Stryker Corporation (SYK) Position Increased by Argent Trust Co
Argent Trust Co boosted its position in Stryker Corporation (NYSE:SYK) by 6.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,888 shares of the medical technology company’s stock after purchasing an additional 398 shares during the period. Argent Trust Co’s holdings in Stryker were worth $978,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Coldstream Capital Management Inc. increased its holdings in Stryker by 3.7% in the 2nd quarter. Coldstream Capital Management Inc. now owns 17,445 shares of the medical technology company’s stock worth $2,421,000 after purchasing an additional 626 shares in the last quarter. Retirement Systems of Alabama increased its holdings in Stryker by 2.5% in the 3rd quarter. Retirement Systems of Alabama now owns 234,870 shares of the medical technology company’s stock worth $33,356,000 after purchasing an additional 5,656 shares in the last quarter. Lockheed Martin Investment Management Co. acquired a new position in Stryker in the 2nd quarter worth about $1,249,000. Toronto Dominion Bank increased its holdings in Stryker by 25.8% in the 2nd quarter. Toronto Dominion Bank now owns 105,403 shares of the medical technology company’s stock worth $14,625,000 after purchasing an additional 21,585 shares in the last quarter. Finally, Colonial Trust Advisors increased its holdings in Stryker by 56.1% in the 2nd quarter. Colonial Trust Advisors now owns 23,446 shares of the medical technology company’s stock worth $3,254,000 after purchasing an additional 8,426 shares in the last quarter. 74.97% of the stock is owned by institutional investors and hedge funds.
In related news, insider Lonny J. Carpenter sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $155.34, for a total transaction of $776,700.00. Following the completion of the sale, the insider now owns 83,207 shares of the company’s stock, valued at $12,925,375.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 7.40% of the company’s stock.
A number of equities analysts have issued reports on SYK shares. BidaskClub raised Stryker from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Zacks Investment Research cut Stryker from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. Oppenheimer reaffirmed a “hold” rating on shares of Stryker in a report on Wednesday, August 23rd. Canaccord Genuity reaffirmed a “buy” rating and issued a $155.00 target price (down previously from $158.00) on shares of Stryker in a report on Thursday, August 24th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $148.00 target price on shares of Stryker in a report on Thursday, August 24th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $152.10.
Shares of Stryker Corporation (NYSE SYK) traded down $0.13 during mid-day trading on Monday, hitting $155.87. The stock had a trading volume of 1,263,800 shares, compared to its average volume of 1,181,647. The firm has a market capitalization of $58,332.41, a PE ratio of 24.70, a price-to-earnings-growth ratio of 2.45 and a beta of 0.78. The company has a current ratio of 2.37, a quick ratio of 1.61 and a debt-to-equity ratio of 0.63. Stryker Corporation has a 12 month low of $111.22 and a 12 month high of $160.62.
Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.02. The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.97 billion. Stryker had a return on equity of 24.11% and a net margin of 14.67%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.39 earnings per share. equities analysts forecast that Stryker Corporation will post 6.47 earnings per share for the current year.
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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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