Tredje AP fonden lessened its holdings in shares of Stryker Co. (NYSE:SYK) by 6.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,555 shares of the medical technology company’s stock after selling 1,661 shares during the period. Tredje AP fonden’s holdings in Stryker were worth $3,448,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Firestone Capital Management acquired a new position in Stryker during the fourth quarter worth $42,000. Princeton Global Asset Management LLC acquired a new position in Stryker during the fourth quarter worth $29,000. Procyon Private Wealth Partners LLC acquired a new stake in Stryker in the fourth quarter valued at $31,000. Lloyd Advisory Services LLC. acquired a new stake in Stryker in the fourth quarter valued at $33,000. Finally, Evolution Wealth Advisors LLC acquired a new stake in Stryker in the fourth quarter valued at $33,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have weighed in on SYK shares. Deutsche Bank lowered their target price on Stryker from $243.00 to $228.00 and set a “buy” rating on the stock in a report on Friday, May 1st. JPMorgan Chase & Co. lowered their target price on Stryker from $240.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, April 15th. Credit Suisse Group upped their target price on Stryker from $229.00 to $237.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Cowen lowered their target price on Stryker from $240.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, April 22nd. Finally, BTIG Research restated a “buy” rating on shares of Stryker in a research report on Thursday, January 30th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Stryker presently has an average rating of “Buy” and a consensus price target of $214.23.
NYSE SYK traded down $0.95 during trading hours on Friday, hitting $184.14. 1,659,719 shares of the company’s stock were exchanged, compared to its average volume of 1,767,916. The business’s 50 day moving average is $180.04 and its 200-day moving average is $195.08. Stryker Co. has a 12-month low of $124.54 and a 12-month high of $226.30. The firm has a market capitalization of $69.38 billion, a P/E ratio of 32.36, a price-to-earnings-growth ratio of 3.24 and a beta of 0.85. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.77 and a current ratio of 2.58.
Stryker (NYSE:SYK) last released its earnings results on Thursday, April 30th. The medical technology company reported $1.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.69 by $0.15. Stryker had a return on equity of 24.90% and a net margin of 14.47%. The firm had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same period in the prior year, the business posted $1.88 earnings per share. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Stryker Co. will post 6.2 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.575 per share. The ex-dividend date is Monday, June 29th. This represents a $2.30 annualized dividend and a yield of 1.25%. Stryker’s dividend payout ratio is presently 27.85%.
In other Stryker news, VP Katherine Ann Owen sold 9,149 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $186.79, for a total transaction of $1,708,941.71. Following the completion of the sale, the vice president now directly owns 1,085 shares in the company, valued at $202,667.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Srikant M. Datar sold 200 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $186.01, for a total value of $37,202.00. Following the sale, the director now owns 17,686 shares of the company’s stock, valued at $3,289,772.86. The disclosure for this sale can be found here. Insiders have sold 12,670 shares of company stock valued at $2,380,526 over the last 90 days. 6.80% of the stock is currently owned by insiders.
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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