Trust Co. of Virginia VA lowered its position in Stryker Co. (NYSE:SYK) by 12.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,795 shares of the medical technology company’s stock after selling 700 shares during the quarter. Trust Co. of Virginia VA’s holdings in Stryker were worth $947,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in SYK. ERTS Wealth Advisors LLC purchased a new position in Stryker during the 4th quarter valued at about $25,000. Farmers National Bank bought a new stake in shares of Stryker during the 1st quarter valued at about $25,000. Northwest Wealth Management LLC boosted its position in shares of Stryker by 103.6% during the 4th quarter. Northwest Wealth Management LLC now owns 169 shares of the medical technology company’s stock valued at $26,000 after acquiring an additional 86 shares during the last quarter. Semmax Financial Advisors Inc. bought a new stake in shares of Stryker during the 4th quarter valued at about $28,000. Finally, Horan Securities Inc. bought a new stake in Stryker in the 4th quarter worth approximately $30,000. 74.71% of the stock is owned by institutional investors.
In other news, CFO Glenn S. Boehnlein sold 2,700 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $188.21, for a total value of $508,167.00. Following the sale, the chief financial officer now directly owns 23,333 shares of the company’s stock, valued at $4,391,503.93. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Bijoy Sagar sold 2,000 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $190.43, for a total value of $380,860.00. Following the completion of the sale, the vice president now directly owns 3,350 shares in the company, valued at $637,940.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,550 shares of company stock worth $21,376,317. 7.20% of the stock is owned by insiders.
SYK has been the subject of a number of recent research reports. SunTrust Banks boosted their target price on Stryker to $205.00 and gave the stock a “positive” rating in a research report on Monday, February 4th. Royal Bank of Canada boosted their target price on Stryker from $184.00 to $204.00 and gave the stock an “outperform” rating in a research report on Monday, March 11th. Credit Suisse Group upgraded Stryker to an “outperform” rating in a research report on Thursday, January 31st. Wells Fargo & Co boosted their price objective on Stryker from $214.00 to $219.00 and gave the company an “outperform” rating in a research report on Monday, April 1st. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $205.00 price objective on shares of Stryker in a research report on Friday, March 1st. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $196.85.
Shares of SYK traded up $0.64 during mid-day trading on Wednesday, hitting $186.09. 8,485 shares of the company’s stock traded hands, compared to its average volume of 1,362,715. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.30 and a current ratio of 2.12. Stryker Co. has a 1 year low of $144.75 and a 1 year high of $199.85. The stock has a market capitalization of $68.70 billion, a PE ratio of 25.42, a price-to-earnings-growth ratio of 2.24 and a beta of 0.84.
Stryker (NYSE:SYK) last posted its earnings results on Tuesday, April 23rd. The medical technology company reported $1.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.84 by $0.04. The firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.51 billion. Stryker had a return on equity of 26.72% and a net margin of 25.38%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.68 earnings per share. Research analysts forecast that Stryker Co. will post 8.15 EPS for the current fiscal year.
The company also recently declared 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. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $2.08 annualized dividend and a yield of 1.12%. Stryker’s payout ratio is 28.45%.
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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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