Alta Capital Management LLC Purchases Shares of 1,335 Stryker Corporation (SYK)
Alta Capital Management LLC purchased a new stake in shares of Stryker Corporation (NYSE:SYK) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,335 shares of the medical technology company’s stock, valued at approximately $206,000.
A number of other large investors have also recently bought and sold shares of SYK. Beach Investment Management LLC. bought a new stake in Stryker during the 2nd quarter valued at $1,924,000. First National Trust Co. raised its holdings in Stryker by 6.2% during the 2nd quarter. First National Trust Co. now owns 9,625 shares of the medical technology company’s stock valued at $1,336,000 after buying an additional 561 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Stryker by 12.8% during the 2nd quarter. Victory Capital Management Inc. now owns 19,892 shares of the medical technology company’s stock valued at $2,761,000 after buying an additional 2,253 shares during the last quarter. Aviva PLC raised its holdings in Stryker by 2.6% during the 2nd quarter. Aviva PLC now owns 209,048 shares of the medical technology company’s stock valued at $29,014,000 after buying an additional 5,330 shares during the last quarter. Finally, Blue Chip Partners Inc. raised its holdings in Stryker by 0.3% during the 2nd quarter. Blue Chip Partners Inc. now owns 1,781 shares of the medical technology company’s stock valued at $247,000 after buying an additional 6 shares during the last quarter. Institutional investors own 74.88% of the company’s stock.
A number of equities research analysts recently commented on SYK shares. SunTrust Banks reiterated a “buy” rating and set a $161.00 price target on shares of Stryker in a report on Monday, October 2nd. Royal Bank of Canada reissued a “buy” rating and set a $155.00 price objective on shares of Stryker in a research report on Monday, October 2nd. Cowen set a $160.00 price objective on shares of Stryker and gave the company a “buy” rating in a research report on Friday, October 6th. Zacks Investment Research downgraded shares of Stryker from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Finally, Robert W. Baird reissued a “hold” rating and set a $161.00 price objective on shares of Stryker in a research report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the stock. Stryker currently has a consensus rating of “Hold” and an average price target of $156.60.
In other news, insider Lonny J. Carpenter sold 5,000 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $155.34, for a total value of $776,700.00. Following the sale, the insider now directly owns 83,207 shares of the company’s stock, valued at approximately $12,925,375.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 7.40% of the stock is owned by corporate insiders.
Stryker Corporation (SYK) traded up $0.80 during trading hours on Thursday, hitting $160.27. 1,299,700 shares of the stock were exchanged, compared to its average volume of 1,230,427. The stock has a market cap of $59,980.00, a P/E ratio of 34.17, a PEG ratio of 2.28 and a beta of 0.78. The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.63. Stryker Corporation has a 12-month low of $119.17 and a 12-month high of $164.20.
Stryker (NYSE:SYK) last released its earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.50 by $0.02. The firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.97 billion. Stryker had a net margin of 14.67% and a return on equity of 24.11%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.39 EPS. analysts expect that Stryker Corporation will post 6.49 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be given a $0.47 dividend. The ex-dividend date is Thursday, December 28th. This is an increase from Stryker’s previous quarterly dividend of $0.43. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.17%. Stryker’s dividend payout ratio is currently 40.09%.
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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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