Oak Associates Ltd. OH cut its stake in Stryker Corporation (NYSE:SYK) by 14.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,310 shares of the medical technology company’s stock after selling 2,990 shares during the period. Oak Associates Ltd. OH’s holdings in Stryker Corporation were worth $2,279,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Stryker Corporation by 5.2% in the first quarter. Vanguard Group Inc. now owns 23,421,053 shares of the medical technology company’s stock valued at $3,083,382,000 after buying an additional 1,161,688 shares during the last quarter. BlackRock Inc. increased its position in shares of Stryker Corporation by 2,526.4% in the first quarter. BlackRock Inc. now owns 21,976,771 shares of the medical technology company’s stock valued at $2,893,242,000 after buying an additional 21,140,000 shares during the last quarter. Fundsmith LLP increased its position in shares of Stryker Corporation by 4.6% in the first quarter. Fundsmith LLP now owns 5,175,453 shares of the medical technology company’s stock valued at $681,348,000 after buying an additional 226,057 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Stryker Corporation by 0.5% in the first quarter. Wellington Management Group LLP now owns 4,569,118 shares of the medical technology company’s stock valued at $601,525,000 after buying an additional 24,139 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Stryker Corporation by 6.3% in the first quarter. Geode Capital Management LLC now owns 2,786,406 shares of the medical technology company’s stock valued at $366,255,000 after buying an additional 166,133 shares during the last quarter. 73.99% of the stock is owned by institutional investors.
Shares of Stryker Corporation (NYSE SYK) traded down 0.51% during trading on Tuesday, reaching $145.98. 79,883 shares of the company were exchanged. The stock’s 50 day moving average is $142.76 and its 200 day moving average is $134.44. Stryker Corporation has a 1-year low of $106.48 and a 1-year high of $148.84. The company has a market capitalization of $54.61 billion, a price-to-earnings ratio of 32.58 and a beta of 0.80.
Stryker Corporation (NYSE:SYK) last released its quarterly earnings data on Thursday, July 27th. The medical technology company reported $1.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.02. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter last year, the business earned $1.39 earnings per share. Stryker Corporation’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities analysts anticipate that Stryker Corporation will post $6.50 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a dividend of $0.425 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.70 annualized dividend and a yield of 1.16%. Stryker Corporation’s dividend payout ratio (DPR) is currently 37.95%.
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Several research analysts have commented on SYK shares. Deutsche Bank AG reissued a “buy” rating and issued a $148.00 price target (up from $135.00) on shares of Stryker Corporation in a report on Saturday, April 29th. BidaskClub downgraded shares of Stryker Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Zacks Investment Research raised shares of Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 price target for the company in a report on Monday, July 17th. Stifel Nicolaus raised their price target on shares of Stryker Corporation from $151.00 to $158.00 and gave the company a “buy” rating in a report on Friday, July 28th. Finally, Cowen and Company reissued a “buy” rating and issued a $160.00 price target (up from $150.00) on shares of Stryker Corporation in a report on Sunday, July 30th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $144.03.
In other Stryker Corporation news, insider David Floyd sold 19,305 shares of the stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $144.56, for a total transaction of $2,790,730.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lonny J. Carpenter sold 5,000 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $146.36, for a total transaction of $731,800.00. Following the transaction, the insider now owns 88,207 shares of the company’s stock, valued at approximately $12,909,976.52. The disclosure for this sale can be found here. Insiders have sold 31,686 shares of company stock valued at $4,590,562 in the last quarter. 7.40% of the stock is owned by company insiders.
About Stryker Corporation
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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