Stryker Co. (SYK) Position Trimmed by Zurich Insurance Group Ltd FI
Zurich Insurance Group Ltd FI decreased its position in shares of Stryker Co. (NYSE:SYK) by 20.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,775 shares of the medical technology company’s stock after selling 11,831 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in Stryker were worth $6,214,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of SYK. Acrospire Investment Management LLC bought a new stake in Stryker during the second quarter worth about $111,000. Bollard Group LLC lifted its position in Stryker 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 purchasing an additional 3 shares during the period. Motco lifted its position in Stryker by 50.7% during the second quarter. Motco now owns 826 shares of the medical technology company’s stock worth $115,000 after purchasing an additional 278 shares during the period. Bruderman Asset Management LLC bought a new stake in Stryker during the second quarter worth about $150,000. Finally, James Investment Research Inc. bought a new stake in Stryker during the second quarter worth about $155,000. 74.10% of the stock is owned by institutional investors and hedge funds.
In other Stryker news, insider Graham A. Mclean sold 1,124 shares of Stryker stock in a transaction that occurred 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 transaction, the insider now directly owns 8,983 shares of the company’s stock, valued at approximately $1,313,853.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lonny J. Carpenter sold 5,000 shares of Stryker stock in a transaction that occurred 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 directly owns 88,207 shares in the company, valued at $12,909,976.52. The disclosure for this sale can be found here. Insiders own 7.40% of the company’s stock.
Stryker Co. (SYK) opened at 148.64 on Thursday. Stryker Co. has a 1-year low of $106.48 and a 1-year high of $150.00. The stock has a 50 day moving average price of $143.70 and a 200 day moving average price of $140.89. The firm has a market cap of $55.60 billion, a P/E ratio of 33.18 and a beta of 0.80.
Stryker (NYSE:SYK) last released its earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.02. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.98 billion. Stryker had a return on equity of 15.89% and a net margin of 12.98%. Stryker’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.39 EPS. On average, analysts anticipate that Stryker Co. will post $6.45 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be given a $0.425 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.70 dividend on an annualized basis and a yield of 1.14%. Stryker’s payout ratio is 37.95%.
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SYK has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Stryker from a “hold” rating to a “buy” rating and set a $163.00 price objective for the company in a research report on Monday, July 17th. Cowen and Company reissued a “buy” rating and set a $160.00 target price (up previously from $150.00) on shares of Stryker in a research note on Sunday, July 30th. Stifel Nicolaus boosted their target price on Stryker from $151.00 to $158.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. BidaskClub raised Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Finally, Canaccord Genuity reissued a “buy” rating and set a $155.00 target price (down previously from $158.00) on shares of Stryker in a research note on Thursday, August 24th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $146.78.
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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