Comerica Bank lessened its stake in Stryker Co. (NYSE:SYK) by 15.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,679 shares of the medical technology company’s stock after selling 21,713 shares during the period. Comerica Bank’s holdings in Stryker were worth $19,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Atlantic Trust LLC acquired a new stake in shares of Stryker during the second quarter worth about $105,000. Centaurus Financial Inc. acquired a new stake in shares of Stryker during the second quarter worth about $110,000. NuWave Investment Management LLC boosted its stake in shares of Stryker by 3,245.0% during the third quarter. NuWave Investment Management LLC now owns 669 shares of the medical technology company’s stock worth $119,000 after buying an additional 649 shares during the period. Kaizen Advisory LLC boosted its stake in shares of Stryker by 142.6% during the second quarter. Kaizen Advisory LLC now owns 752 shares of the medical technology company’s stock worth $127,000 after buying an additional 442 shares during the period. Finally, CX Institutional acquired a new stake in shares of Stryker during the second quarter worth about $133,000. Institutional investors own 75.21% of the company’s stock.
In other Stryker news, VP Katherine Ann Owen sold 37,866 shares of the stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 11,367 shares of the company’s stock, valued at $1,896,470.28. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Glenn S. Boehnlein sold 750 shares of the stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $178.17, for a total transaction 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 $496,203.45. The disclosure for this sale can be found here. Company insiders own 7.40% of the company’s stock.
Shares of NYSE:SYK opened at $165.37 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.91 and a quick ratio of 1.21. The stock has a market capitalization of $61.88 billion, a P/E ratio of 25.48, a PEG ratio of 2.27 and a beta of 0.64. Stryker Co. has a 52 week low of $146.80 and a 52 week high of $179.84.
Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, October 25th. The medical technology company reported $1.69 EPS for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.01. The firm had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.26 billion. Stryker had a net margin of 9.31% and a return on equity of 28.00%. On average, sell-side 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. Shareholders of record on Friday, September 28th were issued a $0.47 dividend. The ex-dividend date was Thursday, September 27th. This represents a $1.88 dividend on an annualized basis and a yield of 1.14%. Stryker’s dividend payout ratio (DPR) is presently 28.97%.
Several equities research analysts have recently weighed in on SYK shares. Needham & Company LLC reiterated a “hold” rating on shares of Stryker in a research note on Tuesday, September 11th. Canaccord Genuity reiterated a “buy” rating and set a $185.00 target price on shares of Stryker in a research note on Wednesday, July 25th. Royal Bank of Canada reiterated a “buy” rating and set a $184.00 target price on shares of Stryker in a research note on Wednesday, July 25th. Zacks Investment Research downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Finally, BTIG Research restated a “buy” rating and issued a $187.00 price objective on shares of Stryker in a research report on Wednesday, September 12th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $181.15.
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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