Daiwa Securities Group Inc. decreased its position in shares of Stryker Corporation (NYSE:SYK) by 38.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,900 shares of the medical technology company’s stock after selling 10,700 shares during the period. Daiwa Securities Group Inc.’s holdings in Stryker Corporation were worth $2,345,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Lockheed Martin Investment Management Co. purchased a new position in Stryker Corporation during the second quarter worth $1,249,000. JPMorgan Chase & Co. boosted its stake in Stryker Corporation by 276.9% during the first quarter. JPMorgan Chase & Co. now owns 269,555 shares of the medical technology company’s stock worth $35,487,000 after buying an additional 198,035 shares during the period. BB&T Corp boosted its stake in Stryker Corporation by 5.7% during the second quarter. BB&T Corp now owns 56,546 shares of the medical technology company’s stock worth $7,847,000 after buying an additional 3,060 shares during the period. British Columbia Investment Management Corp boosted its stake in Stryker Corporation by 10.7% during the first quarter. British Columbia Investment Management Corp now owns 133,596 shares of the medical technology company’s stock worth $17,588,000 after buying an additional 12,871 shares during the period. Finally, Hartland & Co. LLC boosted its stake in Stryker Corporation by 1.4% during the first quarter. Hartland & Co. LLC now owns 1,860 shares of the medical technology company’s stock worth $245,000 after buying an additional 25 shares during the period. Hedge funds and other institutional investors own 74.18% of the company’s stock.
In related news, insider Graham A. Mclean sold 1,124 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $146.26, for a total value 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 available through the SEC website. Also, insider David Floyd sold 19,305 shares of the stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $144.56, for a total transaction of $2,790,730.80. The disclosure for this sale can be found here. Insiders sold a total of 25,429 shares of company stock valued at $3,686,927 in the last three months. 7.40% of the stock is owned by company insiders.
Stryker Corporation (SYK) opened at 143.88 on Friday. The stock has a market cap of $53.82 billion, a PE ratio of 32.12 and a beta of 0.81. The stock has a 50 day moving average price of $143.77 and a 200 day moving average price of $138.65. Stryker Corporation has a 52 week low of $106.48 and a 52 week high of $148.84.
Stryker Corporation (NYSE:SYK) last announced its earnings results on Thursday, July 27th. The medical technology company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.51 by $0.02. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the previous year, the business earned $1.39 EPS. Stryker Corporation’s revenue was up 6.1% compared to the same quarter last year. On average, equities analysts predict that Stryker Corporation will post $6.46 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Thursday, September 28th. Stryker Corporation’s payout ratio is 37.95%.
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SYK has been the subject of a number of recent analyst reports. Piper Jaffray Companies reiterated an “overweight” rating and issued a $148.00 target price on shares of Stryker Corporation in a report on Thursday, August 24th. Needham & Company LLC upgraded shares of Stryker Corporation from an “underperform” rating to a “hold” rating in a report on Friday, August 25th. Cantor Fitzgerald began coverage on shares of Stryker Corporation in a report on Thursday, June 29th. They set a “neutral” rating and a $153.00 price objective on the stock. Morgan Stanley restated an “overweight” rating and set a $160.00 price objective (up previously from $155.00) on shares of Stryker Corporation in a report on Monday, July 10th. Finally, Zacks Investment Research upgraded Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 target price on the stock in a research report on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $145.73.
About Stryker Corporation
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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