Callahan Advisors LLC Sells 1,219 Shares of Stryker Corporation (SYK)
Callahan Advisors LLC trimmed its position in Stryker Corporation (NYSE:SYK) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,278 shares of the medical technology company’s stock after selling 1,219 shares during the period. Stryker Corporation comprises about 1.9% of Callahan Advisors LLC’s investment portfolio, making the stock its 21st largest position. Callahan Advisors LLC’s holdings in Stryker Corporation were worth $8,845,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC purchased a new position in Stryker Corporation in the 2nd quarter valued at about $111,000. Motco lifted its holdings in Stryker Corporation by 50.7% in the 2nd quarter. Motco now owns 826 shares of the medical technology company’s stock valued at $115,000 after purchasing an additional 278 shares in the last quarter. Bollard Group LLC lifted its holdings in shares of Stryker Corporation by 0.4% during the 2nd quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock worth $115,000 after acquiring an additional 3 shares during the period. Bruderman Asset Management LLC purchased a new position in shares of Stryker Corporation during the 2nd quarter worth about $150,000. Finally, James Investment Research Inc. purchased a new position in shares of Stryker Corporation during the 2nd quarter worth about $155,000. Institutional investors own 74.00% of the company’s stock.
In other Stryker Corporation news, insider Graham A. Mclean sold 1,124 shares of Stryker Corporation stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $146.26, for a total value of $164,396.24. Following the transaction, the insider now directly owns 8,983 shares of the company’s stock, valued at approximately $1,313,853.58. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 7.40% of the company’s stock.
Stryker Corporation (NYSE:SYK) last posted its earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.02. Stryker Corporation had a return on equity of 24.11% and a net margin of 14.67%. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.97 billion. During the same period in the previous year, the company earned $1.39 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis.
Several brokerages have recently weighed in on SYK. Cowen and Company set a $166.00 price objective on shares of Stryker Corporation and gave the stock a “buy” rating in a report on Sunday, October 29th. Oppenheimer Holdings, Inc. set a $156.00 price objective on shares of Stryker Corporation and gave the stock a “hold” rating in a report on Monday. Zacks Investment Research upgraded shares of Stryker Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Robert W. Baird reiterated a “hold” rating and set a $161.00 price objective on shares of Stryker Corporation in a report on Friday, October 27th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $156.00 price objective on shares of Stryker Corporation in a report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $151.52.
About Stryker Corporation
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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