Davis R M Inc. lessened its stake in shares of Stryker Corporation (NYSE:SYK) by 2.6% in the fourth quarter, Holdings Channel reports. The fund owned 207,573 shares of the medical technology company’s stock after selling 5,600 shares during the quarter. Davis R M Inc.’s holdings in Stryker were worth $32,141,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Acrospire Investment Management LLC acquired a new stake in shares of Stryker during the 2nd quarter valued at $111,000. Motco lifted its position in shares of Stryker by 50.7% during the 2nd quarter. Motco now owns 826 shares of the medical technology company’s stock valued at $115,000 after acquiring an additional 278 shares during the last quarter. Sawyer & Company Inc acquired a new stake in shares of Stryker during the 4th quarter valued at $125,000. Sit Investment Associates Inc. lifted its position in shares of Stryker by 114.3% during the 4th quarter. Sit Investment Associates Inc. now owns 825 shares of the medical technology company’s stock valued at $128,000 after acquiring an additional 440 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA lifted its position in shares of Stryker by 47.8% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 1,005 shares of the medical technology company’s stock valued at $143,000 after acquiring an additional 325 shares during the last quarter. Institutional investors own 74.88% of the company’s stock.
In other news, insider Lonny J. Carpenter sold 5,000 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $155.34, for a total value of $776,700.00. Following the transaction, the insider now directly owns 83,207 shares of the company’s stock, valued at $12,925,375.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 7.40% of the company’s stock.
Stryker Corporation (NYSE:SYK) traded down $0.37 during midday trading on Tuesday, hitting $158.23. 1,138,900 shares of the stock were exchanged, compared to its average volume of 1,207,278. Stryker Corporation has a 1-year low of $119.17 and a 1-year high of $164.20. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.37 and a quick ratio of 1.61. The firm has a market capitalization of $59,630.00, a P/E ratio of 33.74, a PEG ratio of 2.27 and a beta of 0.78.
Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.50 by $0.02. Stryker had a net margin of 14.67% and a return on equity of 24.11%. The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same period in the prior year, the business posted $1.39 earnings per share. Stryker’s revenue for the quarter was up 6.1% compared to the same quarter last year. analysts anticipate that Stryker Corporation will post 6.49 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This is an increase from Stryker’s previous quarterly dividend of $0.43. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.19%. Stryker’s dividend payout ratio is 40.09%.
A number of brokerages have recently commented on SYK. Royal Bank of Canada reiterated a “buy” rating and set a $155.00 price objective on shares of Stryker in a research report on Monday, October 2nd. Piper Jaffray Companies increased their target price on Stryker from $156.00 to $166.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. SunTrust Banks restated a “buy” rating and issued a $161.00 target price on shares of Stryker in a report on Monday, October 2nd. Oppenheimer set a $156.00 target price on Stryker and gave the company a “hold” rating in a report on Monday, October 30th. Finally, Barclays increased their target price on Stryker from $137.00 to $148.00 and gave the company an “underweight” rating in a report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $156.60.
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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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