Swiss National Bank cut its holdings in shares of Stryker Co. (NYSE:SYK) by 2.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,357,371 shares of the medical technology company’s stock after selling 37,700 shares during the period. Swiss National Bank owned about 0.36% of Stryker worth $279,048,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Farmers National Bank acquired a new position in shares of Stryker in the 1st quarter worth approximately $25,000. Cable Hill Partners LLC acquired a new position in shares of Stryker in the 1st quarter worth approximately $30,000. Horan Capital Advisors LLC. acquired a new position in shares of Stryker in the 1st quarter worth approximately $40,000. Webster Bank N. A. lifted its position in shares of Stryker by 300.0% in the 2nd quarter. Webster Bank N. A. now owns 200 shares of the medical technology company’s stock worth $41,000 after purchasing an additional 150 shares during the period. Finally, Westside Investment Management Inc. acquired a new position in shares of Stryker in the 2nd quarter worth approximately $47,000. Institutional investors and hedge funds own 73.48% of the company’s stock.
In other Stryker news, Director Allan C. Golston sold 3,399 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $209.84, for a total transaction of $713,246.16. Following the completion of the sale, the director now owns 13,762 shares in the company, valued at approximately $2,887,818.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Glenn S. Boehnlein sold 2,700 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $214.16, for a total transaction of $578,232.00. Following the sale, the chief financial officer now owns 20,633 shares of the company’s stock, valued at approximately $4,418,763.28. The disclosure for this sale can be found here. Insiders have sold a total of 15,431 shares of company stock valued at $3,174,489 in the last 90 days. 7.20% of the stock is currently owned by company insiders.
SYK stock traded up $1.45 during midday trading on Friday, reaching $216.75. 15,905 shares of the company’s stock traded hands, compared to its average volume of 1,092,561. The company has a market cap of $81.97 billion, a price-to-earnings ratio of 29.65, a P/E/G ratio of 2.66 and a beta of 0.85. The firm’s fifty day moving average price is $210.48 and its 200-day moving average price is $194.87. The company has a quick ratio of 1.26, a current ratio of 2.07 and a debt-to-equity ratio of 0.67. Stryker Co. has a 52 week low of $144.75 and a 52 week high of $222.59.
Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, July 25th. The medical technology company reported $1.98 EPS for the quarter, beating the Zacks’ consensus estimate of $1.93 by $0.05. The business had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.60 billion. Stryker had a net margin of 24.99% and a return on equity of 25.98%. Stryker’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.76 EPS. Analysts forecast that Stryker Co. will post 8.2 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, September 27th. This represents a $2.08 dividend on an annualized basis and a yield of 0.96%. Stryker’s dividend payout ratio (DPR) is presently 28.45%.
A number of research analysts have recently issued reports on the stock. Credit Suisse Group boosted their price target on shares of Stryker from $232.00 to $237.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Svb Leerink restated an “outperform” rating on shares of Stryker in a research report on Wednesday, July 10th. ValuEngine upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Oppenheimer boosted their target price on shares of Stryker from $183.00 to $192.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Finally, Deutsche Bank boosted their target price on shares of Stryker from $181.00 to $208.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $214.89.
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.
Further Reading: Outstanding Shares
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