People s United Financial Inc. lowered its stake in shares of Stryker Co. (NYSE:SYK) by 2.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 15,787 shares of the medical technology company’s stock after selling 349 shares during the period. People s United Financial Inc.’s holdings in Stryker were worth $2,805,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. MayTech Global Investments LLC boosted its position in shares of Stryker by 9.5% during the 2nd quarter. MayTech Global Investments LLC now owns 18,487 shares of the medical technology company’s stock worth $3,122,000 after purchasing an additional 1,604 shares during the period. First Citizens Bank & Trust Co. boosted its position in shares of Stryker by 318.9% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 6,840 shares of the medical technology company’s stock worth $1,216,000 after purchasing an additional 5,207 shares during the period. Moody Lynn & Lieberson LLC boosted its position in shares of Stryker by 50.8% during the 3rd quarter. Moody Lynn & Lieberson LLC now owns 75,135 shares of the medical technology company’s stock worth $13,350,000 after purchasing an additional 25,316 shares during the period. Chartwell Investment Partners LLC purchased a new position in shares of Stryker during the 2nd quarter worth approximately $1,409,000. Finally, Marshall & Sullivan Inc. WA boosted its position in shares of Stryker by 1.6% during the 3rd quarter. Marshall & Sullivan Inc. WA now owns 28,389 shares of the medical technology company’s stock worth $5,044,000 after purchasing an additional 449 shares during the period. 74.72% of the stock is owned by hedge funds and other institutional investors.
In related news, VP M Kathryn Fink sold 415 shares of Stryker stock in a transaction on Monday, November 5th. The shares were sold at an average price of $166.56, for a total transaction of $69,122.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Glenn S. Boehnlein sold 750 shares of Stryker 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 sale, the chief financial officer now owns 2,785 shares in the company, valued at $496,203.45. The disclosure for this sale can be found here. 7.40% of the stock is currently owned by company insiders.
Shares of SYK opened at $171.15 on Thursday. Stryker Co. has a twelve month low of $146.80 and a twelve month high of $179.84. The firm has a market capitalization of $64.45 billion, a PE ratio of 26.37, a PEG ratio of 2.36 and a beta of 0.66. The company has a current ratio of 1.91, a quick ratio of 1.21 and a debt-to-equity ratio of 0.60.
Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, October 25th. The medical technology company reported $1.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.01. Stryker had a net margin of 9.31% and a return on equity of 28.00%. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.26 billion. Equities analysts expect that Stryker Co. will post 7.28 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 31st. Stockholders of record on Monday, December 31st will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.22%. This is a positive change from Stryker’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Friday, December 28th. Stryker’s dividend payout ratio (DPR) is presently 28.97%.
A number of research firms have issued reports on SYK. Needham & Company LLC reiterated a “hold” rating on shares of Stryker in a report on Tuesday, September 11th. Oppenheimer set a $170.00 target price on shares of Stryker and gave the stock a “hold” rating in a report on Friday, November 9th. Zacks Investment Research lowered shares of Stryker from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. UBS Group began coverage on shares of Stryker in a report on Tuesday, November 27th. They set a “neutral” rating and a $180.00 target price on the stock. Finally, BTIG Research reiterated a “buy” rating and set a $187.00 target price on shares of Stryker in a report on Wednesday, September 12th. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Stryker presently has a consensus rating of “Buy” and a consensus price target of $182.45.
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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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