Ameriprise Financial Inc. Has $95.63 Million Position in Stryker Corporation (SYK)
Ameriprise Financial Inc. lowered its position in shares of Stryker Corporation (NYSE:SYK) by 14.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 673,117 shares of the medical technology company’s stock after selling 114,808 shares during the period. Ameriprise Financial Inc. owned 0.18% of Stryker worth $95,626,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of SYK. Acrospire Investment Management LLC acquired a new position in Stryker in the second quarter valued at $111,000. Bollard Group LLC boosted its stake in Stryker by 0.4% in the second quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock valued at $115,000 after acquiring an additional 3 shares in the last quarter. Motco boosted its stake in Stryker by 50.7% in the second quarter. Motco now owns 826 shares of the medical technology company’s stock valued at $115,000 after acquiring an additional 278 shares in the last quarter. Bruderman Asset Management LLC acquired a new position in Stryker in the second quarter valued at $150,000. Finally, James Investment Research Inc. acquired a new position in Stryker in the second quarter valued at $155,000. Hedge funds and other institutional investors own 74.20% of the company’s stock.
In other Stryker news, insider Lonny J. Carpenter sold 5,000 shares of the 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 completion of the transaction, the insider now directly owns 83,207 shares of the company’s stock, valued at $12,925,375.38. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 7.40% of the company’s stock.
Stryker Corporation (NYSE:SYK) traded down $0.12 during midday trading on Monday, reaching $154.67. 581,100 shares of the company traded hands, compared to its average volume of 1,172,687. The stock has a market capitalization of $57,883.39, a PE ratio of 24.51, a P/E/G ratio of 2.44 and a beta of 0.79. Stryker Corporation has a 52-week low of $110.91 and a 52-week high of $160.62. 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 (NYSE:SYK) last posted its quarterly earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.02. The firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.97 billion. Stryker had a net margin of 14.67% and a return on equity of 24.11%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.39 earnings per share. equities research analysts predict that Stryker Corporation will post 6.47 earnings per share for the current year.
SYK has been the subject of several research analyst reports. Wells Fargo & Company upped their price objective on shares of Stryker from $160.00 to $166.00 in a research note on Friday, October 27th. Royal Bank Of Canada reiterated a “buy” rating and set a $155.00 target price on shares of Stryker in a research note on Friday, September 1st. Argus reiterated a “buy” rating and set a $160.00 target price on shares of Stryker in a research note on Tuesday, August 29th. Canaccord Genuity reiterated a “buy” rating and set a $155.00 target price (down previously from $158.00) on shares of Stryker in a research note on Thursday, August 24th. Finally, Cowen Inc reiterated a “buy” rating and set a $160.00 target price (up previously from $150.00) on shares of Stryker in a research note on Sunday, July 30th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $152.10.
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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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