LS Investment Advisors LLC lessened its stake in Stryker Corporation (NYSE:SYK) by 40.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,895 shares of the medical technology company’s stock after selling 6,721 shares during the quarter. LS Investment Advisors LLC’s holdings in Stryker Corporation were worth $1,405,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in Stryker Corporation by 2,526.4% in the first quarter. BlackRock Inc. now owns 21,976,771 shares of the medical technology company’s stock valued at $2,893,242,000 after acquiring an additional 21,140,000 shares during the last quarter. Koch Industries Inc. lifted its stake in Stryker Corporation by 34,120.3% in the second quarter. Koch Industries Inc. now owns 1,260,675 shares of the medical technology company’s stock valued at $1,252,000 after acquiring an additional 1,256,991 shares during the last quarter. Vanguard Group Inc. lifted its stake in Stryker Corporation by 5.2% in the first quarter. Vanguard Group Inc. now owns 23,421,053 shares of the medical technology company’s stock valued at $3,083,382,000 after acquiring an additional 1,161,688 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Stryker Corporation by 2,237.8% in the second quarter. Janus Henderson Group PLC now owns 1,019,254 shares of the medical technology company’s stock valued at $141,452,000 after acquiring an additional 975,656 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Stryker Corporation by 41.9% in the first quarter. PNC Financial Services Group Inc. now owns 1,403,420 shares of the medical technology company’s stock valued at $184,759,000 after acquiring an additional 414,715 shares during the last quarter. Institutional investors own 74.00% of the company’s stock.
Shares of Stryker Corporation (SYK) opened at 159.74 on Monday. Stryker Corporation has a 52-week low of $106.48 and a 52-week high of $160.62. The firm has a market capitalization of $59.75 billion, a P/E ratio of 35.66 and a beta of 0.81. The company’s 50-day moving average is $145.58 and its 200 day moving average is $141.82.
Stryker Corporation (NYSE:SYK) last released its quarterly earnings data on Thursday, October 26th. The medical technology company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.02. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.97 billion. Stryker Corporation had a return on equity of 24.11% and a net margin of 14.67%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.39 earnings per share. Analysts expect that Stryker Corporation will post $6.44 EPS for the current fiscal 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 paid a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Thursday, September 28th. Stryker Corporation’s dividend payout ratio (DPR) is presently 36.32%.
In other news, insider Lonny J. Carpenter sold 5,000 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $146.36, for a total transaction of $731,800.00. Following the completion of the sale, the insider now owns 88,207 shares of the company’s stock, valued at $12,909,976.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Graham A. Mclean sold 1,124 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $146.26, for a total value of $164,396.24. Following the sale, the insider now directly owns 8,983 shares of the company’s stock, valued at approximately $1,313,853.58. The disclosure for this sale can be found here. Corporate insiders own 7.40% of the company’s stock.
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A number of analysts have commented on the stock. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $161.00 price target on shares of Stryker Corporation in a research note on Monday, October 2nd. Stifel Nicolaus increased their price target on shares of Stryker Corporation from $151.00 to $158.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Canaccord Genuity increased their price target on shares of Stryker Corporation from $155.00 to $162.00 and gave the company a “buy” rating in a research note on Friday. BidaskClub lowered shares of Stryker Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Zacks Investment Research lowered shares of Stryker Corporation from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $151.14.
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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