Stryker Co. (SYK) Shares Sold by Dynamic Technology Lab Private Ltd
Dynamic Technology Lab Private Ltd lowered its position in shares of Stryker Co. (NYSE:SYK) by 23.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,461 shares of the medical technology company’s stock after selling 459 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Stryker were worth $246,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. MayTech Global Investments LLC raised its holdings in shares of Stryker by 9.5% during the second quarter. MayTech Global Investments LLC now owns 18,487 shares of the medical technology company’s stock valued at $3,122,000 after acquiring an additional 1,604 shares during the last quarter. Quest Investment Management LLC acquired a new position in shares of Stryker during the second quarter valued at approximately $12,762,000. Nissay Asset Management Corp Japan ADV raised its holdings in shares of Stryker by 1.4% during the second quarter. Nissay Asset Management Corp Japan ADV now owns 40,024 shares of the medical technology company’s stock valued at $6,758,000 after acquiring an additional 544 shares during the last quarter. Chartwell Investment Partners LLC acquired a new position in shares of Stryker during the second quarter valued at approximately $1,409,000. Finally, BlackRock Inc. raised its holdings in shares of Stryker by 2.7% during the second quarter. BlackRock Inc. now owns 24,551,677 shares of the medical technology company’s stock valued at $4,145,795,000 after acquiring an additional 646,505 shares during the last quarter. 75.02% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded Stryker from a “hold” rating to a “buy” rating and set a $196.00 price target for the company in a research report on Friday, June 1st. BMO Capital Markets restated a “hold” rating and issued a $174.00 price target on shares of Stryker in a research report on Thursday, July 12th. JPMorgan Chase & Co. upped their price target on Stryker to $200.00 and gave the company an “overweight” rating in a research report on Thursday, September 13th. Needham & Company LLC restated a “hold” rating on shares of Stryker in a research report on Wednesday, July 25th. Finally, Canaccord Genuity restated a “buy” rating and issued a $185.00 price target on shares of Stryker in a research report on Wednesday, July 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $178.33.
Shares of Stryker stock opened at $174.50 on Monday. The company has a market capitalization of $65.26 billion, a P/E ratio of 26.89, a price-to-earnings-growth ratio of 2.45 and a beta of 0.59. Stryker Co. has a fifty-two week low of $138.94 and a fifty-two week high of $179.84. The company has a quick ratio of 1.15, a current ratio of 1.83 and a debt-to-equity ratio of 0.63.
Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, July 24th. The medical technology company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.03. The company had revenue of $3.32 billion during the quarter, compared to analyst estimates of $3.31 billion. Stryker had a return on equity of 26.93% and a net margin of 8.28%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.53 earnings per share. equities research analysts predict that Stryker Co. will post 7.25 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Investors of record on Friday, September 28th will be given a $0.47 dividend. The ex-dividend date is Thursday, September 27th. This represents a $1.88 annualized dividend and a yield of 1.08%. Stryker’s payout ratio is 28.97%.
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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