Davis Rea Ltd. lifted its position in shares of Stryker Corporation (NYSE:SYK) by 0.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,857 shares of the medical technology company’s stock after acquiring an additional 265 shares during the quarter. Stryker Corporation accounts for approximately 4.5% of Davis Rea Ltd.’s investment portfolio, making the stock its 9th biggest holding. Davis Rea Ltd.’s holdings in Stryker Corporation were worth $7,080,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Bollard Group LLC lifted its stake in Stryker Corporation by 0.4% in the 2nd quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock valued at $115,000 after buying an additional 3 shares in the last quarter. Assetmark Inc. lifted its stake in Stryker Corporation by 0.3% in the 1st quarter. Assetmark Inc. now owns 1,274 shares of the medical technology company’s stock valued at $168,000 after buying an additional 4 shares in the last quarter. Blue Chip Partners Inc. lifted its stake in Stryker Corporation by 0.3% in the 1st quarter. Blue Chip Partners Inc. now owns 1,775 shares of the medical technology company’s stock valued at $234,000 after buying an additional 6 shares in the last quarter. Guardian Life Insurance Co. of America lifted its stake in Stryker Corporation by 0.8% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,199 shares of the medical technology company’s stock valued at $158,000 after buying an additional 9 shares in the last quarter. Finally, FineMark National Bank & Trust raised its holdings in Stryker Corporation by 0.4% in the 2nd quarter. FineMark National Bank & Trust now owns 3,878 shares of the medical technology company’s stock valued at $538,000 after acquiring an additional 15 shares during the last quarter. 74.18% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have commented on SYK. Zacks Investment Research downgraded shares of Stryker Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. BidaskClub downgraded shares of Stryker Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Oppenheimer Holdings, Inc. set a $148.00 price target on shares of Stryker Corporation and gave the stock a “hold” rating in a report on Friday, July 28th. Jefferies Group LLC restated a “hold” rating and set a $132.00 price target on shares of Stryker Corporation in a report on Friday, June 30th. Finally, Cowen and Company reaffirmed a “buy” rating and set a $160.00 price objective (up previously from $150.00) on shares of Stryker Corporation in a research report on Sunday, July 30th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $145.73.
In other Stryker Corporation news, insider Lonny J. Carpenter sold 5,000 shares of Stryker Corporation 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 sale, the insider now owns 88,207 shares in the company, valued at $12,909,976.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Graham A. Mclean sold 1,124 shares of Stryker Corporation stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $146.26, for a total transaction of $164,396.24. Following the sale, the insider now owns 8,983 shares in the company, valued at approximately $1,313,853.58. The disclosure for this sale can be found here. In the last three months, insiders sold 25,429 shares of company stock worth $3,686,927. Insiders own 7.40% of the company’s stock.
Stryker Corporation (NYSE:SYK) opened at 143.88 on Friday. The stock’s 50 day moving average is $143.77 and its 200-day moving average is $138.65. Stryker Corporation has a 52 week low of $106.48 and a 52 week high of $148.84. The firm has a market capitalization of $53.82 billion, a price-to-earnings ratio of 32.12 and a beta of 0.81.
Stryker Corporation (NYSE:SYK) last released its quarterly earnings results on Thursday, July 27th. The medical technology company reported $1.53 EPS for the quarter, beating the Zacks’ 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 company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter last year, the firm posted $1.39 earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts expect that Stryker Corporation will post $6.46 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Thursday, September 28th. Stryker Corporation’s dividend payout ratio is 37.95%.
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Stryker Corporation Profile
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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