OLD Mutual Customised Solutions Proprietary Ltd. raised its position in shares of Stryker Corporation (NYSE:SYK) by 37.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,680 shares of the medical technology company’s stock after buying an additional 1,280 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in Stryker Corporation were worth $616,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Macquarie Group Ltd. raised its stake in shares of Stryker Corporation by 13.3% in the fourth quarter. Macquarie Group Ltd. now owns 103,000 shares of the medical technology company’s stock worth $12,341,000 after buying an additional 12,100 shares during the last quarter. Gulf International Bank UK Ltd raised its stake in shares of Stryker Corporation by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 104,546 shares of the medical technology company’s stock worth $13,763,000 after buying an additional 1,300 shares during the last quarter. Lynch & Associates IN raised its stake in shares of Stryker Corporation by 0.3% in the first quarter. Lynch & Associates IN now owns 27,450 shares of the medical technology company’s stock worth $3,614,000 after buying an additional 75 shares during the last quarter. Koshinski Asset Management Inc. raised its stake in shares of Stryker Corporation by 428.5% in the first quarter. Koshinski Asset Management Inc. now owns 15,991 shares of the medical technology company’s stock worth $2,105,000 after buying an additional 12,965 shares during the last quarter. Finally, National Pension Service raised its position in Stryker Corporation by 0.4% in the first quarter. National Pension Service now owns 245,638 shares of the medical technology company’s stock valued at $32,412,000 after buying an additional 884 shares during the last quarter. Institutional investors own 73.79% of the company’s stock.
Shares of Stryker Corporation (NYSE SYK) traded down 0.74% during midday trading on Friday, hitting $144.29. The stock had a trading volume of 1,673,285 shares. Stryker Corporation has a 1-year low of $106.48 and a 1-year high of $148.84. The firm’s 50-day moving average price is $144.61 and its 200-day moving average price is $136.38. The stock has a market cap of $53.97 billion, a price-to-earnings ratio of 32.21 and a beta of 0.80.
Stryker Corporation (NYSE:SYK) last issued its quarterly earnings data on Thursday, July 27th. The medical technology company reported $1.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.02. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.98 billion. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. During the same period last year, the company posted $1.39 earnings per share. Stryker Corporation’s revenue was up 6.1% compared to the same quarter last year. Analysts forecast that Stryker Corporation will post $6.50 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be issued a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Thursday, September 28th. Stryker Corporation’s dividend payout ratio (DPR) is presently 37.95%.
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Several equities analysts have recently weighed in on SYK shares. Morgan Stanley boosted their target price on Stryker Corporation from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, June 21st. Needham & Company LLC reaffirmed a “sell” rating on shares of Stryker Corporation in a research report on Wednesday, April 26th. Cantor Fitzgerald began coverage on Stryker Corporation in a research report on Thursday, June 29th. They set a “neutral” rating and a $153.00 price target on the stock. BidaskClub lowered Stryker Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Finally, Zacks Investment Research raised Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 price target on the stock in a research report on Monday, July 17th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $144.03.
In related news, insider David Floyd sold 19,305 shares of the stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $144.56, for a total value of $2,790,730.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Graham A. Mclean sold 1,124 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $146.26, for a total value of $164,396.24. Following the completion of the transaction, the insider now owns 8,983 shares in the company, valued at approximately $1,313,853.58. The disclosure for this sale can be found here. Insiders have sold 32,810 shares of company stock worth $4,754,958 over the last three months. Corporate insiders own 7.40% of the company’s stock.
Stryker Corporation Company Profile
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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