Monetary Management Group Inc. Maintains Stake in Stryker Corporation (SYK)
Monetary Management Group Inc. maintained its stake in shares of Stryker Corporation (NYSE:SYK) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,450 shares of the medical technology company’s stock at the end of the second quarter. Monetary Management Group Inc.’s holdings in Stryker Corporation were worth $479,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Acrospire Investment Management LLC purchased a new position in Stryker Corporation in the second quarter valued at approximately $111,000. Bollard Group LLC grew its position in shares of Stryker Corporation by 0.4% during the second 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 last quarter. Motco grew its position in shares of Stryker Corporation by 50.7% during the second quarter. Motco now owns 826 shares of the medical technology company’s stock worth $115,000 after acquiring an additional 278 shares during the last quarter. Bruderman Asset Management LLC purchased a new position in shares of Stryker Corporation during the second quarter worth approximately $150,000. Finally, James Investment Research Inc. purchased a new position in shares of Stryker Corporation during the second quarter worth approximately $155,000. Institutional investors own 74.10% of the company’s stock.
SYK has been the topic of a number of research reports. Cantor Fitzgerald initiated coverage on shares of Stryker Corporation in a research report on Thursday, June 29th. They set a “neutral” rating and a $153.00 target price on the stock. Jefferies Group LLC restated a “hold” rating and set a $132.00 target price on shares of Stryker Corporation in a research report on Friday, June 30th. Morgan Stanley restated an “overweight” rating and set a $160.00 target price (up from $155.00) on shares of Stryker Corporation in a research report on Monday, July 10th. BMO Capital Markets restated a “hold” rating and set a $140.00 target price on shares of Stryker Corporation in a research report on Tuesday, July 11th. Finally, Zacks Investment Research upgraded shares of Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 target price on the stock in a research report on Monday, July 17th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. Stryker Corporation presently has a consensus rating of “Hold” and an average price target of $146.78.
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Shares of Stryker Corporation (NYSE:SYK) opened at 150.49 on Friday. The firm has a 50-day moving average price of $144.25 and a 200-day moving average price of $141.08. Stryker Corporation has a 12-month low of $106.48 and a 12-month high of $150.51. The firm has a market cap of $56.29 billion, a P/E ratio of 33.59 and a beta of 0.80.
Stryker Corporation (NYSE:SYK) last issued its quarterly earnings data on Thursday, July 27th. The medical technology company reported $1.53 EPS for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.02. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.98 billion. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.39 EPS. On average, equities research analysts expect that Stryker Corporation will post $6.45 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be paid a dividend of $0.425 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.70 dividend on an annualized basis and a yield of 1.13%. Stryker Corporation’s payout ratio is currently 37.95%.
In other news, insider Lonny J. Carpenter sold 5,000 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $146.36, for a total value of $731,800.00. Following the completion of the transaction, the insider now owns 88,207 shares of the company’s stock, valued at $12,909,976.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Graham A. Mclean sold 1,124 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 8,983 shares of the company’s stock, valued at approximately $1,313,853.58. The disclosure for this sale can be found here. 7.40% of the stock is owned by corporate insiders.
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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