DAVENPORT & Co LLC raised its holdings in Stryker Co. (NYSE:SYK) by 73.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,574 shares of the medical technology company’s stock after acquiring an additional 3,197 shares during the quarter. DAVENPORT & Co LLC’s holdings in Stryker were worth $1,365,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Sofos Investments Inc. raised its position in shares of Stryker by 160.0% in the first quarter. Sofos Investments Inc. now owns 728 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 448 shares during the period. Evolution Wealth Advisors LLC raised its position in shares of Stryker by 64.4% in the second quarter. Evolution Wealth Advisors LLC now owns 143 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 56 shares during the period. WASHINGTON TRUST Co bought a new position in shares of Stryker in the first quarter valued at approximately $28,000. Filbrandt Wealth Management LLC bought a new position in shares of Stryker in the first quarter valued at approximately $30,000. Finally, Ballast Advisors LLC bought a new position in shares of Stryker in the first quarter valued at approximately $31,000. Hedge funds and other institutional investors own 71.24% of the company’s stock.
SYK has been the topic of a number of recent analyst reports. Raymond James dropped their price target on shares of Stryker from $240.00 to $205.00 and set an “outperform” rating on the stock in a research report on Monday, April 13th. Credit Suisse Group boosted their target price on shares of Stryker from $237.00 to $243.00 and gave the stock an “outperform” rating in a research report on Friday. Barclays lowered shares of Stryker from an “equal weight” rating to an “underweight” rating and set a $155.00 target price on the stock. in a research report on Monday, April 13th. JPMorgan Chase & Co. dropped their target price on shares of Stryker from $240.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 15th. Finally, Oppenheimer reaffirmed a “hold” rating and set a $215.00 target price on shares of Stryker in a research report on Friday. Three analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $216.25.
In other Stryker news, CFO Glenn S. Boehnlein sold 10,351 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $185.24, for a total transaction of $1,917,419.24. Following the completion of the sale, the chief financial officer now directly owns 16,321 shares of the company’s stock, valued at approximately $3,023,302.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Srikant M. Datar sold 200 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $186.01, for a total value of $37,202.00. Following the sale, the director now directly owns 17,686 shares of the company’s stock, valued at $3,289,772.86. The disclosure for this sale can be found here. Insiders have sold a total of 30,670 shares of company stock valued at $5,775,251 over the last three months. Company insiders own 6.80% of the company’s stock.
Shares of NYSE SYK opened at $193.30 on Friday. The firm’s 50-day simple moving average is $186.61 and its 200 day simple moving average is $189.31. The company has a market cap of $72.45 billion, a price-to-earnings ratio of 33.97, a price-to-earnings-growth ratio of 3.50 and a beta of 0.84. The company has a quick ratio of 1.77, a current ratio of 2.58 and a debt-to-equity ratio of 0.72. Stryker Co. has a 12-month low of $124.54 and a 12-month high of $226.30.
Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, July 30th. The medical technology company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.01. The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.63 billion. Stryker had a net margin of 14.47% and a return on equity of 24.90%. On average, equities analysts expect that Stryker Co. will post 6.25 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.575 per share. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $2.30 annualized dividend and a yield of 1.19%. Stryker’s dividend payout ratio is currently 27.85%.
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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