GQG Partners LLC boosted its position in shares of Stryker Co. (NYSE:SYK) by 24.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 924,369 shares of the medical technology company’s stock after buying an additional 183,802 shares during the quarter. Stryker accounts for approximately 2.3% of GQG Partners LLC’s investment portfolio, making the stock its 19th largest position. GQG Partners LLC’s holdings in Stryker were worth $182,241,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in SYK. Welch Group LLC boosted its position in shares of Stryker by 1.5% in the 1st quarter. Welch Group LLC now owns 3,774 shares of the medical technology company’s stock valued at $745,000 after purchasing an additional 54 shares during the period. Independence Bank of Kentucky boosted its position in shares of Stryker by 4.9% in the 1st quarter. Independence Bank of Kentucky now owns 1,180 shares of the medical technology company’s stock valued at $233,000 after purchasing an additional 55 shares during the period. Benedict Financial Advisors Inc. boosted its position in shares of Stryker by 1.1% in the 1st quarter. Benedict Financial Advisors Inc. now owns 5,235 shares of the medical technology company’s stock valued at $1,034,000 after purchasing an additional 57 shares during the period. Berman Capital Advisors LLC boosted its position in shares of Stryker by 11.1% in the 1st quarter. Berman Capital Advisors LLC now owns 571 shares of the medical technology company’s stock valued at $112,000 after purchasing an additional 57 shares during the period. Finally, 1ST Source Bank boosted its position in shares of Stryker by 3.5% in the 1st quarter. 1ST Source Bank now owns 1,760 shares of the medical technology company’s stock valued at $348,000 after purchasing an additional 60 shares during the period. 73.61% of the stock is owned by institutional investors and hedge funds.
In other news, Chairman Kevin Lobo sold 41,750 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $194.11, for a total transaction of $8,104,092.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Yin C. Becker sold 15,240 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $198.03, for a total value of $3,017,977.20. Following the sale, the vice president now directly owns 16,577 shares of the company’s stock, valued at $3,282,743.31. The disclosure for this sale can be found here. Insiders have sold a total of 82,303 shares of company stock valued at $15,947,489 over the last ninety days. Company insiders own 7.20% of the company’s stock.
Shares of Stryker stock opened at $196.78 on Friday. The stock has a market capitalization of $72.68 billion, a P/E ratio of 26.92, a price-to-earnings-growth ratio of 2.37 and a beta of 0.81. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.12 and a quick ratio of 1.30. Stryker Co. has a 1 year low of $144.75 and a 1 year high of $199.85.
Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, April 23rd. The medical technology company reported $1.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.84 by $0.04. Stryker had a return on equity of 26.72% and a net margin of 25.38%. The company had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same period last year, the business earned $1.68 EPS. The business’s quarterly revenue was up 8.5% on a year-over-year basis. On average, research analysts forecast that Stryker Co. will post 8.15 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, June 27th. Stryker’s dividend payout ratio (DPR) is presently 28.45%.
A number of equities analysts recently weighed in on the company. Wells Fargo & Co increased their price target on Stryker from $214.00 to $219.00 and gave the company an “outperform” rating in a research report on Monday, April 1st. Zacks Investment Research downgraded Stryker from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. BTIG Research increased their price objective on Stryker to $211.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Barclays increased their price objective on Stryker from $203.00 to $211.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, JPMorgan Chase & Co. increased their price objective on Stryker from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $196.75.
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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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