Chemical Bank grew its holdings in shares of Stryker Co. (NYSE:SYK) by 50.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,226 shares of the medical technology company’s stock after purchasing an additional 6,120 shares during the period. Chemical Bank’s holdings in Stryker were worth $3,077,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quest Investment Management LLC acquired a new position in Stryker during the 2nd quarter worth approximately $12,762,000. Palisade Asset Management LLC increased its position in Stryker by 1.1% during the 2nd quarter. Palisade Asset Management LLC now owns 37,904 shares of the medical technology company’s stock worth $6,400,000 after purchasing an additional 420 shares during the period. Wade G W & Inc. increased its position in Stryker by 21.4% during the 1st quarter. Wade G W & Inc. now owns 4,096 shares of the medical technology company’s stock worth $659,000 after purchasing an additional 722 shares during the period. JPMorgan Chase & Co. increased its position in Stryker by 59.2% during the 1st quarter. JPMorgan Chase & Co. now owns 358,818 shares of the medical technology company’s stock worth $57,740,000 after purchasing an additional 133,464 shares during the period. Finally, Tandem Investment Advisors Inc. increased its position in Stryker by 1.1% during the 2nd quarter. Tandem Investment Advisors Inc. now owns 51,312 shares of the medical technology company’s stock worth $8,665,000 after purchasing an additional 535 shares during the period. Institutional investors own 74.40% of the company’s stock.
A number of equities research analysts recently weighed in on SYK shares. Cantor Fitzgerald restated a “neutral” rating on shares of Stryker in a report on Friday, April 27th. Stifel Nicolaus upped their price target on Stryker from $183.00 to $187.00 and gave the stock a “buy” rating in a report on Friday, April 27th. BMO Capital Markets upped their price target on Stryker to $170.00 and gave the stock a “market perform” rating in a report on Friday, April 27th. They noted that the move was a valuation call. Canaccord Genuity upped their price target on Stryker from $176.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, April 27th. Finally, Citigroup upped their price target on Stryker from $166.00 to $171.00 and gave the stock a “neutral” rating in a report on Tuesday, May 1st. One research 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’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $176.43.
Shares of NYSE:SYK opened at $168.90 on Tuesday. The firm has a market cap of $62.04 billion, a price-to-earnings ratio of 26.02, a P/E/G ratio of 2.35 and a beta of 0.62. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.15 and a current ratio of 1.83. Stryker Co. has a one year low of $137.70 and a one year high of $179.84.
Stryker (NYSE:SYK) last announced its earnings results on Tuesday, July 24th. The medical technology company reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.03. The firm had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Stryker had a return on equity of 26.93% and a net margin of 8.28%. Stryker’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.53 EPS. equities research analysts forecast that Stryker Co. will post 7.25 earnings per share for the current year.
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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