,840 shares of company stock valued at $2,749,989. 7.40% of the stock is owned by corporate insiders.
Several analysts have issued reports on SYK shares. Zacks Investment Research upgraded Stryker from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Robert W. Baird reiterated a “hold” rating and set a $161.00 target price on shares of Stryker in a research note on Friday, October 27th. Piper Jaffray Companies reiterated a “buy” rating and set a $156.00 target price on shares of Stryker in a research note on Friday, October 27th. Wells Fargo & Co increased their target price on Stryker from $160.00 to $166.00 in a research note on Friday, October 27th. Finally, Stifel Nicolaus increased their target price on Stryker from $158.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $162.50.
Stryker Corporation (SYK) traded up $1.68 during midday trading on Wednesday, hitting $156.24. The company had a trading volume of 1,790,634 shares, compared to its average volume of 1,470,000. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.59 and a current ratio of 2.29. Stryker Corporation has a 12 month low of $123.84 and a 12 month high of $170.00. The firm has a market cap of $58,470.00, a P/E ratio of 58.30, a price-to-earnings-growth ratio of 2.21 and a beta of 0.70.
Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $1.96 earnings per share for the quarter, beating the Thomson Reuters’ 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 return on equity of 24.56% and a net margin of 8.20%. Stryker’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the business posted $1.78 EPS. equities research analysts anticipate that Stryker Corporation will post 7.12 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Thursday, March 29th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Wednesday, March 28th. Stryker’s dividend payout ratio is currently 70.15%.
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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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