Baltimore Washington Financial Advisors Inc. increased its stake in shares of Stryker Co. (NYSE:SYK) by 4.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,963 shares of the medical technology company’s stock after buying an additional 2,538 shares during the quarter. Stryker comprises approximately 2.1% of Baltimore Washington Financial Advisors Inc.’s holdings, making the stock its 10th largest position. Baltimore Washington Financial Advisors Inc.’s holdings in Stryker were worth $11,365,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of SYK. Dynamic Technology Lab Private Ltd acquired a new position in Stryker during the 1st quarter worth $309,000. DnB Asset Management AS boosted its position in Stryker by 8.2% during the 2nd quarter. DnB Asset Management AS now owns 42,395 shares of the medical technology company’s stock worth $7,159,000 after acquiring an additional 3,200 shares during the period. IFM Investors Pty Ltd boosted its position in Stryker by 44.8% during the 2nd quarter. IFM Investors Pty Ltd now owns 15,249 shares of the medical technology company’s stock worth $2,575,000 after acquiring an additional 4,720 shares during the period. YHB Investment Advisors Inc. boosted its position in Stryker by 1.3% during the 2nd quarter. YHB Investment Advisors Inc. now owns 47,365 shares of the medical technology company’s stock worth $7,998,000 after acquiring an additional 624 shares during the period. Finally, CENTRAL TRUST Co boosted its position in Stryker by 15.7% during the 2nd quarter. CENTRAL TRUST Co now owns 15,792 shares of the medical technology company’s stock worth $2,666,000 after acquiring an additional 2,140 shares during the period. Hedge funds and other institutional investors own 75.21% of the company’s stock.
In other news, CFO Glenn S. Boehnlein sold 750 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $178.17, for a total transaction of $133,627.50. Following the completion of the sale, the chief financial officer now directly owns 2,785 shares of the company’s stock, valued at $496,203.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Katherine Ann Owen sold 37,866 shares of the company’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $166.84, for a total value of $6,317,563.44. Following the sale, the vice president now directly owns 11,367 shares of the company’s stock, valued at $1,896,470.28. The disclosure for this sale can be found here. Corporate insiders own 7.40% of the company’s stock.
A number of brokerages have issued reports on SYK. Citigroup boosted their price target on Stryker from $171.00 to $173.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 25th. BMO Capital Markets restated a “hold” rating and issued a $174.00 price objective on shares of Stryker in a report on Thursday, July 12th. Robert W. Baird upped their price objective on Stryker from $187.00 to $192.00 and gave the company an “outperform” rating in a report on Wednesday, July 25th. Canaccord Genuity restated a “buy” rating and issued a $185.00 price objective on shares of Stryker in a report on Wednesday, July 25th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $184.00 price objective on shares of Stryker in a report on Wednesday, July 25th. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $181.15.
Shares of NYSE SYK opened at $165.37 on Friday. Stryker Co. has a 12 month low of $146.80 and a 12 month high of $179.84. The firm has a market cap of $61.88 billion, a PE ratio of 23.32, a P/E/G ratio of 2.27 and a beta of 0.64. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.91 and a quick ratio of 1.21.
Stryker (NYSE:SYK) last announced its earnings results on Thursday, October 25th. The medical technology company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.68 by $0.01. Stryker had a return on equity of 28.00% and a net margin of 9.31%. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.26 billion. On average, research analysts anticipate that Stryker Co. will post 7.28 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Thursday, September 27th. Stryker’s dividend payout ratio is 28.97%.
Stryker Company Profile
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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