EFG Asset Management Americas Corp. acquired a new position in shares of Stryker Co. (NYSE:SYK) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,343 shares of the medical technology company’s stock, valued at approximately $242,000.
Several other institutional investors also recently modified their holdings of SYK. Evolution Wealth Advisors LLC increased its holdings in shares of Stryker by 64.4% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 143 shares of the medical technology company’s stock worth $26,000 after buying an additional 56 shares during the last quarter. WASHINGTON TRUST Co acquired a new stake in shares of Stryker during the 1st quarter worth $28,000. Filbrandt Wealth Management LLC acquired a new stake in shares of Stryker during the 1st quarter worth $30,000. Balentine LLC acquired a new stake in shares of Stryker during the 1st quarter worth $31,000. Finally, Ballast Advisors LLC acquired a new stake in shares of Stryker during the 1st quarter worth $31,000. Hedge funds and other institutional investors own 71.24% of the company’s stock.
A number of analysts recently weighed in on SYK shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Stryker in a research report on Friday. Wells Fargo & Co upped their price target on shares of Stryker from $201.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. decreased their price objective on shares of Stryker from $240.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, April 15th. Deutsche Bank decreased their price objective on shares of Stryker from $243.00 to $228.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Finally, Stifel Nicolaus upped their price objective on shares of Stryker from $145.00 to $205.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $216.25.
NYSE SYK traded down $6.90 during midday trading on Friday, hitting $193.30. The company had a trading volume of 2,221,195 shares, compared to its average volume of 1,253,880. Stryker Co. has a fifty-two week low of $124.54 and a fifty-two week high of $226.30. The stock has a market cap of $72.45 billion, a price-to-earnings ratio of 45.91, a P/E/G ratio of 3.36 and a beta of 0.84. The firm has a fifty day simple moving average of $186.61 and a two-hundred day simple moving average of $189.31. The company has a quick ratio of 1.77, a current ratio of 2.58 and a debt-to-equity ratio of 0.72.
Stryker (NYSE:SYK) last announced its earnings results on Thursday, July 30th. The medical technology company reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.02. The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.63 billion. Stryker had a net margin of 11.38% and a return on equity of 20.53%. As a group, equities analysts predict that Stryker Co. will post 6.26 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Tuesday, September 29th. Stryker’s payout ratio is 27.85%.
In related news, CFO Glenn S. Boehnlein sold 10,351 shares of Stryker stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $185.24, for a total transaction of $1,917,419.24. Following the sale, the chief financial officer now owns 16,321 shares of the company’s stock, valued at approximately $3,023,302.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Srikant M. Datar sold 200 shares of Stryker stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $186.01, for a total value of $37,202.00. Following the completion of the transaction, the director now 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. Insiders sold a total of 30,670 shares of company stock worth $5,775,251 over the last 90 days. 6.80% of the stock is currently owned by company 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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