Suncoast Equity Management lifted its position in shares of Stryker Co. (NYSE:SYK) by 1.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,160 shares of the medical technology company’s stock after buying an additional 1,158 shares during the period. Stryker comprises 3.5% of Suncoast Equity Management’s investment portfolio, making the stock its 16th largest position. Suncoast Equity Management’s holdings in Stryker were worth $13,221,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Truewealth LLC purchased a new position in shares of Stryker during the 4th quarter valued at about $110,000. Virtue Capital Management LLC purchased a new position in shares of Stryker during the 4th quarter valued at about $133,000. Bruderman Asset Management LLC purchased a new position in shares of Stryker during the 1st quarter valued at about $152,000. Dubuque Bank & Trust Co. purchased a new position in Stryker in the 4th quarter worth approximately $164,000. Finally, Independence Bank of Kentucky purchased a new position in Stryker in the 4th quarter worth approximately $181,000. 74.93% of the stock is currently owned by institutional investors.
Stryker opened at $173.78 on Friday, according to MarketBeat Ratings. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.08 and a current ratio of 1.64. Stryker Co. has a 52-week low of $137.70 and a 52-week high of $176.76. The company has a market cap of $64.94 billion, a PE ratio of 25.98, a price-to-earnings-growth ratio of 2.46 and a beta of 0.70.
Stryker (NYSE:SYK) last posted its earnings results on Thursday, April 26th. The medical technology company reported $1.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.08. Stryker had a return on equity of 25.65% and a net margin of 8.00%. The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.20 billion. During the same period in the previous year, the firm earned $1.48 earnings per share. The business’s revenue was up 9.7% compared to the same quarter last year. equities analysts anticipate that Stryker Co. will post 7.23 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 31st. Stockholders of record on Friday, June 29th will be paid a dividend of $0.47 per share. The ex-dividend date is Thursday, June 28th. This represents a $1.88 annualized dividend and a dividend yield of 1.08%. Stryker’s dividend payout ratio (DPR) is presently 28.97%.
In related news, CFO Glenn S. Boehnlein sold 750 shares of Stryker stock in a transaction that occurred on Monday, April 16th. The stock was sold at an average price of $160.00, for a total transaction of $120,000.00. Following the sale, the chief financial officer now directly owns 3,535 shares in the company, valued at $565,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David Floyd sold 55,119 shares of Stryker stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold 134,200 shares of company stock worth $22,151,180 over the last three months. Insiders own 7.40% of the company’s stock.
A number of equities analysts have commented on SYK shares. Leerink Swann lifted their price target on Stryker from $177.00 to $184.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Stryker in a research note on Wednesday, January 31st. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $163.00 price target on shares of Stryker in a research note on Tuesday, January 30th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $170.00 price target on shares of Stryker in a research note on Wednesday, January 31st. Finally, Guggenheim reaffirmed a “buy” rating on shares of Stryker in a research note on Wednesday, January 31st. One analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $171.40.
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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