Cornerstone Investment Partners LLC lifted its holdings in Stryker Corporation (NYSE:SYK) by 100.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 14,998 shares of the medical technology company’s stock after purchasing an additional 7,499 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in Stryker were worth $2,322,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Coldstream Capital Management Inc. grew its position 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 valued at $2,421,000 after purchasing an additional 626 shares during the period. Retirement Systems of Alabama grew its position 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 valued at $33,356,000 after purchasing an additional 5,656 shares during the period. Toronto Dominion Bank grew its position 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 valued at $14,625,000 after purchasing an additional 21,585 shares during the period. Colonial Trust Advisors boosted its position in Stryker by 56.1% during the 2nd quarter. Colonial Trust Advisors now owns 23,446 shares of the medical technology company’s stock worth $3,254,000 after acquiring an additional 8,426 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. boosted its position in Stryker by 3.1% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 55,255 shares of the medical technology company’s stock worth $7,847,000 after acquiring an additional 1,683 shares during the last quarter. Institutional investors and hedge funds own 74.91% of the company’s stock.
In other news, insider Lonny J. Carpenter sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $155.34, for a total transaction of $776,700.00. Following the sale, the insider now owns 83,207 shares in the company, valued at approximately $12,925,375.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 7.40% of the company’s stock.
Shares of Stryker Corporation (NYSE SYK) traded up $1.00 during trading on Monday, hitting $161.28. The stock had a trading volume of 1,196,700 shares, compared to its average volume of 1,238,123. Stryker Corporation has a one year low of $119.17 and a one year high of $164.20. The company has a market cap of $60,357.04, a PE ratio of 34.46, a P/E/G ratio of 2.31 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 announced its quarterly earnings data on Thursday, October 26th. The medical technology company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the business posted $1.39 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. analysts forecast that Stryker Corporation will post 6.49 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.17%. This is a boost from Stryker’s previous quarterly dividend of $0.43. Stryker’s dividend payout ratio is currently 40.17%.
A number of equities analysts have weighed in on SYK shares. Robert W. Baird raised Stryker from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $161.00 to $173.00 in a research report on Thursday, November 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Stryker in a research report on Friday, November 3rd. JPMorgan Chase & Co. raised Stryker from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 2nd. Piper Jaffray Companies reaffirmed a “buy” rating and set a $156.00 price target on shares of Stryker in a research report on Friday, October 27th. Finally, ValuEngine raised Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the stock. Stryker presently has an average rating of “Hold” and an average target price of $156.60.
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Stryker Company Profile
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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