NEXT Financial Group Inc Reduces Stake in Stryker Corporation (SYK)
NEXT Financial Group Inc lessened its position in Stryker Corporation (NYSE:SYK) by 37.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,610 shares of the medical technology company’s stock after selling 950 shares during the period. NEXT Financial Group Inc’s holdings in Stryker Corporation were worth $236,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Macquarie Group Ltd. raised its stake in shares of Stryker Corporation by 3.5% in the 3rd quarter. Macquarie Group Ltd. now owns 110,720 shares of the medical technology company’s stock worth $15,724,000 after buying an additional 3,700 shares in the last quarter. Buckingham Capital Management Inc. raised its position in shares of Stryker Corporation by 9.4% during the third quarter. Buckingham Capital Management Inc. now owns 10,521 shares of the medical technology company’s stock worth $1,494,000 after purchasing an additional 905 shares during the period. Commonwealth Equity Services Inc raised its position in shares of Stryker Corporation by 0.7% during the third quarter. Commonwealth Equity Services Inc now owns 107,974 shares of the medical technology company’s stock worth $15,334,000 after purchasing an additional 779 shares during the period. Advisors Asset Management Inc. raised its position in shares of Stryker Corporation by 11.8% during the third quarter. Advisors Asset Management Inc. now owns 27,989 shares of the medical technology company’s stock worth $3,975,000 after purchasing an additional 2,948 shares during the period. Finally, Putnam FL Investment Management Co. acquired a new stake in shares of Stryker Corporation during the third quarter worth $6,325,000. 74.20% of the stock is currently owned by institutional investors.
SYK has been the topic of several recent analyst reports. Royal Bank Of Canada reissued a “buy” rating and set a $155.00 price target on shares of Stryker Corporation in a research report on Monday, October 2nd. ValuEngine upgraded Stryker Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. SunTrust Banks, Inc. restated a “buy” rating and issued a $161.00 target price on shares of Stryker Corporation in a research note on Friday, November 17th. BidaskClub upgraded Stryker Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Finally, Cowen and Company restated a “buy” rating and issued a $160.00 target price (up previously from $150.00) on shares of Stryker Corporation in a research note on Sunday, July 30th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the stock. Stryker Corporation presently has an average rating of “Hold” and an average price target of $152.10.
In related news, insider Lonny J. Carpenter sold 5,000 shares of the firm’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $155.34, for a total transaction of $776,700.00. Following the sale, the insider now owns 83,207 shares of the company’s stock, valued at approximately $12,925,375.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.40% of the company’s stock.
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Stryker Corporation (NYSE:SYK) traded up $0.98 during trading hours on Wednesday, hitting $155.73. The stock had a trading volume of 997,900 shares, compared to its average volume of 1,176,642. Stryker Corporation has a 1-year low of $108.29 and a 1-year 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. The company has a market cap of $57,913.27, a price-to-earnings ratio of 24.52, a P/E/G ratio of 2.44 and a beta of 0.79.
Stryker Corporation (NYSE:SYK) last issued its quarterly earnings data on Thursday, October 26th. The medical technology company reported $1.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.02. The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.97 billion. Stryker Corporation had a return on equity of 24.11% and a net margin of 14.67%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.39 EPS. sell-side analysts predict that Stryker Corporation will post 6.47 earnings per share for the current year.
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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