WINTON GROUP Ltd Decreases Position in Stryker Co. (SYK)
WINTON GROUP Ltd cut its holdings in shares of Stryker Co. (NYSE:SYK) by 51.1% in the second quarter, HoldingsChannel.com reports. The firm owned 7,225 shares of the medical technology company’s stock after selling 7,548 shares during the period. WINTON GROUP Ltd’s holdings in Stryker were worth $1,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Thrivent Financial for Lutherans raised its position in shares of Stryker by 4.3% in the first quarter. Thrivent Financial for Lutherans now owns 17,834 shares of the medical technology company’s stock worth $2,870,000 after acquiring an additional 742 shares during the period. JPMorgan Chase & Co. raised its position in shares of Stryker by 59.2% in the first quarter. JPMorgan Chase & Co. now owns 358,818 shares of the medical technology company’s stock worth $57,740,000 after acquiring an additional 133,464 shares during the period. Evergreen Capital Management LLC acquired a new position in shares of Stryker in the first quarter worth about $289,000. IFM Investors Pty Ltd raised its position in shares of Stryker by 11.1% in the first quarter. IFM Investors Pty Ltd now owns 10,529 shares of the medical technology company’s stock worth $1,694,000 after acquiring an additional 1,050 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Stryker by 3.1% in the first quarter. Dimensional Fund Advisors LP now owns 658,357 shares of the medical technology company’s stock worth $105,943,000 after acquiring an additional 19,528 shares during the period. Institutional investors own 75.04% of the company’s stock.
A number of research analysts have weighed in on the stock. ValuEngine upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, June 26th. Sanford C. Bernstein assumed coverage on shares of Stryker in a research report on Wednesday, June 27th. They issued a “market perform” rating and a $177.00 price objective for the company. Zacks Investment Research upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $191.00 price objective for the company in a research report on Wednesday, June 20th. Canaccord Genuity reiterated a “buy” rating and issued a $185.00 price objective on shares of Stryker in a research report on Wednesday, July 25th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $174.00 price objective on shares of Stryker in a research report on Thursday, July 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $178.33.
Stryker (NYSE:SYK) last released its earnings results on Tuesday, July 24th. The medical technology company reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.03. The business had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $3.31 billion. Stryker had a net margin of 8.28% and a return on equity of 26.93%. The company’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.53 earnings per share. equities analysts anticipate that Stryker Co. will post 7.25 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.07%. Stryker’s dividend payout ratio is currently 28.97%.
In other news, VP Katherine Ann Owen sold 37,866 shares of the business’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $166.84, for a total transaction of $6,317,563.44. Following the completion of the sale, the vice president now owns 11,367 shares of the company’s stock, valued at $1,896,470.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.30% of the stock is owned by insiders.
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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