Johnson Investment Counsel Inc. raised its stake in Stryker Co. (NYSE:SYK) by 1.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 11,799 shares of the medical technology company’s stock after buying an additional 177 shares during the period. Johnson Investment Counsel Inc.’s holdings in Stryker were worth $3,072,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. RE Advisers Corp acquired a new position in Stryker in the second quarter valued at about $34,000. Magellan Asset Management Ltd acquired a new stake in shares of Stryker during the first quarter worth about $35,000. Penserra Capital Management LLC acquired a new stake in shares of Stryker during the second quarter worth about $36,000. Albion Financial Group UT acquired a new stake in shares of Stryker during the second quarter worth about $37,000. Finally, Hanson & Doremus Investment Management raised its position in shares of Stryker by 25.3% during the second quarter. Hanson & Doremus Investment Management now owns 188 shares of the medical technology company’s stock worth $39,000 after purchasing an additional 38 shares during the period. 72.58% of the stock is currently owned by hedge funds and other institutional investors.
SYK has been the topic of a number of research analyst reports. Zacks Investment Research lowered Stryker from a “hold” rating to a “sell” rating and set a $286.00 price target on the stock. in a research report on Tuesday, September 28th. Canaccord Genuity raised their price target on Stryker from $285.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Credit Suisse Group lifted their target price on Stryker from $291.00 to $311.00 and gave the company an “outperform” rating in a research report on Wednesday, July 28th. Citigroup lifted their target price on Stryker from $303.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, July 28th. Finally, Morgan Stanley lifted their target price on Stryker from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, July 28th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $287.13.
Stryker (NYSE:SYK) last issued its earnings results on Monday, July 26th. The medical technology company reported $2.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.12 by $0.13. Stryker had a return on equity of 26.08% and a net margin of 12.82%. The company had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same period in the previous year, the company posted $0.64 EPS. The firm’s revenue for the quarter was up 55.4% compared to the same quarter last year. Analysts predict that Stryker Co. will post 9.35 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 29th. Stockholders of record on Thursday, September 30th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $2.52 annualized dividend and a dividend yield of 0.98%. Stryker’s dividend payout ratio is currently 33.92%.
In related news, VP Robert S. Fletcher sold 1,120 shares of the business’s stock in a transaction on Thursday, August 5th. The stock was sold at an average price of $261.10, for a total value of $292,432.00. Following the completion of the sale, the vice president now directly owns 4,533 shares in the company, valued at approximately $1,183,566.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 150,000 shares of Stryker stock in a transaction on Friday, August 6th. The shares were sold at an average price of $262.26, for a total value of $39,339,000.00. The disclosure for this sale can be found here. Insiders own 6.70% of the company’s stock.
Stryker Company Profile
Stryker Corp. engages in the provision of medical technology products and services. It operates through the following segments: Orthopaedics, MedSurg, and Neurotechnology & Spine. The Orthopaedics segment provides reconstructive and trauma implant systems. The MedSurg segment deals with surgical equipment and navigation systems, endoscopy, patient handling and reprocessed medical devices.
Recommended Story: What sectors are represented in the Hang Seng index?
Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Co. (NYSE:SYK).
Receive News & Ratings for Stryker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stryker and related companies with MarketBeat.com's FREE daily email newsletter.