Keybank National Association OH reduced its position in shares of Stryker Co. (NYSE:SYK) by 0.4% in the second quarter, HoldingsChannel.com reports. The firm owned 166,594 shares of the medical technology company’s stock after selling 645 shares during the quarter. Keybank National Association OH’s holdings in Stryker were worth $28,131,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in shares of Stryker by 2.0% during the 1st quarter. BlackRock Inc. now owns 23,905,172 shares of the medical technology company’s stock valued at $3,846,819,000 after purchasing an additional 458,485 shares during the period. Wells Fargo & Company MN grew its stake in shares of Stryker by 3.2% during the 2nd quarter. Wells Fargo & Company MN now owns 2,037,752 shares of the medical technology company’s stock valued at $344,094,000 after purchasing an additional 63,251 shares during the period. Carmignac Gestion grew its stake in shares of Stryker by 36.6% during the 1st quarter. Carmignac Gestion now owns 1,599,867 shares of the medical technology company’s stock valued at $257,451,000 after purchasing an additional 428,789 shares during the period. Schwab Charles Investment Management Inc. grew its stake in shares of Stryker by 1.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,220,946 shares of the medical technology company’s stock valued at $206,169,000 after purchasing an additional 22,244 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Stryker by 7.2% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,105,781 shares of the medical technology company’s stock valued at $186,722,000 after purchasing an additional 74,300 shares during the period. Institutional investors and hedge funds own 74.47% of the company’s stock.
A number of research firms have issued reports on SYK. Zacks Investment Research upgraded Stryker from a “hold” rating to a “buy” rating and set a $196.00 price target for the company in a research note on Friday, June 1st. Citigroup lifted their price objective on Stryker from $171.00 to $173.00 and gave the company a “neutral” rating in a research report on Wednesday, July 25th. Canaccord Genuity lifted their price objective on Stryker from $176.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, April 27th. Sanford C. Bernstein started coverage on Stryker in a research report on Wednesday, June 27th. They set a “market perform” rating and a $177.00 price objective on the stock. Finally, Cantor Fitzgerald lifted their price objective on Stryker from $170.00 to $175.00 and gave the company a “neutral” rating in a research report on Wednesday, July 25th. One investment 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 has an average rating of “Buy” and a consensus price target of $176.43.
NYSE SYK opened at $168.90 on Tuesday. 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. 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 fifty-two week low of $137.70 and a fifty-two week high of $179.84.
Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, July 24th. The medical technology company reported $1.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.03. The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate 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 company posted $1.53 EPS. equities analysts expect that Stryker Co. will post 7.25 earnings per share for the current 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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