Fort L.P. decreased its holdings in Stryker Co. (NYSE:SYK) by 15.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,156 shares of the medical technology company’s stock after selling 2,059 shares during the period. Fort L.P.’s holdings in Stryker were worth $1,857,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. ERTS Wealth Advisors LLC bought a new position in Stryker in the fourth quarter worth approximately $25,000. Sofos Investments Inc. raised its stake in Stryker by 160.0% in the first quarter. Sofos Investments Inc. now owns 728 shares of the medical technology company’s stock worth $26,000 after buying an additional 448 shares in the last quarter. WASHINGTON TRUST Co bought a new position in Stryker in the first quarter worth approximately $28,000. Princeton Global Asset Management LLC purchased a new position in Stryker in the fourth quarter worth $29,000. Finally, Filbrandt Wealth Management LLC purchased a new position in Stryker in the first quarter worth $30,000. 71.27% of the stock is owned by institutional investors.
In related news, Director Allan C. Golston sold 7,299 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $193.23, for a total transaction of $1,410,385.77. Following the completion of the sale, the director now owns 13,972 shares of the company’s stock, valued at approximately $2,699,809.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Srikant M. Datar sold 200 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $186.01, for a total transaction of $37,202.00. Following the completion of the sale, the director now directly owns 17,686 shares of the company’s stock, valued at approximately $3,289,772.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,319 shares of company stock valued at $3,857,831. Insiders own 6.80% of the company’s stock.
Shares of Stryker stock traded down $17.03 during trading hours on Thursday, reaching $184.12. The stock had a trading volume of 110,687 shares, compared to its average volume of 2,077,729. The stock’s 50 day moving average is $189.70 and its 200 day moving average is $194.26. The firm has a market capitalization of $75.23 billion, a PE ratio of 32.74, a PEG ratio of 3.62 and a beta of 0.85. Stryker Co. has a twelve month low of $124.54 and a twelve month high of $226.30. The company has a current ratio of 2.58, a quick ratio of 1.77 and a debt-to-equity ratio of 0.72.
Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, April 30th. The medical technology company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.15. The business had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.45 billion. Stryker had a net margin of 14.47% and a return on equity of 24.90%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.88 earnings per share. As a group, sell-side analysts predict that Stryker Co. will post 6.21 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a dividend of $0.575 per share. The ex-dividend date is Monday, June 29th. This represents a $2.30 annualized dividend and a dividend yield of 1.25%. Stryker’s dividend payout ratio (DPR) is presently 27.85%.
SYK has been the topic of several analyst reports. Stifel Nicolaus lifted their price target on shares of Stryker from $145.00 to $205.00 and gave the stock a “buy” rating in a report on Friday, May 1st. UBS Group cut their price target on shares of Stryker from $230.00 to $202.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. Credit Suisse Group boosted their price objective on shares of Stryker from $229.00 to $237.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Morgan Stanley boosted their price objective on shares of Stryker from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Finally, Citigroup boosted their price objective on shares of Stryker from $200.00 to $215.00 and gave the company a “buy” rating in a report on Friday, May 1st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Stryker has a consensus rating of “Buy” and an average price target of $214.23.
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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