Metropolitan Life Insurance Co NY lessened its holdings in shares of Stryker Co. (NYSE:SYK) by 3.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,139 shares of the medical technology company’s stock after selling 2,163 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in Stryker were worth $12,076,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of SYK. BlackRock Inc. lifted its position in Stryker by 0.6% in the 1st quarter. BlackRock Inc. now owns 25,036,303 shares of the medical technology company’s stock worth $4,945,168,000 after buying an additional 153,391 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position 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 worth $39,000 after buying an additional 6,000,739 shares during the last quarter. FMR LLC lifted its position in Stryker by 6.3% in the 4th quarter. FMR LLC now owns 5,934,622 shares of the medical technology company’s stock worth $930,251,000 after buying an additional 353,028 shares during the last quarter. Fundsmith LLP lifted its position in Stryker by 1.0% in the 1st quarter. Fundsmith LLP now owns 5,581,841 shares of the medical technology company’s stock worth $1,102,525,000 after buying an additional 52,688 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Stryker by 1.2% in the 1st quarter. Northern Trust Corp now owns 3,903,582 shares of the medical technology company’s stock worth $771,036,000 after buying an additional 46,183 shares during the last quarter. Hedge funds and other institutional investors own 73.58% of the company’s stock.
Several analysts have weighed in on the company. Wells Fargo & Co boosted their price objective 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 report on Friday, April 12th. BTIG Research boosted their price objective on Stryker to $211.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Barclays boosted their price objective on Stryker from $203.00 to $211.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, JPMorgan Chase & Co. boosted their price objective on Stryker from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $196.75.
In related news, VP Bijoy Sagar sold 2,000 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $190.43, for a total value of $380,860.00. Following the sale, the vice president now directly owns 3,350 shares of the company’s stock, valued at $637,940.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Glenn S. Boehnlein sold 2,700 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $188.21, for a total value of $508,167.00. Following the completion of the sale, the chief financial officer now directly owns 23,333 shares in the company, valued at $4,391,503.93. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,637 shares of company stock worth $15,045,644. 7.20% of the stock is owned by insiders.
SYK opened at $195.78 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.30 and a current ratio of 2.12. Stryker Co. has a 52-week low of $144.75 and a 52-week high of $199.85. The company has a market cap of $72.93 billion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 2.38 and a beta of 0.81.
Stryker (NYSE:SYK) last posted its earnings results on Tuesday, April 23rd. The medical technology company reported $1.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.51 billion. During the same period in the previous year, the firm earned $1.68 earnings per share. The business’s revenue was up 8.5% compared to the same quarter last year. As a group, equities analysts anticipate that Stryker Co. will post 8.15 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a $0.52 dividend. The ex-dividend date is Thursday, June 27th. This represents a $2.08 annualized dividend and a yield of 1.06%. Stryker’s payout ratio is 28.45%.
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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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