Alpha Quant Advisors LLC bought a new stake in Stryker Co. (NYSE:SYK) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,367 shares of the medical technology company’s stock, valued at approximately $270,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ERTS Wealth Advisors LLC bought a new stake in shares of Stryker during the 4th quarter worth approximately $25,000. Farmers National Bank purchased a new stake in Stryker in the 1st quarter valued at $25,000. Northwest Wealth Management LLC grew its holdings in Stryker by 103.6% in the 4th quarter. Northwest Wealth Management LLC now owns 169 shares of the medical technology company’s stock valued at $26,000 after buying an additional 86 shares in the last quarter. Semmax Financial Advisors Inc. purchased a new stake in Stryker in the 4th quarter valued at $28,000. Finally, Truehand Inc purchased a new position in shares of Stryker during the 4th quarter worth $30,000. Institutional investors and hedge funds own 73.61% of the company’s stock.
In other Stryker news, insider Timothy J. Scannell sold 4,666 shares of Stryker stock in a transaction on Monday, March 18th. The shares were sold at an average price of $193.28, for a total transaction of $901,844.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Yin C. Becker sold 15,240 shares of Stryker stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $198.03, for a total transaction of $3,017,977.20. Following the sale, the vice president now directly owns 16,577 shares of the company’s stock, valued at approximately $3,282,743.31. The disclosure for this sale can be found here. Insiders sold 82,303 shares of company stock valued at $15,947,489 in the last quarter. 7.20% of the stock is currently owned by corporate insiders.
A number of brokerages have recently commented on SYK. Royal Bank of Canada lifted their price objective on Stryker from $184.00 to $204.00 and gave the company an “outperform” rating in a research report on Monday, March 11th. Wells Fargo & Co lifted their price objective on shares of Stryker from $214.00 to $219.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $205.00 price objective on shares of Stryker in a research report on Friday, March 1st. Morgan Stanley lifted their price objective on shares of Stryker from $200.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Finally, Barclays set a $203.00 price objective on shares of Stryker and gave the stock a “buy” rating in a research report on Friday, March 8th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $196.75.
Stryker stock traded down $1.31 during mid-day trading on Friday, hitting $195.47. 744,814 shares of the company’s stock were exchanged, compared to its average volume of 1,314,257. The company has a market capitalization of $73.55 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 2.40 and a beta of 0.81. Stryker Co. has a 1-year low of $144.75 and a 1-year high of $199.85. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.12 and a quick ratio of 1.30.
Stryker (NYSE:SYK) last released its earnings results on Tuesday, April 23rd. The medical technology company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.04. The business had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.51 billion. Stryker had a return on equity of 26.72% and a net margin of 25.38%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the business earned $1.68 earnings per share. As a group, sell-side analysts anticipate that Stryker Co. will post 8.15 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, June 27th. Stryker’s dividend payout ratio (DPR) is currently 28.45%.
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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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