PGGM Investments purchased a new position in shares of Stryker Co. (NYSE:SYK) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 283,520 shares of the medical technology company’s stock, valued at approximately $59,522,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Nuveen Asset Management LLC boosted its position in Stryker by 20,218.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,596,110 shares of the medical technology company’s stock valued at $533,708,000 after buying an additional 2,583,333 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Stryker in the 2nd quarter valued at $60,571,000. State Street Corp lifted its stake in shares of Stryker by 1.7% in the 3rd quarter. State Street Corp now owns 13,462,431 shares of the medical technology company’s stock valued at $2,918,870,000 after purchasing an additional 229,189 shares during the period. State of New Jersey Common Pension Fund D lifted its stake in shares of Stryker by 490.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 265,900 shares of the medical technology company’s stock valued at $57,514,000 after purchasing an additional 220,900 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of Stryker by 48.2% in the 3rd quarter. First Trust Advisors LP now owns 643,933 shares of the medical technology company’s stock valued at $139,283,000 after purchasing an additional 209,552 shares during the period. Institutional investors and hedge funds own 73.16% of the company’s stock.
In related news, CFO Glenn S. Boehnlein sold 2,700 shares of Stryker stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $215.85, for a total transaction of $582,795.00. Following the completion of the transaction, the chief financial officer now owns 17,933 shares in the company, valued at $3,870,838.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Timothy J. Scannell sold 4,666 shares of Stryker stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $206.28, for a total value of $962,502.48. The disclosure for this sale can be found here. Insiders have sold 26,652 shares of company stock valued at $5,705,481 in the last quarter. 7.20% of the stock is currently owned by corporate insiders.
Shares of NYSE SYK traded up $4.55 during mid-day trading on Friday, hitting $214.01. The company had a trading volume of 711,700 shares, compared to its average volume of 1,277,633. The company has a market capitalization of $77.80 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 2.32 and a beta of 0.76. The firm has a 50-day simple moving average of $207.08 and a two-hundred day simple moving average of $211.05. The company has a current ratio of 2.18, a quick ratio of 1.35 and a debt-to-equity ratio of 0.64. Stryker Co. has a one year low of $160.79 and a one year high of $223.45.
Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $1.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.01. The company had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Stryker had a return on equity of 25.33% and a net margin of 23.55%. Stryker’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.69 EPS. Sell-side analysts expect that Stryker Co. will post 8.23 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.575 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $2.30 dividend on an annualized basis and a yield of 1.07%. This is a boost from Stryker’s previous quarterly dividend of $0.52. Stryker’s dividend payout ratio (DPR) is presently 31.46%.
A number of research firms have recently weighed in on SYK. Piper Sandler downgraded Stryker from an “overweight” rating to a “neutral” rating and set a $210.00 price target on the stock. in a research note on Tuesday, January 7th. SunTrust Banks started coverage on Stryker in a research note on Tuesday, January 7th. They set a “hold” rating and a $217.00 price objective on the stock. Piper Jaffray Companies downgraded Stryker from an “overweight” rating to a “neutral” rating and set a $210.00 price objective on the stock. in a research note on Tuesday, January 7th. Robert W. Baird raised their price objective on Stryker from $239.00 to $242.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Canaccord Genuity raised their price objective on Stryker from $233.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $222.16.
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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