Korea Investment CORP boosted its stake in shares of Stryker Corporation (NYSE:SYK) by 163.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 320,328 shares of the medical technology company’s stock after buying an additional 198,600 shares during the quarter. Korea Investment CORP owned 0.09% of Stryker Corporation worth $45,493,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in SYK. BlackRock Inc. boosted its stake in Stryker Corporation by 2,526.4% during the first quarter. BlackRock Inc. now owns 21,976,771 shares of the medical technology company’s stock worth $2,893,242,000 after buying an additional 21,140,000 shares during the period. Koch Industries Inc. boosted its stake in shares of 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 purchasing an additional 1,256,991 shares during the period. Vanguard Group Inc. boosted its stake in shares of 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 purchasing an additional 1,161,688 shares during the period. Janus Henderson Group PLC boosted its stake in shares of 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 purchasing an additional 975,656 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of 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 purchasing an additional 414,715 shares during the period. 74.00% of the stock is owned by institutional investors.
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In other news, 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 transaction of $164,396.24. Following the completion of the transaction, 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 is accessible through this link. 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 value of $731,800.00. Following the transaction, 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. Corporate insiders own 7.40% of the company’s stock.
Shares of Stryker Corporation (NYSE SYK) opened at 154.87 on Wednesday. The firm’s 50-day moving average is $146.25 and its 200-day moving average is $142.26. The firm has a market cap of $57.93 billion, a PE ratio of 34.57 and a beta of 0.80. Stryker Corporation has a 12-month low of $106.48 and a 12-month high of $160.62.
Stryker Corporation (NYSE:SYK) last released its earnings results 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 company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.97 billion. Stryker Corporation had a return on equity of 24.11% and a net margin of 14.67%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.39 EPS. Equities analysts expect that Stryker Corporation will post $6.47 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th were paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Thursday, September 28th. Stryker Corporation’s dividend payout ratio (DPR) is currently 36.32%.
Several research firms have recently commented on SYK. Oppenheimer Holdings, Inc. set a $156.00 price objective on shares of Stryker Corporation and gave the company a “hold” rating in a research note on Monday. Cowen and Company set a $166.00 price objective on shares of Stryker Corporation and gave the company a “buy” rating in a research note on Sunday. Barclays PLC raised their price objective on shares of Stryker Corporation from $137.00 to $148.00 and gave the company an “underweight” rating in a research note on Friday, October 27th. Canaccord Genuity raised their price objective on shares of Stryker Corporation from $155.00 to $162.00 and gave the company a “buy” rating in a research note on Friday, October 27th. Finally, Stifel Nicolaus raised their price objective on shares of Stryker Corporation from $158.00 to $168.00 and gave the company a “buy” rating in a research note on Friday, October 27th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $151.52.
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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