Stryker Corporation (NYSE:SYK) Position Cut by Bristlecone Advisors LLC
Bristlecone Advisors LLC reduced its stake in shares of Stryker Corporation (NYSE:SYK) by 2.4% during the first quarter, Holdings Channel reports. The institutional investor owned 4,082 shares of the medical technology company’s stock after selling 99 shares during the period. Bristlecone Advisors LLC’s holdings in Stryker Corporation were worth $537,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Bollard Group LLC raised its stake in shares of Stryker Corporation by 0.4% in the first quarter. Bollard Group LLC now owns 829 shares of the medical technology company’s stock valued at $109,000 after buying an additional 3 shares in the last quarter. Baystate Wealth Management LLC raised its stake in shares of Stryker Corporation by 2.1% in the first quarter. Baystate Wealth Management LLC now owns 1,066 shares of the medical technology company’s stock valued at $139,000 after buying an additional 22 shares in the last quarter. Guardian Life Insurance Co. of America raised its stake in shares of Stryker Corporation by 0.8% in the first quarter. Guardian Life Insurance Co. of America now owns 1,199 shares of the medical technology company’s stock valued at $158,000 after buying an additional 9 shares in the last quarter. Assetmark Inc. raised its stake in shares of Stryker Corporation by 0.3% in the first quarter. Assetmark Inc. now owns 1,274 shares of the medical technology company’s stock valued at $168,000 after buying an additional 4 shares in the last quarter. Finally, Daiwa SB Investments Ltd. bought a new stake in shares of Stryker Corporation during the first quarter valued at approximately $170,000. 73.99% of the stock is currently owned by institutional investors and hedge funds.
Stryker Corporation (NYSE SYK) traded up 0.19% during midday trading on Friday, hitting $144.18. The stock had a trading volume of 847,631 shares. Stryker Corporation has a 52 week low of $106.48 and a 52 week high of $148.84. The company’s 50-day moving average price is $143.71 and its 200 day moving average price is $135.51. The company has a market capitalization of $53.93 billion, a PE ratio of 32.18 and a beta of 0.80.
Stryker Corporation (NYSE:SYK) last released its quarterly earnings data on Thursday, July 27th. The medical technology company reported $1.53 earnings per share for the quarter, beating 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 company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter last year, the business posted $1.39 EPS. Stryker Corporation’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, analysts expect that Stryker Corporation will post $6.50 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Thursday, September 28th. Stryker Corporation’s dividend payout ratio (DPR) is 37.95%.
SYK has been the topic of several recent analyst reports. 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. BidaskClub lowered Stryker Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Zacks Investment Research raised Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 price target on the stock in a research note on Monday, July 17th. Stifel Nicolaus boosted their price target on Stryker Corporation from $151.00 to $158.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $160.00 price target (up previously from $150.00) on shares of Stryker Corporation in a research note on Sunday, July 30th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $144.03.
In related news, insider Graham A. Mclean sold 1,124 shares of the firm’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 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 filing with the SEC, which can be accessed through the SEC website. Also, insider David Floyd sold 19,305 shares of the firm’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $144.56, for a total value of $2,790,730.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,810 shares of company stock worth $4,754,958. 7.40% of the stock is currently owned by company insiders.
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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