ERn Financial LLC bought a new position in shares of Stryker Co. (NYSE:SYK) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,236 shares of the medical technology company’s stock, valued at approximately $223,000.
Several other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its stake in Stryker by 4.1% in the 4th quarter. BlackRock Inc. now owns 24,882,912 shares of the medical technology company’s stock valued at $3,900,399,000 after purchasing an additional 975,678 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in Stryker by 8,029.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,075,473 shares of the medical technology company’s stock valued at $39,000 after purchasing an additional 6,000,739 shares during the period. FMR LLC boosted its stake in Stryker by 6.3% in the 4th quarter. FMR LLC now owns 5,934,622 shares of the medical technology company’s stock valued at $930,251,000 after purchasing an additional 353,028 shares during the period. Northern Trust Corp boosted its stake in Stryker by 3.6% in the 4th quarter. Northern Trust Corp now owns 3,857,399 shares of the medical technology company’s stock valued at $604,647,000 after purchasing an additional 132,857 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Stryker by 6.5% in the 4th quarter. Geode Capital Management LLC now owns 3,665,205 shares of the medical technology company’s stock valued at $573,387,000 after purchasing an additional 224,785 shares during the period. Institutional investors own 74.61% of the company’s stock.
NYSE:SYK opened at $180.26 on Friday. The firm has a market cap of $67.26 billion, a PE ratio of 24.66, a P/E/G ratio of 2.19 and a beta of 0.88. The company has a quick ratio of 1.41, a current ratio of 2.02 and a debt-to-equity ratio of 0.72. Stryker Co. has a fifty-two week low of $144.75 and a fifty-two week high of $199.85.
Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 29th. The medical technology company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. The firm had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.73 billion. Stryker had a return on equity of 27.60% and a net margin of 26.12%. On average, research analysts expect that Stryker Co. will post 8.13 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, March 28th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.15%. Stryker’s payout ratio is 28.45%.
In other news, insider Timothy J. Scannell sold 4,666 shares of the business’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $192.40, for a total transaction of $897,738.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Kevin Lobo sold 41,750 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $194.11, for a total value of $8,104,092.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 130,455 shares of company stock valued at $24,723,292. Corporate insiders own 7.20% of the company’s stock.
Several analysts recently issued reports on the company. Canaccord Genuity boosted their price target on Stryker from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, January 30th. Zacks Investment Research upgraded Stryker from a “hold” rating to a “buy” rating and set a $199.00 price target for the company in a research note on Monday, February 4th. Morgan Stanley reduced their price target on Stryker from $212.00 to $197.00 and set an “overweight” rating for the company in a research note on Wednesday, January 2nd. Royal Bank of Canada boosted their price target on Stryker from $184.00 to $204.00 and gave the company an “outperform” rating in a research note on Monday, March 11th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Stryker in a research note on Friday, January 18th. Nine investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $192.13.
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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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