Valeo Financial Advisors LLC boosted its stake in Stryker Co. (NYSE:SYK) by 10.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,590 shares of the medical technology company’s stock after acquiring an additional 506 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Stryker were worth $1,174,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Coldstream Capital Management Inc. raised its stake in Stryker by 3.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,706 shares of the medical technology company’s stock valued at $369,000 after acquiring an additional 54 shares in the last quarter. Quadrant Capital Group LLC raised its position in Stryker by 11.6% in the third quarter. Quadrant Capital Group LLC now owns 530 shares of the medical technology company’s stock worth $104,000 after acquiring an additional 55 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in Stryker by 10.4% in the 3rd quarter. Benjamin Edwards Inc. now owns 617 shares of the medical technology company’s stock valued at $133,000 after acquiring an additional 58 shares during the last quarter. Everett Harris & Co. CA lifted its holdings in Stryker by 1.0% in the 3rd quarter. Everett Harris & Co. CA now owns 5,759 shares of the medical technology company’s stock valued at $1,246,000 after acquiring an additional 58 shares during the last quarter. Finally, Bristlecone Advisors LLC boosted its position in shares of Stryker by 1.6% during the 4th quarter. Bristlecone Advisors LLC now owns 4,063 shares of the medical technology company’s stock valued at $853,000 after purchasing an additional 63 shares in the last quarter. 73.24% of the stock is owned by institutional investors.
In related news, CEO Kevin Lobo sold 19,286 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $215.71, for a total value of $4,160,183.06. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Timothy J. Scannell sold 4,666 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $206.28, for a total transaction of $962,502.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,652 shares of company stock worth $5,705,481. 7.20% of the stock is currently owned by company insiders.
Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $1.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.01. The company had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.58 billion. Stryker had a return on equity of 25.33% and a net margin of 23.55%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the business posted $1.69 earnings per share. On average, equities research analysts expect that Stryker Co. will post 8.23 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.575 per share. The ex-dividend date is Monday, December 30th. This is a boost from Stryker’s previous quarterly dividend of $0.52. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.07%. Stryker’s payout ratio is currently 31.46%.
A number of analysts recently commented on the stock. Barclays downgraded shares of Stryker from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $226.00 to $207.00 in a report on Tuesday, November 5th. ValuEngine cut shares of Stryker from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Deutsche Bank assumed coverage on shares of Stryker in a research report on Friday, January 3rd. They issued a “buy” rating and a $179.00 price target on the stock. Canaccord Genuity upped their price target on Stryker from $233.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, SunTrust Banks assumed coverage on Stryker in a research report on Tuesday, January 7th. They set a “hold” rating and a $217.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $222.16.
Stryker Company Profile
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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