SlateStone Wealth LLC Boosts Stake in Stryker Co. (NYSE:SYK)
SlateStone Wealth LLC raised its position in Stryker Co. (NYSE:SYK) by 33.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,415 shares of the medical technology company’s stock after purchasing an additional 357 shares during the quarter. SlateStone Wealth LLC’s holdings in Stryker were worth $291,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Farmers National Bank purchased a new stake in Stryker in the 1st quarter worth about $25,000. Massey Quick Simon & CO. LLC purchased a new stake in Stryker in the 2nd quarter worth about $27,000. Cable Hill Partners LLC purchased a new stake in Stryker in the 1st quarter worth about $30,000. Webster Bank N. A. raised its position in Stryker by 300.0% in the 2nd quarter. Webster Bank N. A. now owns 200 shares of the medical technology company’s stock worth $41,000 after purchasing an additional 150 shares during the period. Finally, Westside Investment Management Inc. purchased a new stake in Stryker in the 2nd quarter worth about $47,000. 74.14% of the stock is currently owned by institutional investors.
SYK stock traded down $0.56 during mid-day trading on Thursday, reaching $218.47. The company had a trading volume of 135,751 shares, compared to its average volume of 1,104,721. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.07 and a quick ratio of 1.26. The company has a market capitalization of $81.79 billion, a PE ratio of 29.89, a price-to-earnings-growth ratio of 2.65 and a beta of 0.85. The firm has a 50 day moving average of $212.01 and a 200 day moving average of $195.73. Stryker Co. has a 12 month low of $144.75 and a 12 month high of $222.59.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, September 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.95%. Stryker’s dividend payout ratio is presently 28.45%.
In other news, insider Timothy J. Scannell sold 4,666 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $205.88, for a total transaction of $960,636.08. Following the transaction, the insider now directly owns 155,963 shares in the company, valued at $32,109,662.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Srikant M. Datar sold 350 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $215.00, for a total transaction of $75,250.00. Following the transaction, the director now owns 6,844 shares in the company, valued at $1,471,460. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,447 shares of company stock worth $4,262,634. Insiders own 7.20% of the company’s stock.
SYK has been the topic of a number of recent analyst reports. Wells Fargo & Co increased their price objective on shares of Stryker from $219.00 to $228.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 2nd. Svb Leerink reissued an “outperform” rating on shares of Stryker in a research report on Wednesday, July 10th. Morgan Stanley increased their price objective on shares of Stryker from $218.00 to $230.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Piper Jaffray Companies increased their price objective on shares of Stryker from $205.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, BMO Capital Markets set a $216.00 target price on shares of Stryker and gave the stock a “hold” rating in a research note on Friday, July 26th. Five research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $214.89.
Stryker Company Profile
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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