World Asset Management Inc raised its position in Stryker Co. (NYSE:SYK) by 3.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,106 shares of the medical technology company’s stock after buying an additional 760 shares during the period. World Asset Management Inc’s holdings in Stryker were worth $4,998,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Moors & Cabot Inc. increased its stake in shares of Stryker by 65.2% during the third quarter. Moors & Cabot Inc. now owns 14,094 shares of the medical technology company’s stock worth $3,047,000 after purchasing an additional 5,560 shares in the last quarter. Cibc Bank USA increased its stake in shares of Stryker by 3.3% during the third quarter. Cibc Bank USA now owns 3,079 shares of the medical technology company’s stock worth $666,000 after purchasing an additional 97 shares in the last quarter. First National Bank of Hutchinson purchased a new stake in shares of Stryker during the third quarter worth about $297,000. Sequoia Financial Advisors LLC increased its stake in shares of Stryker by 15.6% during the third quarter. Sequoia Financial Advisors LLC now owns 1,411 shares of the medical technology company’s stock worth $305,000 after purchasing an additional 190 shares in the last quarter. Finally, Calamos Advisors LLC increased its stake in shares of Stryker by 4.9% during the third quarter. Calamos Advisors LLC now owns 85,863 shares of the medical technology company’s stock worth $18,572,000 after purchasing an additional 4,045 shares in the last quarter. 73.03% of the stock is owned by institutional investors.
A number of analysts have recently commented on SYK shares. Raymond James set a $240.00 target price on shares of Stryker and gave the stock a “buy” rating in a research note on Friday, July 26th. ValuEngine cut shares of Stryker from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Stryker in a research note on Wednesday, September 4th. Wells Fargo & Co boosted their target price on shares of Stryker from $219.00 to $228.00 and gave the company an “outperform” rating in a report on Tuesday, July 2nd. Finally, Barclays set a $226.00 target price on shares of Stryker and gave the company a “buy” rating in a report on Friday, July 26th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $214.89.
In other news, CFO Glenn S. Boehnlein sold 2,700 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 20,633 shares in the company, valued at approximately $4,418,763.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Allan C. Golston sold 3,399 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $209.84, for a total transaction of $713,246.16. Following the completion of the transaction, the director now owns 13,762 shares in the company, valued at $2,887,818.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,637 shares of company stock worth $11,280,427. Company insiders own 7.20% of the company’s stock.
Shares of SYK stock traded down $4.43 during trading hours on Tuesday, hitting $210.64. The company had a trading volume of 38,328 shares, compared to its average volume of 983,278. The company’s fifty day moving average is $216.36 and its 200 day moving average is $203.93. 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 fifty-two week low of $144.75 and a fifty-two week high of $223.45. The stock has a market capitalization of $80.46 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 2.61 and a beta of 0.81.
Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, July 25th. The medical technology company reported $1.98 EPS for the quarter, topping the consensus estimate of $1.93 by $0.05. Stryker had a net margin of 24.99% and a return on equity of 25.98%. The firm had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same period in the prior year, the business posted $1.76 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities analysts forecast that Stryker Co. will post 8.21 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.08 annualized dividend and a dividend yield of 0.99%. Stryker’s dividend payout ratio is currently 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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