PFG Advisors lowered its stake in shares of Stryker Co. (NYSE:SYK) by 1.5% during the first quarter, HoldingsChannel reports. The firm owned 7,400 shares of the medical technology company’s stock after selling 115 shares during the quarter. PFG Advisors’ holdings in Stryker were worth $1,398,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Stryker by 4.1% during the 4th quarter. BlackRock Inc. now owns 24,882,912 shares of the medical technology company’s stock worth $3,900,399,000 after purchasing an additional 975,678 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Stryker by 8,029.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,075,473 shares of the medical technology company’s stock worth $39,000 after purchasing an additional 6,000,739 shares in the last quarter. FMR LLC grew its holdings in shares of Stryker by 6.3% during the 4th quarter. FMR LLC now owns 5,934,622 shares of the medical technology company’s stock worth $930,251,000 after purchasing an additional 353,028 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Stryker by 3.6% during the 4th quarter. Northern Trust Corp now owns 3,857,399 shares of the medical technology company’s stock worth $604,647,000 after purchasing an additional 132,857 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Stryker by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 3,665,205 shares of the medical technology company’s stock worth $573,387,000 after purchasing an additional 224,785 shares in the last quarter. Institutional investors and hedge funds own 74.71% of the company’s stock.
NYSE:SYK opened at $184.31 on Tuesday. The stock has a market capitalization of $68.70 billion, a P/E ratio of 25.21, a price-to-earnings-growth ratio of 2.24 and a beta of 0.84. The company has a current ratio of 2.12, a quick ratio of 1.30 and a debt-to-equity ratio of 0.68. Stryker Co. has a twelve month low of $144.75 and a twelve month high of $199.85.
Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, April 23rd. The medical technology company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.04. The business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.51 billion. Stryker had a return on equity of 26.72% and a net margin of 25.38%. Stryker’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the firm posted $1.68 earnings per share. Equities analysts predict that Stryker Co. will post 8.15 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Thursday, June 27th. Stryker’s dividend payout ratio (DPR) is presently 28.45%.
Several analysts have recently issued reports on the company. Zacks Investment Research lowered Stryker from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Canaccord Genuity increased their target price on Stryker from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Deutsche Bank increased their target price on Stryker from $181.00 to $208.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Oppenheimer increased their target price on Stryker from $183.00 to $192.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Finally, Wells Fargo & Co increased their target price on Stryker from $214.00 to $219.00 and gave the stock an “outperform” rating in a report on Monday, April 1st. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Stryker has a consensus rating of “Buy” and a consensus target price of $196.85.
In other Stryker news, Chairman Kevin Lobo sold 41,750 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $194.11, for a total value of $8,104,092.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Glenn S. Boehnlein sold 2,700 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $188.21, for a total value of $508,167.00. Following the completion of the transaction, the chief financial officer now owns 23,333 shares of the company’s stock, valued at $4,391,503.93. The disclosure for this sale can be found here. Insiders sold 111,550 shares of company stock worth $21,376,317 over the last ninety days. 7.20% of the stock is currently owned by insiders.
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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