Stryker Corporation (NYSE:SYK) Shares Sold by North Star Asset Management Inc.
North Star Asset Management Inc. cut its stake in Stryker Corporation (NYSE:SYK) by 1.7% during the first quarter, Holdings Channel reports. The fund owned 85,382 shares of the medical technology company’s stock after selling 1,453 shares during the period. Stryker Corporation comprises about 1.2% of North Star Asset Management Inc.’s portfolio, making the stock its 22nd largest position. North Star Asset Management Inc.’s holdings in Stryker Corporation were worth $11,241,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of SYK. Bank of Nova Scotia boosted its stake in Stryker Corporation by 913.0% in the first quarter. Bank of Nova Scotia now owns 70,790 shares of the medical technology company’s stock valued at $9,319,000 after buying an additional 63,802 shares during the last quarter. Northern Oak Wealth Management Inc. boosted its stake in Stryker Corporation by 38.1% in the first quarter. Northern Oak Wealth Management Inc. now owns 4,280 shares of the medical technology company’s stock valued at $563,000 after buying an additional 1,180 shares during the last quarter. Hutchens Investment Management Inc purchased a new stake in Stryker Corporation during the first quarter valued at about $2,904,000. Green Square Capital LLC purchased a new stake in Stryker Corporation during the first quarter valued at about $424,000. Finally, Summit Global Investments purchased a new stake in Stryker Corporation during the first quarter valued at about $542,000. Institutional investors own 73.99% of the company’s stock.
Stryker Corporation (SYK) traded up 0.41% during mid-day trading on Friday, hitting $144.50. 262,217 shares of the stock traded hands. The company has a market cap of $54.05 billion, a price-to-earnings ratio of 32.25 and a beta of 0.80. Stryker Corporation has a 12 month low of $106.48 and a 12 month high of $148.84. The stock’s 50 day moving average is $143.63 and its 200-day moving average is $135.35.
Stryker Corporation (NYSE:SYK) last released its quarterly earnings results on Thursday, July 27th. The medical technology company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.51 by $0.02. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same period in the prior year, the business earned $1.39 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities research analysts anticipate that Stryker Corporation will post $6.50 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 dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.70 dividend on an annualized basis and a yield of 1.18%. Stryker Corporation’s dividend payout ratio (DPR) is currently 37.95%.
Several research firms recently issued reports on SYK. Zacks Investment Research upgraded Stryker Corporation from a “hold” rating to a “buy” rating and set a $166.00 price objective on the stock in a report on Tuesday, August 1st. BidaskClub cut Stryker Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Cowen and Company reiterated a “buy” rating and issued a $160.00 price objective (up from $150.00) on shares of Stryker Corporation in a report on Sunday, July 30th. Stifel Nicolaus lifted their price objective on Stryker Corporation from $151.00 to $158.00 and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, Oppenheimer Holdings, Inc. set a $148.00 price objective on Stryker Corporation and gave the stock a “hold” rating in a report on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the stock. Stryker Corporation has a consensus rating of “Hold” and a consensus target price of $144.03.
In related news, insider Graham A. Mclean sold 1,124 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $146.26, for a total transaction of $164,396.24. Following the sale, the insider now owns 8,983 shares in the company, valued at $1,313,853.58. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David Floyd sold 7,381 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $144.70, for a total transaction of $1,068,030.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,810 shares of company stock worth $4,754,958. 7.40% of the stock is 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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