Tredje AP fonden trimmed its stake in Stryker Co. (NYSE:SYK) by 6.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,555 shares of the medical technology company’s stock after selling 1,661 shares during the period. Tredje AP fonden’s holdings in Stryker were worth $3,448,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Firestone Capital Management purchased a new stake in shares of Stryker in the 4th quarter worth about $42,000. Princeton Global Asset Management LLC purchased a new stake in shares of Stryker in the 4th quarter worth about $29,000. Procyon Private Wealth Partners LLC purchased a new stake in shares of Stryker in the 4th quarter worth about $31,000. Lloyd Advisory Services LLC. purchased a new stake in shares of Stryker in the 4th quarter worth about $33,000. Finally, Evolution Wealth Advisors LLC purchased a new stake in shares of Stryker in the 4th quarter worth about $33,000. 73.07% of the stock is owned by hedge funds and other institutional investors.
Shares of SYK stock traded down $0.95 during trading hours on Friday, reaching $184.14. The company had a trading volume of 1,659,719 shares, compared to its average volume of 1,767,916. The business has a fifty day moving average price of $180.04 and a 200-day moving average price of $195.08. Stryker Co. has a one year low of $124.54 and a one year high of $226.30. The firm has a market cap of $69.38 billion, a PE ratio of 32.36, a price-to-earnings-growth ratio of 3.24 and a beta of 0.85. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.77 and a current ratio of 2.58.
Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, April 30th. The medical technology company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.15. Stryker had a net margin of 14.47% and a return on equity of 24.90%. The firm had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same period in the previous year, the business posted $1.88 earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities research analysts forecast that Stryker Co. will post 6.2 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a $0.575 dividend. The ex-dividend date is Monday, June 29th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.25%. Stryker’s dividend payout ratio is presently 27.85%.
Several research firms have recently commented on SYK. Barclays cut shares of Stryker from an “equal weight” rating to an “underweight” rating and set a $155.00 target price for the company. in a research report on Monday, April 13th. Goldman Sachs Group cut shares of Stryker from a “buy” rating to a “sell” rating and lowered their price target for the company from $248.00 to $150.00 in a research report on Wednesday, April 1st. Morgan Stanley lifted their price target on shares of Stryker from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Citigroup lifted their price target on shares of Stryker from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, BTIG Research reissued a “buy” rating on shares of Stryker in a research report on Thursday, January 30th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Stryker currently has a consensus rating of “Buy” and a consensus target price of $214.23.
In related news, Director Srikant M. Datar sold 200 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $194.32, for a total value of $38,864.00. Following the transaction, the director now owns 17,686 shares of the company’s stock, valued at $3,436,743.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Katherine Ann Owen sold 9,149 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $186.79, for a total transaction of $1,708,941.71. Following the completion of the transaction, the vice president now directly owns 1,085 shares in the company, valued at approximately $202,667.15. The disclosure for this sale can be found here. Insiders sold 12,670 shares of company stock valued at $2,380,526 over the last quarter. Company insiders own 6.80% of the company’s stock.
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.
Further Reading: Return On Assets
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