Alliancebernstein L.P. Has $89.99 Million Stake in Stryker Corporation (SYK)
Alliancebernstein L.P. lifted its holdings in shares of Stryker Corporation (NYSE:SYK) by 2.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 648,424 shares of the medical technology company’s stock after purchasing an additional 14,812 shares during the period. Alliancebernstein L.P. owned 0.17% of Stryker Corporation worth $89,988,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of SYK. BlackRock Inc. increased its position in Stryker Corporation by 2,526.4% during the 1st quarter. BlackRock Inc. now owns 21,976,771 shares of the medical technology company’s stock valued at $2,893,242,000 after purchasing an additional 21,140,000 shares during the period. Vanguard Group Inc. raised its holdings in Stryker Corporation by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 23,421,053 shares of the medical technology company’s stock worth $3,083,382,000 after purchasing an additional 1,161,688 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Stryker Corporation by 41.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,403,420 shares of the medical technology company’s stock worth $184,759,000 after purchasing an additional 414,715 shares during the last quarter. SG Americas Securities LLC raised its holdings in Stryker Corporation by 600.6% during the 1st quarter. SG Americas Securities LLC now owns 412,340 shares of the medical technology company’s stock worth $54,285,000 after purchasing an additional 353,486 shares during the last quarter. Finally, Morgan Stanley raised its holdings in Stryker Corporation by 17.9% during the 1st quarter. Morgan Stanley now owns 2,144,472 shares of the medical technology company’s stock worth $282,320,000 after purchasing an additional 325,661 shares during the last quarter. Institutional investors own 74.13% of the company’s stock.
In other news, insider David Floyd sold 19,305 shares of Stryker Corporation stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $144.56, for a total transaction of $2,790,730.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Graham A. Mclean sold 1,124 shares of Stryker Corporation stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $146.26, for a total transaction of $164,396.24. Following the transaction, the insider now owns 8,983 shares of the company’s stock, valued at $1,313,853.58. The disclosure for this sale can be found here. Insiders sold a total of 25,429 shares of company stock worth $3,686,927 over the last ninety days. Insiders own 7.40% of the company’s stock.
Stryker Corporation (NYSE:SYK) opened at 143.51 on Tuesday. The company has a 50-day moving average of $142.42 and a 200 day moving average of $139.68. The company has a market cap of $53.68 billion, a PE ratio of 32.03 and a beta of 0.81. Stryker Corporation has a 12 month low of $106.48 and a 12 month high of $148.84.
Stryker Corporation (NYSE:SYK) last announced its quarterly earnings data on Thursday, July 27th. The medical technology company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.51 by $0.02. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter last year, the firm posted $1.39 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities analysts forecast that Stryker Corporation will post $6.46 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Thursday, September 28th. Stryker Corporation’s dividend payout ratio is presently 37.95%.
Several research firms have recently weighed in on SYK. SunTrust Banks, Inc. reiterated a “buy” rating and set a $161.00 price objective on shares of Stryker Corporation in a research report on Monday. BidaskClub raised shares of Stryker Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Cowen and Company restated a “buy” rating and issued a $160.00 target price (up previously from $150.00) on shares of Stryker Corporation in a report on Sunday, July 30th. Zacks Investment Research lowered shares of Stryker Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. Finally, Oppenheimer Holdings, Inc. set a $148.00 price target on shares of Stryker Corporation and gave the company a “hold” rating in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $146.78.
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Stryker Corporation 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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