Redmond Asset Management LLC trimmed its position in shares of Stryker Co. (NYSE:SYK) by 2.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,795 shares of the medical technology company’s stock after selling 297 shares during the period. Stryker accounts for approximately 1.0% of Redmond Asset Management LLC’s investment portfolio, making the stock its 27th biggest position. Redmond Asset Management LLC’s holdings in Stryker were worth $2,425,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. D.B. Root & Company LLC boosted its position in Stryker by 3.0% during the second quarter. D.B. Root & Company LLC now owns 1,724 shares of the medical technology company’s stock worth $354,000 after purchasing an additional 50 shares during the period. Independence Bank of Kentucky boosted its position in Stryker by 4.9% during the first quarter. Independence Bank of Kentucky now owns 1,180 shares of the medical technology company’s stock worth $233,000 after purchasing an additional 55 shares during the period. Benedict Financial Advisors Inc. boosted its position in Stryker by 1.1% during the first quarter. Benedict Financial Advisors Inc. now owns 5,235 shares of the medical technology company’s stock worth $1,034,000 after purchasing an additional 57 shares during the period. Berman Capital Advisors LLC boosted its position in Stryker by 11.1% during the first quarter. Berman Capital Advisors LLC now owns 571 shares of the medical technology company’s stock worth $112,000 after purchasing an additional 57 shares during the period. Finally, Bailard Inc. boosted its position in Stryker by 0.6% during the second quarter. Bailard Inc. now owns 9,219 shares of the medical technology company’s stock worth $1,895,000 after purchasing an additional 57 shares during the period. Institutional investors and hedge funds own 73.48% of the company’s stock.
In related news, insider Timothy J. Scannell sold 4,666 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $205.88, for a total transaction of $960,636.08. Following the completion of the sale, the insider now owns 155,963 shares of the company’s stock, valued at $32,109,662.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Glenn S. Boehnlein sold 2,700 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $214.16, for a total transaction of $578,232.00. Following the sale, the chief financial officer now directly owns 20,633 shares of the company’s stock, valued at approximately $4,418,763.28. The disclosure for this sale can be found here. Insiders have sold 15,431 shares of company stock valued at $3,174,489 in the last ninety days. 7.20% of the stock is currently owned by company insiders.
Shares of Stryker stock traded up $3.35 during trading on Thursday, reaching $215.41. The company’s stock had a trading volume of 16,381 shares, compared to its average volume of 1,090,678. The firm’s 50-day moving average price is $210.23. The firm has a market capitalization of $81.21 billion, a price-to-earnings ratio of 29.38, a PEG ratio of 2.64 and a beta of 0.85. Stryker Co. has a 52 week low of $144.75 and a 52 week high of $222.59. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 2.07.
Stryker (NYSE:SYK) last announced its earnings results on Thursday, July 25th. The medical technology company reported $1.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.93 by $0.05. The company had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.60 billion. Stryker had a net margin of 24.99% and a return on equity of 25.98%. Stryker’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.76 earnings per share. On average, equities analysts forecast that Stryker Co. will post 8.2 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, September 27th. This represents a $2.08 annualized dividend and a yield of 0.97%. Stryker’s dividend payout ratio is 28.45%.
A number of equities analysts have commented on SYK shares. BTIG Research reaffirmed a “buy” rating and set a $228.00 price objective on shares of Stryker in a research report on Monday, July 29th. Piper Jaffray Companies lifted their price objective on shares of Stryker from $205.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Svb Leerink reaffirmed an “outperform” rating on shares of Stryker in a research report on Wednesday, July 10th. Royal Bank of Canada set a $220.00 price objective on shares of Stryker and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Oppenheimer boosted their target price on shares of Stryker from $183.00 to $192.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $214.89.
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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