AustralianSuper Pty Ltd increased its position in shares of Stryker Co. (NYSE:SYK) by 12.5% during the third quarter, HoldingsChannel.com reports. The fund owned 1,050,000 shares of the medical technology company’s stock after acquiring an additional 117,000 shares during the quarter. Stryker accounts for approximately 3.5% of AustralianSuper Pty Ltd’s investment portfolio, making the stock its 13th largest position. AustralianSuper Pty Ltd’s holdings in Stryker were worth $186,564,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in SYK. MayTech Global Investments LLC increased its stake in Stryker by 9.5% in the 2nd quarter. MayTech Global Investments LLC now owns 18,487 shares of the medical technology company’s stock worth $3,122,000 after purchasing an additional 1,604 shares in the last quarter. First Citizens Bank & Trust Co. increased its stake in Stryker by 318.9% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 6,840 shares of the medical technology company’s stock worth $1,216,000 after purchasing an additional 5,207 shares in the last quarter. Chartwell Investment Partners LLC purchased a new position in Stryker in the 2nd quarter worth about $1,409,000. Arrow Financial Corp increased its stake in Stryker by 3.5% in the 3rd quarter. Arrow Financial Corp now owns 26,549 shares of the medical technology company’s stock worth $4,716,000 after purchasing an additional 906 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its stake in Stryker by 1.4% in the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 40,024 shares of the medical technology company’s stock worth $6,758,000 after purchasing an additional 544 shares in the last quarter. 74.84% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on SYK. Oppenheimer set a $170.00 price target on Stryker and gave the stock a “hold” rating in a research note on Friday, November 9th. Citigroup lifted their price target on Stryker from $173.00 to $174.00 and gave the stock a “neutral” rating in a research note on Thursday. Canaccord Genuity reaffirmed a “buy” rating and set a $185.00 target price on shares of Stryker in a research note on Wednesday, July 25th. Zacks Investment Research raised Stryker from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a research note on Tuesday, October 30th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Stryker in a research note on Friday, November 9th. Seven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Stryker presently has a consensus rating of “Buy” and a consensus target price of $181.86.
NYSE:SYK opened at $172.16 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.21 and a current ratio of 1.91. Stryker Co. has a fifty-two week low of $146.80 and a fifty-two week high of $179.84. The stock has a market cap of $64.42 billion, a price-to-earnings ratio of 26.53, a price-to-earnings-growth ratio of 2.37 and a beta of 0.64.
Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, October 25th. The medical technology company reported $1.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.01. The business had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.26 billion. Stryker had a return on equity of 28.00% and a net margin of 9.31%. As a group, equities analysts forecast that Stryker Co. will post 7.28 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $1.88 annualized dividend and a dividend yield of 1.09%. Stryker’s dividend payout ratio is 28.97%.
In other news, VP Katherine Ann Owen sold 37,866 shares of Stryker stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $166.84, for a total transaction of $6,317,563.44. Following the completion of the sale, the vice president now directly owns 11,367 shares in the company, valued at approximately $1,896,470.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Glenn S. Boehnlein sold 750 shares of Stryker stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $178.17, for a total value of $133,627.50. Following the sale, the chief financial officer now owns 2,785 shares of the company’s stock, valued at $496,203.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,031 shares of company stock valued at $6,520,313. 7.40% of the stock is owned by corporate insiders.
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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.
Further Reading: Cost of Capital Explained
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