Prentiss Smith & Co. Inc. Maintains Position in Stryker Corporation (SYK)
Prentiss Smith & Co. Inc. held its stake in Stryker Corporation (NYSE:SYK) during the second quarter, Holdings Channel reports. The fund owned 4,430 shares of the medical technology company’s stock at the end of the second quarter. Prentiss Smith & Co. Inc.’s holdings in Stryker Corporation were worth $615,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in SYK. Bank of Montreal Can raised its stake in Stryker Corporation by 0.6% in the first quarter. Bank of Montreal Can now owns 193,426 shares of the medical technology company’s stock worth $25,466,000 after buying an additional 1,130 shares during the period. Starfire Investment Advisers Inc. bought a new stake in Stryker Corporation during the first quarter worth $209,000. Fox Run Management L.L.C. bought a new stake in Stryker Corporation during the first quarter worth $622,000. Tompkins Financial Corp raised its stake in Stryker Corporation by 2.7% in the first quarter. Tompkins Financial Corp now owns 11,957 shares of the medical technology company’s stock worth $1,282,000 after buying an additional 315 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Stryker Corporation during the first quarter worth $844,000. 73.79% of the stock is owned by hedge funds and other institutional investors.
Stryker Corporation (SYK) traded down 0.409% during trading on Friday, reaching $144.765. The company’s stock had a trading volume of 392,522 shares. The firm’s 50-day moving average price is $144.45 and its 200 day moving average price is $136.22. Stryker Corporation has a 12-month low of $106.48 and a 12-month high of $148.84. The company has a market capitalization of $54.15 billion, a P/E ratio of 32.314 and a beta of 0.80.
Stryker Corporation (NYSE:SYK) last issued its earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.02. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the prior year, the business earned $1.39 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, analysts predict that Stryker Corporation will post $6.50 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Thursday, September 28th. Stryker Corporation’s dividend payout ratio is 37.95%.
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SYK has been the subject of a number of analyst reports. Needham & Company LLC reissued a “sell” rating on shares of Stryker Corporation in a research note on Wednesday, April 26th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $140.00 price target (up previously from $135.00) on shares of Stryker Corporation in a research note on Wednesday, April 26th. Cowen and Company set a $150.00 price target on Stryker Corporation and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. Barclays PLC reaffirmed a “sell” rating and issued a $133.00 price target on shares of Stryker Corporation in a research note on Thursday, April 27th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $148.00 price target (up previously from $135.00) on shares of Stryker Corporation in a research note on Saturday, April 29th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. Stryker Corporation currently has an average rating of “Hold” and an average target price of $144.03.
In related news, insider Graham A. Mclean sold 1,124 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $146.26, for a total transaction of $164,396.24. Following the completion of the sale, the insider now directly owns 8,983 shares in the company, valued at approximately $1,313,853.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David Floyd sold 7,381 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $144.70, for a total value of $1,068,030.70. The disclosure for this sale can be found here. Insiders sold a total of 32,810 shares of company stock valued at $4,754,958 over the last quarter. Company insiders own 7.40% of the company’s stock.
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.
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