Pinnacle Bank lifted its position in Stryker Co. (NYSE:SYK) by 9.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,592 shares of the medical technology company’s stock after purchasing an additional 140 shares during the period. Pinnacle Bank’s holdings in Stryker were worth $287,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. State Street Corp grew its holdings in Stryker by 1.0% in the first quarter. State Street Corp now owns 13,812,677 shares of the medical technology company’s stock worth $2,307,526,000 after purchasing an additional 136,388 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Stryker by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 7,006,593 shares of the medical technology company’s stock worth $1,166,528,000 after acquiring an additional 28,171 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Stryker by 20.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 6,216,034 shares of the medical technology company’s stock worth $1,034,908,000 after purchasing an additional 1,069,721 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Stryker by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 4,579,828 shares of the medical technology company’s stock valued at $959,331,000 after purchasing an additional 185,637 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Stryker during the 4th quarter worth approximately $604,447,000. Institutional investors own 71.27% of the company’s stock.
SYK traded down $0.25 during midday trading on Tuesday, hitting $183.64. 625,268 shares of the company traded hands, compared to its average volume of 1,713,144. Stryker Co. has a 52-week low of $124.54 and a 52-week high of $226.30. The company has a current ratio of 2.58, a quick ratio of 1.77 and a debt-to-equity ratio of 0.72. The business has a 50 day simple moving average of $189.01 and a two-hundred day simple moving average of $191.85. The company has a market capitalization of $68.95 billion, a price-to-earnings ratio of 32.30, a PEG ratio of 3.21 and a beta of 0.84.
Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, April 30th. The medical technology company reported $1.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.69 by $0.15. Stryker had a return on equity of 24.90% and a net margin of 14.47%. The company had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same period in the previous year, the business earned $1.88 EPS. Stryker’s quarterly revenue was up 2.0% on a year-over-year basis. Equities research analysts anticipate that Stryker Co. will post 6.22 earnings per share 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 paid a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Monday, June 29th. Stryker’s dividend payout ratio (DPR) is presently 27.85%.
In other Stryker news, Director Srikant M. Datar sold 350 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $191.20, for a total transaction of $66,920.00. Following the transaction, the director now directly owns 17,226 shares in the company, valued at $3,293,611.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Srikant M. Datar sold 200 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $186.01, for a total transaction of $37,202.00. Following the completion of the transaction, the director now directly owns 17,686 shares of the company’s stock, valued at approximately $3,289,772.86. The disclosure for this sale can be found here. In the last three months, insiders sold 30,670 shares of company stock valued at $5,775,251. Corporate insiders own 6.80% of the company’s stock.
A number of brokerages recently commented on SYK. Zacks Investment Research cut Stryker from a “hold” rating to a “sell” rating and set a $190.00 target price for the company. in a report on Monday, May 4th. Barclays cut shares of Stryker from an “equal weight” rating to an “underweight” rating and set a $155.00 price objective on the stock. in a research note on Monday, April 13th. Morgan Stanley lifted their price target on Stryker from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, May 1st. UBS Group reduced their price target on Stryker from $230.00 to $202.00 and set a “neutral” rating for the company in a research report on Friday, May 1st. Finally, Wells Fargo & Co raised their price objective on shares of Stryker from $201.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $214.23.
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.
See Also: Technical Analysis
Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Co. (NYSE:SYK).
Receive News & Ratings for Stryker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stryker and related companies with MarketBeat.com's FREE daily email newsletter.