Harrington Investments INC bought a new stake in Stryker Corporation (NYSE:SYK) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 8,194 shares of the medical technology company’s stock, valued at approximately $1,164,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SYK. Acrospire Investment Management LLC bought a new stake in shares of Stryker Corporation in the second quarter valued at about $111,000. Bollard Group LLC lifted its stake in shares of Stryker Corporation by 0.4% in the second quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock valued at $115,000 after buying an additional 3 shares during the period. Motco lifted its stake in shares of Stryker Corporation by 50.7% in the second quarter. Motco now owns 826 shares of the medical technology company’s stock valued at $115,000 after buying an additional 278 shares during the period. Bruderman Asset Management LLC bought a new stake in shares of Stryker Corporation in the second quarter valued at about $150,000. Finally, James Investment Research Inc. bought a new stake in shares of Stryker Corporation in the second quarter valued at about $155,000. Institutional investors and hedge funds own 74.00% of the company’s stock.
In related news, 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 completion of the transaction, the insider now owns 8,983 shares of the company’s stock, valued at approximately $1,313,853.58. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Lonny J. Carpenter sold 5,000 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $146.36, for a total transaction of $731,800.00. Following the completion of the transaction, the insider now directly 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. 7.40% of the stock is owned by corporate insiders.
Several equities research analysts recently weighed in on SYK shares. Royal Bank Of Canada reiterated a “buy” rating and issued a $155.00 target price on shares of Stryker Corporation in a research note on Friday, September 1st. Argus reiterated a “buy” rating and issued a $160.00 target price on shares of Stryker Corporation in a research note on Tuesday, August 29th. Zacks Investment Research cut shares of Stryker Corporation from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. BMO Capital Markets restated a “hold” rating and set a $140.00 price target on shares of Stryker Corporation in a research note on Tuesday, July 11th. Finally, Needham & Company LLC upgraded shares of Stryker Corporation from an “underperform” rating to a “hold” rating in a research note on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $151.52.
Shares of Stryker Corporation (NYSE SYK) opened at 155.37 on Tuesday. The firm has a market cap of $58.12 billion, a price-to-earnings ratio of 34.68 and a beta of 0.81. Stryker Corporation has a 12-month low of $106.48 and a 12-month high of $160.62. The stock’s 50 day moving average is $145.94 and its 200 day moving average is $142.17.
Stryker Corporation (NYSE:SYK) last issued its quarterly earnings data on Thursday, October 26th. The medical technology company reported $1.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.02. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.97 billion. Stryker Corporation had a net margin of 14.67% and a return on equity of 24.11%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.39 EPS. Equities analysts expect that Stryker Corporation will post $6.44 earnings per share for the current year.
The business also recently disclosed 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. This represents a $1.70 annualized dividend and a yield of 1.09%. The ex-dividend date is Thursday, September 28th. Stryker Corporation’s payout ratio is 36.32%.
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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