FUKOKU MUTUAL LIFE INSURANCE Co decreased its position in Stryker Co. (NYSE:SYK) by 9.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 29,700 shares of the medical technology company’s stock after selling 3,000 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Stryker were worth $5,866,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. ERTS Wealth Advisors LLC bought a new position in shares of Stryker in the fourth quarter worth approximately $25,000. Northwest Wealth Management LLC grew its holdings in shares of Stryker by 103.6% in the fourth quarter. Northwest Wealth Management LLC now owns 169 shares of the medical technology company’s stock worth $26,000 after purchasing an additional 86 shares during the last quarter. Semmax Financial Advisors Inc. bought a new stake in Stryker in the fourth quarter valued at $28,000. Horan Securities Inc. bought a new stake in Stryker in the fourth quarter valued at $30,000. Finally, Truehand Inc bought a new stake in Stryker in the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 73.61% of the company’s stock.
In other news, insider Timothy J. Scannell sold 4,666 shares of Stryker stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $186.71, for a total value of $871,188.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Bijoy Sagar sold 2,000 shares of Stryker stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $190.43, for a total value of $380,860.00. Following the completion of the transaction, the vice president now directly owns 3,350 shares of the company’s stock, valued at approximately $637,940.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,550 shares of company stock valued at $21,376,317. 7.20% of the stock is owned by insiders.
Stryker stock traded down $0.60 on Wednesday, hitting $181.38. 1,017,946 shares of the stock traded hands, compared to its average volume of 1,353,091. The company has a current ratio of 2.12, a quick ratio of 1.30 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $68.94 billion, a P/E ratio of 24.81, a P/E/G ratio of 2.25 and a beta of 0.84. Stryker Co. has a 1 year low of $144.75 and a 1 year high of $199.85.
Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, April 23rd. The medical technology company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.04. The firm had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.51 billion. Stryker had a return on equity of 26.72% and a net margin of 25.38%. Stryker’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.68 EPS. Analysts predict that Stryker Co. will post 8.15 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Thursday, June 27th. Stryker’s dividend payout ratio is presently 28.45%.
Several analysts recently weighed in on SYK shares. Credit Suisse Group upgraded shares of Stryker to an “outperform” rating in a report on Thursday, January 31st. JPMorgan Chase & Co. lifted their price target on shares of Stryker from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. ValuEngine cut shares of Stryker from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Canaccord Genuity lifted their price target on shares of Stryker from $190.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Barclays set a $203.00 price objective on Stryker and gave the company a “buy” rating in a research report on Friday, March 8th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $196.85.
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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