Landsberg Bennett & Dubbaneh LLC lifted its holdings in Stryker Co. (NYSE:SYK) by 1.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,463 shares of the medical technology company’s stock after buying an additional 291 shares during the quarter. Stryker makes up about 1.1% of Landsberg Bennett & Dubbaneh LLC’s portfolio, making the stock its 20th biggest position. Landsberg Bennett & Dubbaneh LLC’s holdings in Stryker were worth $4,158,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Massey Quick Simon & CO. LLC purchased a new stake in shares of Stryker in the second quarter worth approximately $27,000. Ossiam purchased a new stake in shares of Stryker in the second quarter worth approximately $33,000. Stonebridge Capital Advisors LLC purchased a new stake in shares of Stryker in the second quarter worth approximately $39,000. Webster Bank N. A. raised its holdings in shares of Stryker by 300.0% in the second quarter. Webster Bank N. A. now owns 200 shares of the medical technology company’s stock worth $41,000 after buying an additional 150 shares during the period. Finally, Westside Investment Management Inc. purchased a new stake in shares of Stryker in the second quarter worth approximately $47,000. Hedge funds and other institutional investors own 72.95% of the company’s stock.
In other news, Director Srikant M. Datar sold 350 shares of Stryker stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $215.00, for a total value of $75,250.00. Following the transaction, the director now directly owns 6,844 shares in the company, valued at approximately $1,471,460. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Timothy J. Scannell sold 4,666 shares of Stryker stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $205.88, for a total value of $960,636.08. Following the completion of the transaction, the insider now owns 155,963 shares in the company, valued at $32,109,662.44. The disclosure for this sale can be found here. Insiders sold a total of 51,637 shares of company stock worth $11,240,206 over the last quarter. Company insiders own 7.20% of the company’s stock.
Several equities research analysts have recently weighed in on SYK shares. Wells Fargo & Co increased their price target on Stryker from $219.00 to $228.00 and gave the stock an “outperform” rating in a report on Tuesday, July 2nd. Barclays set a $226.00 price objective on Stryker and gave the stock a “buy” rating in a report on Friday, July 26th. Royal Bank of Canada set a $220.00 price objective on Stryker and gave the stock a “buy” rating in a report on Friday, July 26th. Canaccord Genuity raised their price objective on Stryker from $195.00 to $233.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Morgan Stanley raised their price objective on Stryker from $218.00 to $230.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $214.89.
Shares of NYSE:SYK traded up $2.51 on Friday, reaching $213.80. The company had a trading volume of 43,682 shares, compared to its average volume of 1,121,147. Stryker Co. has a 52-week low of $144.75 and a 52-week high of $223.45. The firm’s 50 day simple moving average is $217.04 and its 200-day simple moving average is $202.89. The firm has a market capitalization of $77.77 billion, a PE ratio of 29.27, a PEG ratio of 2.52 and a beta of 0.81. The company has a current ratio of 2.07, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67.
Stryker (NYSE:SYK) last announced its quarterly 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. Stryker had a return on equity of 25.98% and a net margin of 24.99%. The business had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.60 billion. During the same period last year, the business posted $1.76 EPS. The business’s revenue was up 9.9% compared to the same quarter last year. As a group, equities research analysts predict that Stryker Co. will post 8.21 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.97%. Stryker’s dividend payout ratio is presently 28.45%.
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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