Argent Trust Co cut its stake in Stryker Co. (NYSE:SYK) by 9.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,211 shares of the medical technology company’s stock after selling 677 shares during the quarter. Argent Trust Co’s holdings in Stryker were worth $962,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Signature Estate & Investment Advisors LLC grew its position in shares of Stryker by 5.7% in the 4th quarter. Signature Estate & Investment Advisors LLC now owns 14,958 shares of the medical technology company’s stock worth $2,316,000 after buying an additional 804 shares during the period. Cornerstone Capital Management Holdings LLC. grew its position in shares of Stryker by 3.1% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 55,255 shares of the medical technology company’s stock worth $7,847,000 after buying an additional 1,683 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in shares of Stryker in the 3rd quarter worth about $538,000. State of Alaska Department of Revenue grew its position in shares of Stryker by 216.4% in the 4th quarter. State of Alaska Department of Revenue now owns 48,095 shares of the medical technology company’s stock worth $7,445,000 after buying an additional 32,892 shares during the period. Finally, Nuance Investments LLC grew its position in shares of Stryker by 10.8% in the 3rd quarter. Nuance Investments LLC now owns 24,624 shares of the medical technology company’s stock worth $3,497,000 after buying an additional 2,406 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.
Shares of Stryker stock traded down $4.90 on Friday, hitting $155.17. 929,540 shares of the company traded hands, compared to its average volume of 1,128,041. The stock has a market cap of $59,968.95, a P/E ratio of 23.91, a PEG ratio of 2.30 and a beta of 0.70. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.29 and a quick ratio of 1.59. Stryker Co. has a 52 week low of $129.82 and a 52 week high of $170.00.
Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.01. The firm had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.42 billion. Stryker had a net margin of 8.20% and a return on equity of 24.56%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.78 earnings per share. equities analysts expect that Stryker Co. will post 7.12 EPS for the current year.
The business 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 dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Wednesday, March 28th. Stryker’s payout ratio is currently 28.97%.
Several analysts recently commented on SYK shares. Royal Bank of Canada reissued a “buy” rating and set a $175.00 price objective on shares of Stryker in a research report on Tuesday, January 9th. SunTrust Banks reissued a “buy” rating and set a $179.00 price objective (up from $161.00) on shares of Stryker in a research report on Friday, January 26th. Guggenheim reissued a “buy” rating on shares of Stryker in a research report on Wednesday, January 31st. Piper Jaffray reissued a “buy” rating and set a $170.00 price objective on shares of Stryker in a research report on Wednesday, January 31st. Finally, ValuEngine raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $164.77.
In related news, insider David Floyd sold 55,119 shares of the firm’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $166.58, for a total value of $9,181,723.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, 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. In the last quarter, insiders have sold 142,489 shares of company stock worth $23,488,485. Company insiders own 7.40% of the company’s stock.
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Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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