Municipal Employees Retirement System of Michigan raised its stake in Stryker Co. (NYSE:SYK) by 1.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 4,280 shares of the medical technology company’s stock after buying an additional 80 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Stryker were worth $880,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. Royal London Asset Management Ltd. boosted its position in Stryker by 7.8% during the 2nd quarter. Royal London Asset Management Ltd. now owns 301,848 shares of the medical technology company’s stock worth $62,039,000 after acquiring an additional 21,804 shares during the period. Aperio Group LLC raised its stake in shares of Stryker by 0.6% in the 2nd quarter. Aperio Group LLC now owns 221,351 shares of the medical technology company’s stock valued at $45,505,000 after acquiring an additional 1,299 shares in the last quarter. Highstreet Asset Management Inc. bought a new position in shares of Stryker in the 2nd quarter valued at approximately $836,000. AGF Investments LLC bought a new position in shares of Stryker in the 2nd quarter valued at approximately $1,366,000. Finally, Alley Co LLC raised its stake in shares of Stryker by 3.7% in the 2nd quarter. Alley Co LLC now owns 17,932 shares of the medical technology company’s stock valued at $3,686,000 after acquiring an additional 643 shares in the last quarter. 73.48% of the stock is currently owned by institutional investors.
A number of brokerages recently weighed in on SYK. Raymond James set a $240.00 price objective on Stryker and gave the company a “buy” rating in a research note on Friday, July 26th. BMO Capital Markets set a $216.00 price objective on Stryker and gave the company a “hold” rating in a research note on Friday, July 26th. Oppenheimer raised their price objective on Stryker from $183.00 to $192.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Royal Bank of Canada set a $220.00 price objective on Stryker and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Canaccord Genuity raised their price objective on Stryker from $195.00 to $233.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Five research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $214.89.
Shares of NYSE SYK opened at $215.30 on Friday. The company has a quick ratio of 1.26, a current ratio of 2.07 and a debt-to-equity ratio of 0.67. The business’s 50 day moving average is $210.48 and its two-hundred day moving average is $194.87. The company has a market cap of $81.97 billion, a P/E ratio of 29.45, a P/E/G ratio of 2.66 and a beta of 0.85. Stryker Co. has a 12 month low of $144.75 and a 12 month high of $222.59.
Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, July 25th. The medical technology company reported $1.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.93 by $0.05. The company had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.60 billion. Stryker had a return on equity of 25.98% and a net margin of 24.99%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.76 EPS. Sell-side analysts expect that Stryker Co. will post 8.2 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Friday, September 27th. Stryker’s dividend payout ratio is currently 28.45%.
In other news, Director Allan C. Golston sold 3,399 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $209.84, for a total transaction of $713,246.16. Following the sale, the director now directly owns 13,762 shares in the company, valued at $2,887,818.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Timothy J. Scannell sold 4,666 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $197.68, for a total value of $922,374.88. Following the sale, the insider now owns 155,347 shares in the company, valued at $30,708,994.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,431 shares of company stock worth $3,174,489. Company insiders own 7.20% of the company’s stock.
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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