Pathstone Family Office LLC cut its holdings in shares of Stryker Corporation (NYSE:SYK) by 12.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 324 shares of the medical technology company’s stock after selling 47 shares during the quarter. Pathstone Family Office LLC’s holdings in Stryker Corporation were worth $2,125,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Acrospire Investment Management LLC purchased a new stake in shares of Stryker Corporation during the 2nd quarter valued at $111,000. Motco increased its position in shares of Stryker Corporation by 50.7% during the 2nd quarter. Motco now owns 826 shares of the medical technology company’s stock valued at $115,000 after purchasing an additional 278 shares during the last quarter. Bollard Group LLC increased its position in shares of Stryker Corporation by 0.4% during the 2nd quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock valued at $115,000 after purchasing an additional 3 shares during the last quarter. Bruderman Asset Management LLC purchased a new stake in shares of Stryker Corporation during the 2nd quarter valued at $150,000. Finally, James Investment Research Inc. purchased a new stake in shares of Stryker Corporation during the 2nd quarter valued at $155,000. 74.13% of the stock is owned by hedge funds and other institutional investors.
In other Stryker Corporation news, insider Graham A. Mclean sold 1,124 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 8,983 shares in the company, valued at $1,313,853.58. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Lonny J. Carpenter sold 5,000 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $146.36, for a total value of $731,800.00. Following the completion of the sale, the insider now owns 88,207 shares of the company’s stock, valued at approximately $12,909,976.52. The disclosure for this sale can be found here. Corporate insiders own 7.40% of the company’s stock.
SYK has been the subject of several research analyst reports. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $148.00 target price on shares of Stryker Corporation in a research report on Thursday, August 24th. Needham & Company LLC raised Stryker Corporation from an “underperform” rating to a “hold” rating in a report on Friday, August 25th. Cantor Fitzgerald initiated coverage on Stryker Corporation in a report on Thursday, June 29th. They issued a “neutral” rating and a $153.00 price objective for the company. Morgan Stanley reissued an “overweight” rating and issued a $160.00 price objective (up previously from $155.00) on shares of Stryker Corporation in a report on Monday, July 10th. Finally, Zacks Investment Research raised Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 price objective for the company in a report on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $146.78.
Stryker Corporation (NYSE SYK) opened at 144.69 on Wednesday. The stock has a market cap of $54.12 billion, a price-to-earnings ratio of 32.30 and a beta of 0.80. Stryker Corporation has a 12-month low of $106.48 and a 12-month high of $149.23. The firm’s 50-day moving average price is $142.48 and its 200-day moving average price is $140.29.
Stryker Corporation (NYSE:SYK) last issued its quarterly earnings results on Thursday, July 27th. The medical technology company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.39 earnings per share. On average, equities analysts predict that Stryker Corporation will post $6.45 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Thursday, September 28th. Stryker Corporation’s payout ratio is 37.95%.
About Stryker Corporation
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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