Sigma Investment Counselors Inc. trimmed its position in Stryker Co. (NYSE:SYK) by 1.4% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 47,477 shares of the medical technology company’s stock after selling 650 shares during the period. Stryker comprises approximately 1.1% of Sigma Investment Counselors Inc.’s holdings, making the stock its 15th largest holding. Sigma Investment Counselors Inc.’s holdings in Stryker were worth $9,378,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in SYK. Securian Asset Management Inc raised its stake in shares of Stryker by 0.6% in the 1st quarter. Securian Asset Management Inc now owns 32,154 shares of the medical technology company’s stock valued at $6,351,000 after purchasing an additional 196 shares during the period. Farmers & Merchants Investments Inc. increased its position in shares of Stryker by 2.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 51,294 shares of the medical technology company’s stock valued at $10,132,000 after acquiring an additional 1,012 shares during the last quarter. FTB Advisors Inc. increased its position in shares of Stryker by 17.9% in the first quarter. FTB Advisors Inc. now owns 3,725 shares of the medical technology company’s stock valued at $735,000 after acquiring an additional 565 shares during the last quarter. CENTRAL TRUST Co grew its holdings in Stryker by 8.5% during the first quarter. CENTRAL TRUST Co now owns 23,046 shares of the medical technology company’s stock worth $4,552,000 after purchasing an additional 1,803 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in Stryker by 3.3% during the first quarter. Daiwa Securities Group Inc. now owns 13,713 shares of the medical technology company’s stock worth $2,709,000 after purchasing an additional 443 shares during the period. Hedge funds and other institutional investors own 74.71% of the company’s stock.
NYSE SYK traded up $0.50 on Wednesday, reaching $185.95. The company had a trading volume of 840,229 shares, compared to its average volume of 1,357,773. The company has a market capitalization of $68.70 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 2.24 and a beta of 0.84. Stryker Co. has a fifty-two week low of $144.75 and a fifty-two week high of $199.85. The company has a quick ratio of 1.30, a current ratio of 2.12 and a debt-to-equity ratio of 0.68.
Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, April 23rd. The medical technology company reported $1.88 EPS for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.04. The business had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.51 billion. Stryker had a net margin of 25.38% and a return on equity of 26.72%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.68 earnings per share. Research analysts expect that Stryker Co. will post 8.15 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.12%. Stryker’s dividend payout ratio (DPR) is presently 28.45%.
In related news, VP Yin C. Becker sold 15,240 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $198.03, for a total value of $3,017,977.20. Following the sale, the vice president now owns 16,577 shares in the company, valued at approximately $3,282,743.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Katherine Ann Owen sold 29,247 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $185.62, for a total transaction of $5,428,828.14. Following the completion of the sale, the vice president now owns 11,131 shares in the company, valued at approximately $2,066,136.22. The disclosure for this sale can be found here. Insiders have sold a total of 111,550 shares of company stock worth $21,376,317 in the last three months. Insiders own 7.20% of the company’s stock.
A number of equities analysts recently commented on SYK shares. Canaccord Genuity lifted their price target on Stryker from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, January 30th. Credit Suisse Group upgraded Stryker to an “outperform” rating in a report on Thursday, January 31st. SunTrust Banks boosted their price objective on Stryker to $205.00 and gave the stock a “positive” rating in a report on Monday, February 4th. Zacks Investment Research upgraded Stryker from a “hold” rating to a “buy” rating and set a $199.00 price objective for the company in a report on Monday, February 4th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $205.00 price objective on shares of Stryker in a report on Friday, March 1st. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $196.85.
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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.
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