Baltimore Washington Financial Advisors Inc. raised its stake in Stryker Corporation (NYSE:SYK) by 1.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 65,576 shares of the medical technology company’s stock after acquiring an additional 889 shares during the quarter. Stryker Corporation comprises 2.1% of Baltimore Washington Financial Advisors Inc.’s holdings, making the stock its 12th largest position. Baltimore Washington Financial Advisors Inc.’s holdings in Stryker Corporation were worth $9,313,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in SYK. Acrospire Investment Management LLC bought a new position in shares of Stryker Corporation during the second quarter worth approximately $111,000. Motco increased its holdings in shares of Stryker Corporation by 50.7% during the second quarter. Motco now owns 826 shares of the medical technology company’s stock worth $115,000 after purchasing an additional 278 shares during the period. Bollard Group LLC increased its holdings in shares of Stryker Corporation by 0.4% during the second quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock worth $115,000 after purchasing an additional 3 shares during the period. Bruderman Asset Management LLC bought a new position in shares of Stryker Corporation during the second quarter worth approximately $150,000. Finally, James Investment Research Inc. bought a new position in shares of Stryker Corporation during the second quarter worth approximately $155,000. 74.09% of the stock is currently owned by hedge funds and other institutional investors.
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In other Stryker Corporation news, insider Graham A. Mclean sold 1,124 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $146.26, for a total transaction of $164,396.24. Following the completion of the sale, the insider now directly owns 8,983 shares in the company, valued at approximately $1,313,853.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Lonny J. Carpenter sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $146.36, for a total transaction of $731,800.00. Following the sale, the insider now owns 88,207 shares of the company’s stock, valued at $12,909,976.52. The disclosure for this sale can be found here. 7.40% of the stock is owned by company insiders.
Several research analysts have recently commented on SYK shares. BMO Capital Markets reaffirmed a “hold” rating and set a $140.00 target price on shares of Stryker Corporation in a report on Tuesday, July 11th. Wells Fargo & Company increased their price target on shares of Stryker Corporation from $160.00 to $166.00 in a research report on Friday. Barclays PLC increased their price target on shares of Stryker Corporation from $137.00 to $148.00 and gave the stock an “underweight” rating in a research report on Friday. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Stryker Corporation in a research report on Wednesday, August 23rd. Finally, Morgan Stanley reiterated an “overweight” rating and set a $160.00 price target (up previously from $155.00) on shares of Stryker Corporation in a research report on Monday, July 10th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $150.86.
Shares of Stryker Corporation (NYSE:SYK) opened at 159.74 on Friday. Stryker Corporation has a 1-year low of $106.48 and a 1-year high of $160.62. The firm has a 50-day moving average of $145.58 and a 200 day moving average of $141.82. The company has a market capitalization of $59.75 billion, a P/E ratio of 35.66 and a beta of 0.80.
Stryker Corporation (NYSE:SYK) last issued its quarterly earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.02. The company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.97 billion. Stryker Corporation had a net margin of 14.67% and a return on equity of 24.52%. Stryker Corporation’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business earned $1.39 EPS. On average, equities research analysts expect that Stryker Corporation will post $6.44 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be paid a $0.425 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.70 annualized dividend and a dividend yield of 1.06%. Stryker Corporation’s payout ratio is 36.32%.
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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