Gofen & Glossberg LLC IL decreased its stake in Stryker Corporation (NYSE:SYK) by 12.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,199 shares of the medical technology company’s stock after selling 1,025 shares during the period. Gofen & Glossberg LLC IL’s holdings in Stryker were worth $1,022,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Coldstream Capital Management Inc. lifted its holdings in shares of Stryker by 3.7% in the 2nd quarter. Coldstream Capital Management Inc. now owns 17,445 shares of the medical technology company’s stock worth $2,421,000 after purchasing an additional 626 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in shares of Stryker by 2.5% in the 3rd quarter. Retirement Systems of Alabama now owns 234,870 shares of the medical technology company’s stock worth $33,356,000 after purchasing an additional 5,656 shares during the last quarter. Lockheed Martin Investment Management Co. bought a new stake in shares of Stryker in the 2nd quarter worth approximately $1,249,000. Toronto Dominion Bank lifted its holdings in shares of Stryker by 25.8% in the 2nd quarter. Toronto Dominion Bank now owns 105,403 shares of the medical technology company’s stock worth $14,625,000 after purchasing an additional 21,585 shares during the last quarter. Finally, Colonial Trust Advisors lifted its holdings in shares of Stryker by 56.1% in the 2nd quarter. Colonial Trust Advisors now owns 23,446 shares of the medical technology company’s stock worth $3,254,000 after purchasing an additional 8,426 shares during the last quarter. 74.97% of the stock is currently owned by institutional investors and hedge funds.
Shares of Stryker Corporation (SYK) traded down $1.97 during mid-day trading on Friday, hitting $151.34. The stock had a trading volume of 1,406,700 shares, compared to its average volume of 1,178,710. Stryker Corporation has a one year low of $116.50 and a one year high of $160.62. The firm has a market cap of $57,374.37, a PE ratio of 24.30, a PEG ratio of 2.41 and a beta of 0.78. The company has a current ratio of 2.37, a quick ratio of 1.61 and a debt-to-equity ratio of 0.63.
Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.02. Stryker had a return on equity of 24.11% and a net margin of 14.67%. The company had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.97 billion. During the same period last year, the firm earned $1.39 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. sell-side analysts predict that Stryker Corporation will post 6.47 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.24%. This is a boost from Stryker’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, December 28th. Stryker’s payout ratio is presently 36.32%.
Several analysts recently commented on the company. SunTrust Banks restated a “buy” rating and issued a $161.00 target price on shares of Stryker in a research report on Monday, October 2nd. Oppenheimer set a $156.00 target price on Stryker and gave the company a “hold” rating in a research report on Monday, October 30th. Canaccord Genuity raised their target price on Stryker from $155.00 to $162.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Zacks Investment Research cut Stryker from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Finally, Cowen set a $160.00 target price on Stryker and gave the company a “buy” rating in a research report on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $153.19.
In related news, insider Lonny J. Carpenter sold 5,000 shares of Stryker stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $155.34, for a total value of $776,700.00. Following the transaction, the insider now directly owns 83,207 shares in the company, valued at approximately $12,925,375.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.40% of the company’s stock.
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Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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