Eagle Ridge Investment Management trimmed its holdings in Stryker Co. (NYSE:SYK) by 1.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,776 shares of the medical technology company’s stock after selling 515 shares during the quarter. Stryker comprises approximately 1.4% of Eagle Ridge Investment Management’s portfolio, making the stock its 25th biggest position. Eagle Ridge Investment Management’s holdings in Stryker were worth $9,616,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in SYK. Farmers National Bank acquired a new stake in shares of Stryker in the first quarter valued at approximately $25,000. Cable Hill Partners LLC acquired a new stake in shares of Stryker in the first quarter valued at approximately $30,000. Horan Capital Advisors LLC. acquired a new stake in shares of Stryker in the first quarter valued at approximately $40,000. Webster Bank N. A. boosted its holdings in shares of Stryker by 300.0% in the second quarter. Webster Bank N. A. now owns 200 shares of the medical technology company’s stock valued at $41,000 after acquiring an additional 150 shares during the period. Finally, Westside Investment Management Inc. acquired a new stake in shares of Stryker in the second quarter valued at approximately $47,000. 73.48% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Timothy J. Scannell sold 4,666 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $205.88, for a total value of $960,636.08. Following the completion of the transaction, the insider now owns 155,963 shares in the company, valued at $32,109,662.44. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Glenn S. Boehnlein sold 2,700 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $214.16, for a total value of $578,232.00. Following the completion of the transaction, the chief financial officer now owns 20,633 shares of the company’s stock, valued at approximately $4,418,763.28. The disclosure for this sale can be found here. Insiders sold 15,431 shares of company stock valued at $3,174,489 in the last quarter. 7.20% of the stock is currently owned by company insiders.
Several equities research analysts recently weighed in on SYK shares. ValuEngine raised Stryker from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Morgan Stanley increased their price target on Stryker from $218.00 to $230.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Credit Suisse Group increased their price target on Stryker from $232.00 to $237.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Robert W. Baird increased their price target on Stryker from $206.00 to $239.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Barclays set a $226.00 price target on Stryker and gave the stock a “buy” rating in a report on Friday, July 26th. Five analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Stryker has an average rating of “Buy” and a consensus price target of $214.89.
NYSE:SYK traded up $2.73 during trading hours on Thursday, hitting $214.79. The company’s stock had a trading volume of 20,921 shares, compared to its average volume of 1,090,678. The company has a 50-day moving average price of $210.23. The firm has a market capitalization of $81.21 billion, a P/E ratio of 29.39, a PEG ratio of 2.64 and a beta of 0.85. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.07 and a quick ratio of 1.26. Stryker Co. has a 52-week low of $144.75 and a 52-week high of $222.59.
Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, July 25th. The medical technology company reported $1.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.93 by $0.05. The firm had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.60 billion. Stryker had a return on equity of 25.98% and a net margin of 24.99%. Stryker’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.76 earnings per share. On average, research analysts anticipate that Stryker Co. will post 8.2 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Friday, September 27th. Stryker’s payout ratio is 28.45%.
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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