Stryker Corporation (NYSE:SYK) Stake Cut by Greenleaf Trust
Greenleaf Trust decreased its stake in Stryker Corporation (NYSE:SYK) by 3.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,219,338 shares of the medical technology company’s stock after selling 764,087 shares during the period. Stryker Corporation makes up 76.8% of Greenleaf Trust’s investment portfolio, making the stock its largest position. Greenleaf Trust owned 0.06% of Stryker Corporation worth $3,364,517,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of SYK. Bollard Group LLC increased its stake in 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. Assetmark Inc. increased its stake in 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. Blue Chip Partners Inc. increased its stake in Stryker Corporation by 0.3% in the first quarter. Blue Chip Partners Inc. now owns 1,775 shares of the medical technology company’s stock valued at $234,000 after buying an additional 6 shares in the last quarter. Guardian Life Insurance Co. of America increased its stake in 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. Finally, Baystate Wealth Management LLC increased its stake in 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. 73.79% of the stock is owned by hedge funds and other institutional investors.
Stryker Corporation (NYSE SYK) traded up 0.9643% during mid-day trading on Monday, reaching $145.5703. 404,528 shares of the company traded hands. Stryker Corporation has a 52-week low of $106.48 and a 52-week high of $148.84. The stock has a 50 day moving average price of $143.72 and a 200-day moving average price of $135.51. The company has a market capitalization of $54.45 billion, a P/E ratio of 32.4934 and a beta of 0.80.
Stryker Corporation (NYSE:SYK) last announced its quarterly earnings data on Thursday, July 27th. The medical technology company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.98 billion. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. Stryker Corporation’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $1.39 earnings per share. Analysts expect that Stryker Corporation will post $6.50 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be paid a $0.425 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.70 annualized dividend and a dividend yield of 1.18%. Stryker Corporation’s payout ratio is 37.95%.
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SYK has been the subject of several research reports. BMO Capital Markets reiterated a “hold” rating and set a $140.00 price objective on shares of Stryker Corporation in a research note on Tuesday, July 11th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Stryker Corporation in a research note on Monday, June 19th. Citigroup Inc. boosted their price objective on shares of Stryker Corporation from $114.00 to $125.00 and gave the stock a “sell” rating in a research note on Friday, June 9th. Cantor Fitzgerald initiated coverage on shares of Stryker Corporation in a research note on Thursday, June 29th. They set a “neutral” rating and a $153.00 price objective for the company. Finally, Morgan Stanley reiterated an “overweight” rating and set a $160.00 price objective (up from $155.00) on shares of Stryker Corporation in a research note on Monday, July 10th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $144.03.
In other news, insider Graham A. Mclean sold 1,124 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $146.26, for a total value 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 filing with the SEC, which is available at this hyperlink. 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 transaction of $2,790,730.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,810 shares of company stock worth $4,754,958. 7.40% of the stock is currently owned by corporate insiders.
About Stryker Corporation
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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