Nicholas Hoffman & Company LLC. cut its stake in shares of Stryker Co. (NYSE:SYK) by 12.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,776 shares of the medical technology company’s stock after selling 516 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Stryker were worth $629,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of SYK. Strategic Investment Advisors MI raised its position in Stryker by 11.4% during the fourth quarter. Strategic Investment Advisors MI now owns 1,563 shares of the medical technology company’s stock valued at $328,000 after purchasing an additional 160 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Stryker during the fourth quarter valued at approximately $416,000. Advisor Partners LLC raised its position in Stryker by 6.5% during the fourth quarter. Advisor Partners LLC now owns 7,626 shares of the medical technology company’s stock valued at $1,577,000 after purchasing an additional 464 shares during the period. Valeo Financial Advisors LLC raised its position in Stryker by 10.0% during the fourth quarter. Valeo Financial Advisors LLC now owns 5,590 shares of the medical technology company’s stock valued at $1,174,000 after purchasing an additional 506 shares during the period. Finally, Watch Point Trust Co raised its position in Stryker by 0.4% during the fourth quarter. Watch Point Trust Co now owns 22,699 shares of the medical technology company’s stock valued at $4,766,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.
In other news, Director Srikant M. Datar sold 200 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $194.32, for a total transaction of $38,864.00. Following the completion of the sale, the director now owns 17,686 shares in the company, valued at approximately $3,436,743.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Katherine Ann Owen sold 3,121 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $190.81, for a total value of $595,518.01. Following the sale, the vice president now owns 4,481 shares of the company’s stock, valued at approximately $855,019.61. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,670 shares of company stock valued at $2,380,526. 6.80% of the stock is owned by company insiders.
Stryker stock traded down $0.95 during mid-day trading on Friday, reaching $184.14. 1,659,719 shares of the company were exchanged, compared to its average volume of 1,767,916. The business has a fifty day moving average of $180.04 and a 200 day moving average of $195.08. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.77 and a current ratio of 2.58. The firm has a market cap of $69.38 billion, a P/E ratio of 32.36, a PEG ratio of 3.24 and a beta of 0.85. Stryker Co. has a 12-month low of $124.54 and a 12-month high of $226.30.
Stryker (NYSE:SYK) last posted its earnings results on Thursday, April 30th. The medical technology company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.15. The company had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.45 billion. Stryker had a return on equity of 24.90% and a net margin of 14.47%. Stryker’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.88 earnings per share. Sell-side analysts predict that Stryker Co. will post 6.2 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.575 per share. The ex-dividend date of this dividend is Monday, June 29th. This represents a $2.30 dividend on an annualized basis and a yield of 1.25%. Stryker’s dividend payout ratio is currently 27.85%.
A number of equities research analysts have issued reports on SYK shares. Morgan Stanley upped their price objective on Stryker from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Credit Suisse Group upped their target price on Stryker from $229.00 to $237.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Citigroup upped their target price on Stryker from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Robert W. Baird upped their target price on Stryker from $242.00 to $248.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Finally, BTIG Research reaffirmed a “buy” rating on shares of Stryker in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $214.23.
Stryker Company Profile
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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