Putnam FL Investment Management Co. boosted its position in Stryker Corporation (NYSE:SYK) by 0.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 44,867 shares of the medical technology company’s stock after acquiring an additional 332 shares during the period. Putnam FL Investment Management Co.’s holdings in Stryker were worth $6,947,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. ING Groep NV raised its stake in Stryker by 31.3% in the 4th quarter. ING Groep NV now owns 6,503 shares of the medical technology company’s stock valued at $1,007,000 after acquiring an additional 1,550 shares during the period. Reynders McVeigh Capital Management LLC raised its stake in Stryker by 26.0% in the 4th quarter. Reynders McVeigh Capital Management LLC now owns 103,610 shares of the medical technology company’s stock valued at $16,043,000 after acquiring an additional 21,374 shares during the period. Benedict Financial Advisors Inc. raised its stake in Stryker by 33.7% in the 4th quarter. Benedict Financial Advisors Inc. now owns 3,071 shares of the medical technology company’s stock valued at $476,000 after acquiring an additional 774 shares during the period. Loeb Partners Corp bought a new stake in Stryker in the 4th quarter valued at about $496,000. Finally, Fishman Jay A Ltd. MI raised its stake in Stryker by 19.1% in the 4th quarter. Fishman Jay A Ltd. MI now owns 58,460 shares of the medical technology company’s stock valued at $9,052,000 after acquiring an additional 9,385 shares during the period. Institutional investors and hedge funds own 74.85% of the company’s stock.
Several equities research analysts have recently weighed in on SYK shares. Needham & Company LLC reiterated a “hold” rating on shares of Stryker in a research report on Wednesday, January 31st. Leerink Swann upped their price target on Stryker from $177.00 to $184.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Piper Jaffray Companies reiterated a “buy” rating and set a $170.00 price target on shares of Stryker in a research report on Wednesday, January 31st. Citigroup reiterated a “market perform” rating and set a $165.00 price target (up from $156.00) on shares of Stryker in a research report on Thursday, February 1st. They noted that the move was a valuation call. Finally, Robert W. Baird upgraded Stryker from a “neutral” rating to an “outperform” rating in a research report on Friday, November 24th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $162.50.
Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $1.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.95 by $0.01. The company had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.42 billion. Stryker had a net margin of 8.20% and a return on equity of 24.55%. Stryker’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.78 earnings per share. analysts anticipate that Stryker Corporation will post 7.12 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Friday, December 29th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 1.22%. This is a boost from Stryker’s previous quarterly dividend of $0.43. The ex-dividend date was Thursday, December 28th. Stryker’s dividend payout ratio is 70.15%.
In related news, VP William E. Berry, Jr. sold 1,306 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $164.42, for a total value of $214,732.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Graham A. Mclean sold 2,984 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $160.53, for a total transaction of $479,021.52. Following the completion of the transaction, the insider now owns 9,100 shares in the company, valued at $1,460,823. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,840 shares of company stock worth $2,749,989. 7.40% of the stock is owned by company insiders.
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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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