Perkins Coie Trust Co raised its position in shares of Stryker Co. (NYSE:SYK) by 1.0% in the third quarter, HoldingsChannel reports. The firm owned 18,064 shares of the medical technology company’s stock after acquiring an additional 178 shares during the period. Stryker comprises about 1.7% of Perkins Coie Trust Co’s investment portfolio, making the stock its 14th largest holding. Perkins Coie Trust Co’s holdings in Stryker were worth $3,907,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Stryker by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 26,735,288 shares of the medical technology company’s stock valued at $5,496,241,000 after acquiring an additional 555,327 shares during the period. FMR LLC grew its stake in Stryker by 13.4% during the 1st quarter. FMR LLC now owns 6,728,182 shares of the medical technology company’s stock worth $1,328,951,000 after buying an additional 793,560 shares during the last quarter. Northern Trust Corp grew its stake in Stryker by 0.5% during the 2nd quarter. Northern Trust Corp now owns 3,922,830 shares of the medical technology company’s stock worth $806,455,000 after buying an additional 19,248 shares during the last quarter. Nuveen Asset Management LLC grew its stake in Stryker by 20,218.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,596,110 shares of the medical technology company’s stock worth $533,708,000 after buying an additional 2,583,333 shares during the last quarter. Finally, Morgan Stanley grew its stake in Stryker by 3.4% during the 2nd quarter. Morgan Stanley now owns 1,826,762 shares of the medical technology company’s stock worth $375,547,000 after buying an additional 59,305 shares during the last quarter. 72.95% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently weighed in on the company. BTIG Research set a $228.00 target price on Stryker and gave the stock a “buy” rating in a research note on Thursday, September 5th. Raymond James set a $240.00 target price on Stryker and gave the stock a “buy” rating in a research note on Friday, July 26th. Morgan Stanley boosted their target price on Stryker from $218.00 to $230.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. BMO Capital Markets set a $216.00 target price on Stryker and gave the stock a “hold” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada set a $220.00 target price on Stryker and gave the stock a “buy” rating in a research note on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $214.89.
Stryker stock traded up $3.56 during trading hours on Friday, hitting $214.85. 337,024 shares of the stock traded hands, compared to its average volume of 1,121,147. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.07 and a quick ratio of 1.26. The firm’s 50 day moving average price is $217.04 and its 200-day moving average price is $202.89. The stock has a market capitalization of $77.77 billion, a price-to-earnings ratio of 29.39, a P/E/G ratio of 2.52 and a beta of 0.81. Stryker Co. has a 1 year low of $144.75 and a 1 year high of $223.45.
Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, July 25th. The medical technology company reported $1.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $0.05. The business had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.60 billion. Stryker had a return on equity of 25.98% and a net margin of 24.99%. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.76 EPS. Research analysts forecast that Stryker Co. will post 8.21 earnings per share for the current fiscal year.
The company 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 of this dividend is Friday, September 27th. This represents a $2.08 annualized dividend and a yield of 0.97%. Stryker’s payout ratio is presently 28.45%.
In other news, COO Timothy J. Scannell sold 4,666 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $217.08, for a total value of $1,012,895.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Glenn S. Boehnlein sold 2,700 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $214.16, for a total value of $578,232.00. Following the completion of the transaction, the chief financial officer now directly 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. In the last quarter, insiders have sold 51,637 shares of company stock worth $11,240,206. Company insiders own 7.20% of the company’s stock.
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: Why do company’s buyback their stock?
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.