Pwmco LLC reduced its stake in shares of Stryker Co. (NYSE:SYK) by 24.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,068 shares of the medical technology company’s stock after selling 6,515 shares during the quarter. Stryker comprises about 1.0% of Pwmco LLC’s investment portfolio, making the stock its 23rd largest holding. Pwmco LLC’s holdings in Stryker were worth $4,126,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently modified their holdings of SYK. Farmers National Bank bought a new stake in shares of Stryker during the first quarter valued at about $25,000. Cable Hill Partners LLC bought a new stake in shares of Stryker during the first quarter valued at about $30,000. RPG Investment Advisory LLC raised its stake in shares of Stryker by 160.0% during the first quarter. RPG Investment Advisory LLC now owns 156 shares of the medical technology company’s stock valued at $31,000 after purchasing an additional 96 shares in the last quarter. Horan Capital Advisors LLC. bought a new stake in shares of Stryker during the first quarter valued at about $40,000. Finally, Webster Bank N. A. raised its stake in shares of Stryker by 300.0% during the second quarter. Webster Bank N. A. now owns 200 shares of the medical technology company’s stock valued at $41,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds own 73.59% of the company’s stock.
SYK traded up $3.30 during trading on Friday, reaching $215.96. The company had a trading volume of 725,936 shares, compared to its average volume of 891,666. The company has a 50-day moving average of $203.69. The firm has a market capitalization of $79.68 billion, a P/E ratio of 29.54, a price-to-earnings-growth ratio of 2.58 and a beta of 0.87. Stryker Co. has a 12-month low of $144.75 and a 12-month high of $214.69. 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 (NYSE:SYK) last issued its quarterly earnings results on Thursday, July 25th. The medical technology company reported $1.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.93 by $0.05. The firm had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.60 billion. Stryker had a return on equity of 26.72% and a net margin of 25.38%. Stryker’s revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the business posted $1.76 EPS. Analysts anticipate that Stryker Co. will post 8.15 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a $0.52 dividend. The ex-dividend date is Thursday, June 27th. This represents a $2.08 dividend on an annualized basis and a yield of 0.96%. Stryker’s dividend payout ratio is currently 28.45%.
In other Stryker 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 transaction of $871,188.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Bijoy Sagar sold 2,000 shares of Stryker stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $190.43, for a total value of $380,860.00. Following the transaction, the vice president now directly owns 3,350 shares in the company, valued at approximately $637,940.50. The disclosure for this sale can be found here. Insiders sold a total of 18,698 shares of company stock worth $3,643,227 in the last three months. 7.20% of the stock is currently owned by company insiders.
A number of brokerages recently weighed in on SYK. Barclays lifted their price objective on shares of Zimmer Biomet from $113.00 to $117.00 and gave the company an “underweight” rating in a research note on Monday, April 15th. Oppenheimer assumed coverage on Kala Pharmaceuticals in a report on Wednesday, April 24th. They set an “outperform” rating and a $11.00 target price on the stock. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $145.00 target price (up from $140.00) on shares of Proofpoint in a report on Friday. Wells Fargo & Co reaffirmed a “hold” rating on shares of Perrigo in a report on Tuesday, July 2nd. Finally, Zacks Investment Research raised HB Fuller from a “sell” rating to a “hold” rating in a report on Tuesday, June 11th. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $208.41.
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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