Private Trust Co. NA cut its stake in shares of Stryker Co. (NYSE:SYK) by 6.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,278 shares of the medical technology company’s stock after selling 1,290 shares during the quarter. Private Trust Co. NA’s holdings in Stryker were worth $3,085,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Truewealth LLC bought a new stake in shares of Stryker during the 4th quarter valued at approximately $110,000. Virtue Capital Management LLC bought a new stake in Stryker during the 4th quarter worth approximately $133,000. Bruderman Asset Management LLC bought a new stake in Stryker during the 1st quarter worth approximately $152,000. Ostrum Asset Management bought a new stake in Stryker during the 1st quarter worth approximately $160,000. Finally, Private Capital Group LLC grew its holdings in Stryker by 1,218.4% during the 1st quarter. Private Capital Group LLC now owns 1,002 shares of the medical technology company’s stock worth $162,000 after acquiring an additional 926 shares during the last quarter. 74.93% of the stock is currently owned by institutional investors.
NYSE:SYK opened at $170.25 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.08 and a current ratio of 1.64. Stryker Co. has a 52 week low of $137.70 and a 52 week high of $179.84. The firm has a market capitalization of $63.10 billion, a PE ratio of 26.23, a PEG ratio of 2.40 and a beta of 0.70.
Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, April 26th. The medical technology company reported $1.68 EPS for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.08. Stryker had a net margin of 8.00% and a return on equity of 25.65%. The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same period in the prior year, the firm posted $1.48 EPS. The company’s quarterly revenue was up 9.7% on a year-over-year basis. equities research analysts forecast that Stryker Co. will post 7.23 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 31st. Investors of record on Friday, June 29th will be given a dividend of $0.47 per share. The ex-dividend date is Thursday, June 28th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.10%. Stryker’s payout ratio is presently 28.97%.
In related news, insider Lonny J. Carpenter sold 5,000 shares of the business’s stock in a transaction on Friday, May 4th. The shares were sold at an average price of $166.42, for a total transaction of $832,100.00. Following the transaction, the insider now owns 101,675 shares in the company, valued at approximately $16,920,753.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Katherine Ann Owen sold 2,651 shares of the business’s stock in a transaction on Wednesday, April 18th. The shares were sold at an average price of $165.00, for a total transaction of $437,415.00. Following the transaction, the vice president now owns 7,729 shares in the company, valued at approximately $1,275,285. The disclosure for this sale can be found here. Insiders have sold a total of 8,401 shares of company stock worth $1,389,515 in the last quarter. 7.30% of the stock is owned by corporate insiders.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research raised shares of Stryker from a “hold” rating to a “buy” rating and set a $196.00 target price on the stock in a report on Friday, June 1st. ValuEngine raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, June 26th. Sanford C. Bernstein assumed coverage on shares of Stryker in a report on Wednesday, June 27th. They set a “market perform” rating and a $177.00 target price on the stock. Citigroup boosted their target price on shares of Stryker from $166.00 to $171.00 and gave the stock a “neutral” rating in a report on Tuesday, May 1st. Finally, Stifel Nicolaus boosted their target price on shares of Stryker from $183.00 to $187.00 and gave the stock a “buy” rating in a report on Friday, April 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $173.95.
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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