Shell Asset Management Co. lowered its holdings in Stryker Co. (NYSE:SYK) by 2.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,420 shares of the medical technology company’s stock after selling 1,622 shares during the period. Shell Asset Management Co.’s holdings in Stryker were worth $11,268,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Commonwealth Bank of Australia increased its position in shares of Stryker by 1.8% in the third quarter. Commonwealth Bank of Australia now owns 17,102 shares of the medical technology company’s stock worth $3,032,000 after acquiring an additional 300 shares in the last quarter. CapWealth Advisors LLC increased its position in shares of Stryker by 0.8% in the second quarter. CapWealth Advisors LLC now owns 40,753 shares of the medical technology company’s stock worth $6,882,000 after acquiring an additional 310 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Stryker by 1.5% in the second quarter. Janney Montgomery Scott LLC now owns 21,307 shares of the medical technology company’s stock worth $3,598,000 after acquiring an additional 316 shares in the last quarter. Associated Banc Corp increased its position in shares of Stryker by 12.2% in the second quarter. Associated Banc Corp now owns 2,994 shares of the medical technology company’s stock worth $506,000 after acquiring an additional 325 shares in the last quarter. Finally, North Star Asset Management Inc. increased its position in shares of Stryker by 0.3% in the third quarter. North Star Asset Management Inc. now owns 96,053 shares of the medical technology company’s stock worth $17,067,000 after acquiring an additional 328 shares in the last quarter. 74.87% of the stock is currently owned by institutional investors.
In related news, VP Katherine Ann Owen sold 37,866 shares of the business’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $166.84, for a total transaction of $6,317,563.44. Following the transaction, the vice president now owns 11,367 shares of the company’s stock, valued at $1,896,470.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP M Kathryn Fink sold 415 shares of the business’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $166.56, for a total transaction of $69,122.40. The disclosure for this sale can be found here. Insiders sold 39,031 shares of company stock valued at $6,520,313 over the last 90 days. 7.30% of the stock is owned by corporate insiders.
NYSE SYK opened at $164.80 on Monday. The company has a quick ratio of 1.21, a current ratio of 1.91 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $61.67 billion, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 2.27 and a beta of 0.64. Stryker Co. has a 12-month low of $146.80 and a 12-month high of $179.84.
Stryker (NYSE:SYK) last posted its earnings results on Thursday, October 25th. The medical technology company reported $1.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.01. The firm had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Stryker had a net margin of 9.31% and a return on equity of 28.00%. As a group, analysts anticipate that Stryker Co. will post 7.28 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend was Thursday, September 27th. Stryker’s payout ratio is 28.97%.
SYK has been the topic of several analyst reports. Zacks Investment Research raised shares of Stryker from a “hold” rating to a “buy” rating and set a $186.00 target price on the stock in a research report on Tuesday, August 7th. Cowen set a $195.00 price target on shares of Stryker and gave the stock a “buy” rating in a report on Friday, November 9th. BTIG Research began coverage on shares of Stryker in a report on Thursday, August 16th. They set a “buy” rating and a $187.00 price target for the company. Needham & Company LLC restated a “hold” rating on shares of Stryker in a report on Tuesday, September 11th. Finally, Oppenheimer set a $170.00 price target on shares of Stryker and gave the stock a “hold” rating in a report on Friday, October 26th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $181.86.
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Stryker Company Profile
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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