Klingenstein Fields & Co. LLC raised its position in Stryker Co. (NYSE:SYK) by 108.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,854 shares of the medical technology company’s stock after acquiring an additional 34,720 shares during the period. Klingenstein Fields & Co. LLC’s holdings in Stryker were worth $13,205,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Campbell Capital Management Inc. bought a new position in shares of Stryker in the 4th quarter worth $204,000. British Airways Pensions Investment Management Ltd raised its stake in Stryker by 16.0% during the 4th quarter. British Airways Pensions Investment Management Ltd now owns 122,484 shares of the medical technology company’s stock worth $19,214,000 after buying an additional 16,925 shares during the period. Landsberg Bennett & Dubbaneh LLC acquired a new stake in Stryker during the 4th quarter worth $1,926,000. Addenda Capital Inc. raised its stake in Stryker by 14.9% during the 1st quarter. Addenda Capital Inc. now owns 23,593 shares of the medical technology company’s stock worth $4,671,000 after buying an additional 3,060 shares during the period. Finally, Oakworth Capital Inc. raised its stake in Stryker by 4.8% during the 4th quarter. Oakworth Capital Inc. now owns 6,840 shares of the medical technology company’s stock worth $1,073,000 after buying an additional 314 shares during the period. 74.04% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE SYK traded up $0.27 during midday trading on Friday, reaching $184.77. The company’s stock had a trading volume of 625,063 shares, compared to its average volume of 1,345,688. The company has a current ratio of 2.12, a quick ratio of 1.30 and a debt-to-equity ratio of 0.68. Stryker Co. has a fifty-two week low of $144.75 and a fifty-two week high of $199.85. The company has a market cap of $68.84 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 2.26 and a beta of 0.84.
Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, April 23rd. The medical technology company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.04. Stryker had a net margin of 25.38% and a return on equity of 26.72%. The company had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same period in the previous year, the business earned $1.68 earnings per share. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities research analysts forecast that Stryker Co. will post 8.15 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, June 27th. This represents a $2.08 annualized dividend and a yield of 1.13%. Stryker’s dividend payout ratio is currently 28.45%.
In other Stryker news, CFO Glenn S. Boehnlein sold 2,700 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $188.21, for a total transaction of $508,167.00. Following the completion of the transaction, the chief financial officer now directly owns 23,333 shares in the company, valued at $4,391,503.93. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Katherine Ann Owen sold 29,247 shares of the company’s stock in a transaction on 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 transaction, the vice president now owns 11,131 shares of the company’s stock, valued at $2,066,136.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 111,550 shares of company stock valued at $21,376,317. Company insiders own 7.20% of the company’s stock.
Several analysts have issued reports on the company. Zacks Investment Research downgraded Stryker from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Canaccord Genuity lifted their price target on Stryker from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Deutsche Bank raised their price objective on Stryker from $181.00 to $208.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Oppenheimer raised their price objective on Stryker from $183.00 to $192.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Finally, Wells Fargo & Co raised their price objective on Stryker from $214.00 to $219.00 and gave the company an “outperform” rating in a report on Monday, April 1st. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $196.85.
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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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