EFG Asset Management Americas Corp. bought a new position in shares of Stryker Co. (NYSE:SYK) during the second quarter, Holdings Channel.com reports. The fund bought 1,343 shares of the medical technology company’s stock, valued at approximately $242,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fisher Asset Management LLC boosted its holdings in Stryker by 48,721.0% in the 1st quarter. Fisher Asset Management LLC now owns 1,301,567 shares of the medical technology company’s stock valued at $216,698,000 after purchasing an additional 1,298,901 shares in the last quarter. BlueSpruce Investments LP purchased a new stake in Stryker in the 1st quarter valued at approximately $194,038,000. Massachusetts Financial Services Co. MA boosted its holdings in Stryker by 20.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 6,216,034 shares of the medical technology company’s stock valued at $1,034,908,000 after purchasing an additional 1,069,721 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in Stryker by 519.3% in the 1st quarter. 1832 Asset Management L.P. now owns 1,199,607 shares of the medical technology company’s stock valued at $196,926,000 after purchasing an additional 1,005,913 shares in the last quarter. Finally, WCM Investment Management LLC boosted its holdings in Stryker by 97.7% in the 1st quarter. WCM Investment Management LLC now owns 1,425,836 shares of the medical technology company’s stock valued at $237,387,000 after purchasing an additional 704,585 shares in the last quarter. Institutional investors and hedge funds own 71.24% of the company’s stock.
In related news, CFO Glenn S. Boehnlein sold 10,351 shares of Stryker stock in a transaction on Monday, June 15th. The shares were sold at an average price of $185.24, for a total value of $1,917,419.24. Following the transaction, the chief financial officer now owns 16,321 shares in the company, valued at approximately $3,023,302.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Allan C. Golston sold 7,299 shares of Stryker stock in a transaction on Friday, May 29th. The stock was sold at an average price of $193.23, for a total transaction of $1,410,385.77. Following the completion of the transaction, the director now owns 13,972 shares in the company, valued at approximately $2,699,809.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,670 shares of company stock valued at $5,775,251. Insiders own 6.80% of the company’s stock.
A number of brokerages have weighed in on SYK. Zacks Investment Research lowered Stryker from a “hold” rating to a “sell” rating and set a $190.00 price objective on the stock. in a report on Monday, May 4th. Barclays lowered Stryker from an “equal weight” rating to an “underweight” rating and set a $155.00 price target on the stock. in a research note on Monday, April 13th. JPMorgan Chase & Co. decreased their price target on Stryker from $240.00 to $210.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 15th. UBS Group boosted their price target on Stryker from $202.00 to $215.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Oppenheimer reissued a “hold” rating and set a $215.00 price target on shares of Stryker in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $216.25.
SYK traded down $6.90 on Friday, hitting $193.30. 2,221,195 shares of the company’s stock were exchanged, compared to its average volume of 1,253,880. The stock has a fifty day moving average of $186.61 and a two-hundred day moving average of $189.31. Stryker Co. has a twelve month low of $124.54 and a twelve month high of $226.30. The firm has a market cap of $72.45 billion, a PE ratio of 45.91, a P/E/G ratio of 3.36 and a beta of 0.84. The company has a current ratio of 2.58, a quick ratio of 1.77 and a debt-to-equity ratio of 0.72.
Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, July 30th. The medical technology company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.63 billion. Stryker had a net margin of 11.38% and a return on equity of 20.53%. On average, analysts predict that Stryker Co. will post 6.26 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be paid a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Tuesday, September 29th. Stryker’s dividend payout ratio is 27.85%.
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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