Jarislowsky Fraser Ltd Raises Position in Stryker Corporation (SYK)
Jarislowsky Fraser Ltd lifted its stake in Stryker Corporation (NYSE:SYK) by 84.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,634 shares of the medical technology company’s stock after purchasing an additional 3,961 shares during the period. Jarislowsky Fraser Ltd’s holdings in Stryker Corporation were worth $1,226,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of SYK. BlackRock Inc. grew its holdings 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 worth $2,893,242,000 after acquiring an additional 21,140,000 shares during the period. Koch Industries Inc. grew its holdings in shares of Stryker Corporation by 34,120.3% in the 2nd quarter. Koch Industries Inc. now owns 1,260,675 shares of the medical technology company’s stock valued at $1,252,000 after buying an additional 1,256,991 shares during the period. Vanguard Group Inc. grew its holdings in shares of Stryker Corporation by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 23,421,053 shares of the medical technology company’s stock valued at $3,083,382,000 after buying an additional 1,161,688 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Stryker Corporation by 2,237.8% in the 2nd quarter. Janus Henderson Group PLC now owns 1,019,254 shares of the medical technology company’s stock valued at $141,452,000 after buying an additional 975,656 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Stryker Corporation by 41.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,403,420 shares of the medical technology company’s stock valued at $184,759,000 after buying an additional 414,715 shares during the period. 74.15% of the stock is owned by institutional investors and hedge funds.
In other news, insider Lonny J. Carpenter sold 5,000 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $155.34, for a total transaction of $776,700.00. Following the completion of the sale, the insider now directly owns 83,207 shares in the company, valued at $12,925,375.38. The transaction was disclosed in a filing with the SEC, which is available at this link. 7.40% of the stock is currently owned by company insiders.
COPYRIGHT VIOLATION WARNING: “Jarislowsky Fraser Ltd Raises Position in Stryker Corporation (SYK)” was published by Watch List News and is owned by of Watch List News. If you are accessing this piece on another domain, it was stolen and republished in violation of US & international copyright & trademark laws. The original version of this piece can be read at https://www.watchlistnews.com/jarislowsky-fraser-ltd-raises-position-in-stryker-corporation-syk/1704879.html.
Stryker Corporation (NYSE SYK) traded up $0.20 during mid-day trading on Wednesday, hitting $155.95. 1,011,700 shares of the stock traded hands, compared to its average volume of 1,181,533. The company has a market capitalization of $58,287.51, a P/E ratio of 24.68, a P/E/G ratio of 2.45 and a beta of 0.79. Stryker Corporation has a 12-month low of $107.13 and a 12-month high of $160.62. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.37 and a quick ratio of 1.61.
Stryker Corporation (NYSE:SYK) last released its quarterly earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.02. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.97 billion. Stryker Corporation had a net margin of 14.67% and a return on equity of 24.11%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.39 earnings per share. sell-side analysts expect that Stryker Corporation will post 6.47 earnings per share for the current year.
Several equities analysts have recently issued reports on the stock. Cowen and Company set a $166.00 price target on shares of Stryker Corporation and gave the company a “buy” rating in a report on Sunday, October 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of Stryker Corporation in a research report on Friday, November 3rd. Oppenheimer Holdings, Inc. set a $156.00 price objective on shares of Stryker Corporation and gave the company a “hold” rating in a research report on Monday, October 30th. ValuEngine raised shares of Stryker Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Zacks Investment Research raised shares of Stryker Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company. Stryker Corporation currently has an average rating of “Hold” and a consensus price target of $151.52.
Stryker Corporation 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.
Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Corporation (NYSE:SYK).
Receive News & Ratings for Stryker Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stryker Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.