Stryker Co. (SYK) Position Reduced by Curbstone Financial Management Corp
Curbstone Financial Management Corp reduced its holdings in shares of Stryker Co. (NYSE:SYK) by 9.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,010 shares of the medical technology company’s stock after selling 300 shares during the quarter. Curbstone Financial Management Corp’s holdings in Stryker were worth $595,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of SYK. Blue Fin Capital Inc. raised its stake in shares of Stryker by 13.8% in the third quarter. Blue Fin Capital Inc. now owns 7,047 shares of the medical technology company’s stock valued at $1,252,000 after buying an additional 857 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Stryker by 316.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,741 shares of the medical technology company’s stock valued at $2,259,000 after buying an additional 9,685 shares during the period. Loomis Sayles & Co. L P bought a new stake in shares of Stryker in the third quarter valued at $1,391,000. Renaissance Technologies LLC bought a new stake in shares of Stryker in the third quarter valued at $26,368,000. Finally, Capital World Investors raised its stake in shares of Stryker by 987.2% in the third quarter. Capital World Investors now owns 1,657,979 shares of the medical technology company’s stock valued at $294,590,000 after buying an additional 1,505,479 shares during the period. Hedge funds and other institutional investors own 74.58% of the company’s stock.
In related news, insider Timothy J. Scannell sold 5,282 shares of the business’s stock in a transaction dated Wednesday, January 16th. The stock was sold at an average price of $163.50, for a total transaction of $863,607.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Yin C. Becker sold 15,240 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $198.03, for a total value of $3,017,977.20. Following the transaction, the vice president now owns 16,577 shares of the company’s stock, valued at $3,282,743.31. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 131,071 shares of company stock valued at $24,689,161. 7.20% of the stock is owned by company insiders.
Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 29th. The medical technology company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. Stryker had a return on equity of 27.60% and a net margin of 26.12%. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.73 billion. Research analysts forecast that Stryker Co. will post 8.13 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, March 28th. Stryker’s payout ratio is 28.45%.
SYK has been the topic of several research reports. Morgan Stanley lowered their target price on Stryker from $212.00 to $197.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 2nd. SunTrust Banks boosted their target price on Stryker to $205.00 and gave the company a “positive” rating in a research note on Monday, February 4th. Royal Bank of Canada boosted their target price on Stryker from $184.00 to $204.00 and gave the company an “outperform” rating in a research note on Monday, March 11th. Credit Suisse Group upgraded Stryker to an “outperform” rating in a research note on Thursday, January 31st. Finally, Wells Fargo & Co boosted their price objective on Stryker from $214.00 to $219.00 and gave the company an “outperform” rating in a research note on Monday, April 1st. Seven equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $191.76.
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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