Westpac Banking Corp Has $30.33 Million Stake in Stryker Corporation (SYK)
Westpac Banking Corp raised its holdings in shares of Stryker Corporation (NYSE:SYK) by 18.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 213,525 shares of the medical technology company’s stock after acquiring an additional 33,375 shares during the quarter. Stryker Corporation makes up 0.7% of Westpac Banking Corp’s investment portfolio, making the stock its 22nd biggest holding. Westpac Banking Corp owned about 0.06% of Stryker Corporation worth $30,325,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in SYK. Acrospire Investment Management LLC acquired a new position in shares of Stryker Corporation during the 2nd quarter worth about $111,000. Bollard Group LLC boosted its position in shares of Stryker Corporation by 0.4% during the 2nd quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock worth $115,000 after acquiring an additional 3 shares in the last quarter. Motco boosted its position in shares of Stryker Corporation by 50.7% during the 2nd quarter. Motco now owns 826 shares of the medical technology company’s stock worth $115,000 after acquiring an additional 278 shares in the last quarter. Bruderman Asset Management LLC acquired a new position in shares of Stryker Corporation during the 2nd quarter worth about $150,000. Finally, James Investment Research Inc. acquired a new position in shares of Stryker Corporation during the 2nd quarter worth about $155,000. 74.00% of the stock is owned by institutional investors and hedge funds.
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Shares of Stryker Corporation (NYSE SYK) opened at $156.18 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $58,014.32, a price-to-earnings ratio of 24.57, a P/E/G ratio of 2.44 and a beta of 0.79.
Stryker Corporation (NYSE:SYK) last posted its quarterly earnings data on Thursday, October 26th. The medical technology company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.02. Stryker Corporation had a return on equity of 24.11% and a net margin of 14.67%. The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same period last year, the firm earned $1.39 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. research analysts predict that Stryker Corporation will post 6.47 EPS for the current year.
Several research analysts have recently issued reports on SYK shares. Morgan Stanley reaffirmed an “overweight” rating and set a $160.00 price objective (up from $155.00) on shares of Stryker Corporation in a research report on Monday, July 10th. BMO Capital Markets reaffirmed a “hold” rating and set a $140.00 price objective on shares of Stryker Corporation in a research report on Tuesday, July 11th. Zacks Investment Research raised Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 price objective for the company in a research report on Monday, July 17th. Royal Bank Of Canada upped their price objective on Stryker Corporation from $140.00 to $155.00 and gave the stock an “outperform” rating in a research 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 research report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $151.52.
In other news, insider Graham A. Mclean sold 1,124 shares of the stock in a transaction that occurred 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 document filed with the SEC, which is accessible through this link. 7.40% of the stock is currently owned by company insiders.
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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