Stryker Corporation (SYK) Stake Decreased by Wesbanco Bank Inc.
Wesbanco Bank Inc. lowered its position in Stryker Corporation (NYSE:SYK) by 3.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,945 shares of the medical technology company’s stock after selling 568 shares during the quarter. Wesbanco Bank Inc.’s holdings in Stryker Corporation were worth $2,074,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have 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 second quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock valued at $115,000 after acquiring an additional 3 shares during the period. Motco raised its stake in shares of Stryker Corporation by 50.7% in the second quarter. Motco now owns 826 shares of the medical technology company’s stock valued at $115,000 after acquiring an additional 278 shares during the period. James Investment Research Inc. purchased a new stake in shares of Stryker Corporation in the second quarter valued at $155,000. 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 acquiring an additional 9 shares during the period. Finally, 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 acquiring an additional 4 shares during the period. 74.13% of the stock is currently owned by institutional investors and hedge funds.
Stryker Corporation (SYK) opened at 140.14 on Tuesday. The firm’s 50-day moving average is $143.56 and its 200-day moving average is $138.98. Stryker Corporation has a 52-week low of $106.48 and a 52-week high of $148.84. The stock has a market cap of $52.42 billion, a P/E ratio of 31.28 and a beta of 0.81.
Stryker Corporation (NYSE:SYK) last released its earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share for the quarter, topping the Zacks’ 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 firm 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 firm earned $1.39 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities research analysts predict that Stryker Corporation will post $6.46 earnings per share 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 paid 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 dividend yield of 1.21%. Stryker Corporation’s payout ratio is 37.95%.
In related news, insider Graham A. Mclean sold 1,124 shares of the company’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 directly owns 8,983 shares in the company, valued at $1,313,853.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David Floyd sold 19,305 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The shares were 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. Insiders have sold 25,429 shares of company stock worth $3,686,927 over the last 90 days. Insiders own 7.40% of the company’s stock.
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Several brokerages have recently weighed in on SYK. Royal Bank Of Canada reissued a “buy” rating and issued a $155.00 target price on shares of Stryker Corporation in a research note on Friday, September 1st. Argus reissued a “buy” rating and issued a $160.00 target price on shares of Stryker Corporation in a research note on Tuesday, August 29th. BidaskClub downgraded shares of Stryker Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 26th. Needham & Company LLC raised shares of Stryker Corporation from an “underperform” rating to a “hold” rating in a research note on Friday, August 25th. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $148.00 target price on shares of Stryker Corporation in a research note on Thursday, August 24th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $145.73.
Stryker Corporation 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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