State Board of Administration of Florida Retirement System raised its stake in shares of Stryker Corporation (NYSE:SYK) by 0.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 490,966 shares of the medical technology company’s stock after buying an additional 3,180 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.13% of Stryker Corporation worth $69,727,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Acrospire Investment Management LLC bought a new stake in Stryker Corporation in the 2nd quarter worth approximately $111,000. Bollard Group LLC lifted its position in 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 purchasing an additional 3 shares during the last quarter. Motco lifted its position in 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 purchasing an additional 278 shares during the last quarter. Bruderman Asset Management LLC bought a new stake in Stryker Corporation in the second quarter valued at approximately $150,000. Finally, James Investment Research Inc. bought a new stake in Stryker Corporation in the second quarter valued at approximately $155,000. 74.13% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on the company. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $148.00 price target on shares of Stryker Corporation in a research note on Thursday, August 24th. Needham & Company LLC raised Stryker Corporation from an “underperform” rating to a “hold” rating in a research note on Friday, August 25th. Morgan Stanley reaffirmed an “overweight” rating and issued a $160.00 price target (up from $155.00) on shares of Stryker Corporation in a research note on Monday, July 10th. Zacks Investment Research raised Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 target price on the stock in a research note on Monday, July 17th. Finally, BidaskClub downgraded Stryker Corporation from a “buy” rating to a “hold” rating in a report on Saturday, August 26th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $151.52.
In other news, insider Graham A. Mclean sold 1,124 shares of the company’s stock in a transaction that occurred on 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 directly owns 8,983 shares in the company, valued at $1,313,853.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.40% of the stock is owned by corporate insiders.
Shares of Stryker Corporation (SYK) opened at $156.18 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.61 and a current ratio of 2.37. The firm has a market capitalization of $58,448.43, a PE ratio of 24.75, a price-to-earnings-growth ratio of 2.46 and a beta of 0.79. Stryker Corporation has a one year low of $106.48 and a one year high of $160.62.
Stryker Corporation (NYSE:SYK) last issued its quarterly earnings data on Thursday, October 26th. The medical technology company reported $1.52 earnings per share (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 analysts’ expectations of $2.97 billion. Stryker Corporation had a return on equity of 24.11% and a net margin of 14.67%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.39 EPS. equities research analysts forecast that Stryker Corporation will post 6.47 earnings per share for the current year.
Stryker Corporation 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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