Iberiabank Corp lowered its position in shares of Stryker Co. (NYSE:SYK) by 47.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 2,423 shares of the medical technology company’s stock after selling 2,185 shares during the quarter. Iberiabank Corp’s holdings in Stryker were worth $431,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of SYK. Fundsmith Equity Fund L.P. acquired a new stake in Stryker during the 2nd quarter worth about $931,542,000. FMR LLC lifted its position in Stryker by 24.0% during the 2nd quarter. FMR LLC now owns 5,327,862 shares of the medical technology company’s stock worth $899,662,000 after acquiring an additional 1,032,333 shares during the period. Point72 Asset Management L.P. lifted its position in Stryker by 1,061.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 951,528 shares of the medical technology company’s stock worth $160,675,000 after acquiring an additional 869,568 shares during the period. BlackRock Inc. lifted its position in Stryker by 2.7% during the 2nd quarter. BlackRock Inc. now owns 24,551,677 shares of the medical technology company’s stock worth $4,145,795,000 after acquiring an additional 646,505 shares during the period. Finally, Summit Trail Advisors LLC lifted its position in Stryker by 26,609.0% during the 1st quarter. Summit Trail Advisors LLC now owns 315,700 shares of the medical technology company’s stock worth $316,000 after acquiring an additional 314,518 shares during the period. 75.11% of the stock is owned by institutional investors.
SYK has been the subject of a number of research reports. ValuEngine raised Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, June 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Stryker in a research report on Tuesday, September 11th. Canaccord Genuity reaffirmed a “buy” rating and set a $185.00 price target on shares of Stryker in a research report on Wednesday, July 25th. Royal Bank of Canada reaffirmed a “buy” rating and set a $184.00 price target on shares of Stryker in a research report on Wednesday, July 25th. Finally, Zacks Investment Research cut Stryker from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the stock. Stryker currently has a consensus rating of “Buy” and an average target price of $178.33.
In related news, VP Katherine Ann Owen sold 37,866 shares of the company’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $166.84, for a total value of $6,317,563.44. Following the completion of the transaction, the vice president now owns 11,367 shares of the company’s stock, valued at approximately $1,896,470.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Glenn S. Boehnlein sold 750 shares of the company’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $178.17, for a total value of $133,627.50. Following the completion of the transaction, the chief financial officer now directly owns 2,785 shares of the company’s stock, valued at approximately $496,203.45. The disclosure for this sale can be found here. Corporate insiders own 7.30% of the company’s stock.
Shares of SYK stock opened at $171.04 on Friday. The stock has a market capitalization of $66.45 billion, a PE ratio of 26.35, a P/E/G ratio of 2.49 and a beta of 0.59. The company has a quick ratio of 1.15, a current ratio of 1.83 and a debt-to-equity ratio of 0.63. Stryker Co. has a 52-week low of $146.10 and a 52-week high of $179.84.
Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, July 24th. The medical technology company reported $1.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.03. The business had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $3.31 billion. Stryker had a return on equity of 26.93% and a net margin of 8.28%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.53 EPS. As a group, equities research analysts expect that Stryker Co. will post 7.25 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Investors of record on Friday, September 28th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $1.88 dividend on an annualized basis and a yield of 1.10%. Stryker’s payout ratio is 28.97%.
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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