Stewart & Patten Co. LLC trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 2.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 96,927 shares of the medical technology company’s stock after selling 2,040 shares during the quarter. Stryker accounts for 3.7% of Stewart & Patten Co. LLC’s portfolio, making the stock its 11th biggest position. Stewart & Patten Co. LLC’s holdings in Stryker were worth $20,965,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of SYK. Massey Quick Simon & CO. LLC acquired a new position in Stryker during the second quarter valued at approximately $27,000. Ossiam acquired a new position in Stryker during the second quarter valued at approximately $33,000. Stonebridge Capital Advisors LLC acquired a new position in Stryker during the second quarter valued at approximately $39,000. Webster Bank N. A. grew its holdings in 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 during the period. Finally, Westside Investment Management Inc. acquired a new position in Stryker during the second quarter valued at approximately $47,000. 73.04% of the stock is owned by institutional investors and hedge funds.
In related news, COO Timothy J. Scannell sold 4,666 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $214.50, for a total transaction of $1,000,857.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Srikant M. Datar sold 350 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $215.00, for a total transaction of $75,250.00. Following the transaction, the director now owns 6,844 shares of the company’s stock, valued at approximately $1,471,460. The disclosure for this sale can be found here. Insiders sold 51,637 shares of company stock valued at $11,280,427 in the last quarter. Corporate insiders own 7.20% of the company’s stock.
A number of brokerages recently issued reports on SYK. BTIG Research set a $228.00 price objective on shares of Stryker and gave the company a “buy” rating in a report on Thursday, September 5th. Cantor Fitzgerald boosted their price objective on shares of Stryker from $190.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Piper Jaffray Companies restated a “buy” rating on shares of Stryker in a report on Wednesday, September 4th. Robert W. Baird boosted their price objective on shares of Stryker from $206.00 to $239.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Wells Fargo & Co boosted their price objective on shares of Stryker from $219.00 to $228.00 and gave the company an “outperform” rating in a report on Tuesday, July 2nd. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $214.89.
Shares of Stryker stock traded up $0.68 on Thursday, hitting $216.43. The company had a trading volume of 23,497 shares, compared to its average volume of 1,148,239. The firm has a market capitalization of $79.56 billion, a P/E ratio of 29.60, a P/E/G ratio of 2.58 and a beta of 0.81. Stryker Co. has a twelve month low of $144.75 and a twelve month high of $223.45. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.07 and a quick ratio of 1.26. The stock has a 50-day moving average of $216.82 and a 200-day moving average of $203.46.
Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, July 25th. The medical technology company reported $1.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $0.05. The company had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.60 billion. Stryker had a net margin of 24.99% and a return on equity of 25.98%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.76 earnings per share. Equities analysts predict that Stryker Co. will post 8.21 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Friday, September 27th. Stryker’s dividend payout ratio (DPR) is presently 28.45%.
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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