Rock Point Advisors LLC lowered its position in Stryker Co. (NYSE:SYK) by 3.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,633 shares of the medical technology company’s stock after selling 893 shares during the quarter. Stryker makes up approximately 2.0% of Rock Point Advisors LLC’s portfolio, making the stock its 19th biggest position. Rock Point Advisors LLC’s holdings in Stryker were worth $4,160,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of SYK. AustralianSuper Pty Ltd purchased a new stake in Stryker in the first quarter valued at approximately $133,467,000. BlackRock Inc. lifted its stake in Stryker by 2.0% in the first quarter. BlackRock Inc. now owns 23,905,172 shares of the medical technology company’s stock valued at $3,846,819,000 after buying an additional 458,485 shares during the last quarter. WCM Investment Management CA purchased a new stake in Stryker in the first quarter valued at approximately $70,349,000. Carmignac Gestion lifted its stake in Stryker by 36.6% in the first quarter. Carmignac Gestion now owns 1,599,867 shares of the medical technology company’s stock valued at $257,451,000 after buying an additional 428,789 shares during the last quarter. Finally, Summit Trail Advisors LLC lifted its stake in Stryker by 26,609.0% in the first quarter. Summit Trail Advisors LLC now owns 315,700 shares of the medical technology company’s stock valued at $316,000 after buying an additional 314,518 shares during the last quarter. Institutional investors own 74.47% of the company’s stock.
SYK has been the subject of a number of research reports. ValuEngine upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, June 26th. Canaccord Genuity reiterated a “buy” rating and issued a $185.00 price objective on shares of Stryker in a research note on Wednesday, July 25th. Royal Bank of Canada reiterated a “buy” rating and issued a $184.00 price objective on shares of Stryker in a research note on Wednesday, July 25th. Zacks Investment Research cut Stryker from a “buy” rating to a “hold” rating in a research note on Thursday, May 24th. Finally, Cantor Fitzgerald restated a “hold” rating and set a $170.00 price target on shares of Stryker in a research note on Wednesday, June 13th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $176.43.
Stryker stock opened at $168.90 on Tuesday. Stryker Co. has a 12 month low of $137.70 and a 12 month high of $179.84. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.83 and a quick ratio of 1.15. The company has a market cap of $63.57 billion, a PE ratio of 26.02, a P/E/G ratio of 2.39 and a beta of 0.62.
Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, July 24th. The medical technology company reported $1.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.03. Stryker had a return on equity of 26.93% and a net margin of 8.28%. The business had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter in the prior year, the business earned $1.53 earnings per share. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. sell-side analysts anticipate that Stryker Co. will post 7.25 EPS for the current fiscal year.
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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