Addenda Capital Inc. lessened its stake in shares of Stryker Co. (NYSE:SYK) by 8.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 25,563 shares of the medical technology company’s stock after selling 2,383 shares during the period. Addenda Capital Inc.’s holdings in Stryker were worth $4,327,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of SYK. HC Financial Advisors Inc. bought a new position in shares of Stryker during the 4th quarter worth approximately $1,197,000. MML Investors Services LLC lifted its position in shares of Stryker by 14.8% during the 4th quarter. MML Investors Services LLC now owns 3,746 shares of the medical technology company’s stock worth $580,000 after buying an additional 482 shares during the period. Thrivent Financial For Lutherans lifted its position in shares of Stryker by 2.4% during the 4th quarter. Thrivent Financial For Lutherans now owns 17,092 shares of the medical technology company’s stock worth $2,646,000 after buying an additional 398 shares during the period. QS Investors LLC lifted its position in shares of Stryker by 5.3% during the 4th quarter. QS Investors LLC now owns 13,992 shares of the medical technology company’s stock worth $2,167,000 after buying an additional 701 shares during the period. Finally, Raymond James & Associates lifted its position in shares of Stryker by 4.8% during the 4th quarter. Raymond James & Associates now owns 161,861 shares of the medical technology company’s stock worth $25,063,000 after buying an additional 7,399 shares during the period. Institutional investors and hedge funds own 74.93% of the company’s stock.
Stryker opened at $174.30 on Friday, according to Marketbeat.com. The firm has a market capitalization of $64.81 billion, a PE ratio of 26.86, a PEG ratio of 2.47 and a beta of 0.70. Stryker Co. has a 52 week low of $137.70 and a 52 week high of $179.84. The company has a quick ratio of 1.08, a current ratio of 1.64 and a debt-to-equity ratio of 0.64.
Stryker (NYSE:SYK) last released its earnings results on Thursday, April 26th. The medical technology company reported $1.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.08. The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.20 billion. Stryker had a return on equity of 25.65% and a net margin of 8.00%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the firm earned $1.48 EPS. equities research analysts expect that Stryker Co. will post 7.23 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 31st. Stockholders of record on Friday, June 29th will be paid a $0.47 dividend. The ex-dividend date is Thursday, June 28th. This represents a $1.88 annualized dividend and a dividend yield of 1.08%. Stryker’s dividend payout ratio (DPR) is currently 28.97%.
In other news, insider Lonny J. Carpenter sold 5,000 shares of Stryker stock in a transaction on Friday, May 4th. The stock was sold at an average price of $166.42, for a total value of $832,100.00. Following the completion of the sale, the insider now directly owns 101,675 shares of the company’s stock, valued at approximately $16,920,753.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Glenn S. Boehnlein sold 750 shares of Stryker stock in a transaction on Monday, April 16th. The shares were sold at an average price of $160.00, for a total value of $120,000.00. Following the completion of the sale, the chief financial officer now directly owns 3,535 shares of the company’s stock, valued at $565,600. The disclosure for this sale can be found here. Insiders sold a total of 8,401 shares of company stock valued at $1,389,515 over the last three months. Insiders own 7.40% of the company’s stock.
Several equities analysts recently commented on the company. Zacks Investment Research upgraded Stryker from a “hold” rating to a “buy” rating and set a $196.00 target price for the company in a research report on Friday, June 1st. BMO Capital Markets restated a “hold” rating and set a $174.00 target price on shares of Stryker in a research report on Thursday. ValuEngine upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, June 26th. Sanford C. Bernstein assumed coverage on Stryker in a research report on Wednesday, June 27th. They set a “market perform” rating and a $177.00 target price for the company. Finally, Citigroup raised their target price on Stryker from $166.00 to $171.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $174.15.
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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