Bridges Investment Management Inc. decreased its position in Stryker Co. (NYSE:SYK) by 2.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,726 shares of the medical technology company’s stock after selling 65 shares during the period. Bridges Investment Management Inc.’s holdings in Stryker were worth $538,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Stryker by 4.1% in the fourth quarter. BlackRock Inc. now owns 24,882,912 shares of the medical technology company’s stock worth $3,900,399,000 after purchasing an additional 975,678 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Stryker by 8,029.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,075,473 shares of the medical technology company’s stock worth $39,000 after purchasing an additional 6,000,739 shares during the last quarter. FMR LLC grew its holdings in shares of Stryker by 6.3% in the fourth quarter. FMR LLC now owns 5,934,622 shares of the medical technology company’s stock worth $930,251,000 after purchasing an additional 353,028 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Stryker by 3.6% in the fourth quarter. Northern Trust Corp now owns 3,857,399 shares of the medical technology company’s stock worth $604,647,000 after purchasing an additional 132,857 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Stryker by 6.5% in the fourth quarter. Geode Capital Management LLC now owns 3,665,205 shares of the medical technology company’s stock worth $573,387,000 after purchasing an additional 224,785 shares during the last quarter. Hedge funds and other institutional investors own 73.61% of the company’s stock.
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 announced its quarterly earnings data on Tuesday, April 23rd. The medical technology company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.84 by $0.04. The business 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%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.68 earnings per share. Analysts predict 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. This represents a $2.08 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, June 27th. Stryker’s dividend payout ratio is currently 28.45%.
Several analysts recently weighed in on the stock. 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 target on shares of Stryker and gave the company a “buy” rating in a report on Friday, March 8th. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Stryker has a consensus rating of “Buy” and an average target price of $196.85.
In other news, VP Katherine Ann Owen sold 29,247 shares of Stryker stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $185.62, for a total value of $5,428,828.14. Following the completion of the transaction, the vice president now owns 11,131 shares of the company’s stock, valued at approximately $2,066,136.22. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Glenn S. Boehnlein sold 2,700 shares of Stryker stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $188.21, for a total value of $508,167.00. Following the completion of the transaction, the chief financial officer now directly owns 23,333 shares of the company’s stock, valued at approximately $4,391,503.93. The disclosure for this sale can be found here. Insiders have sold 111,550 shares of company stock valued at $21,376,317 in the last three months. Insiders own 7.20% of the company’s stock.
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.
Further Reading: Liquidity
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