IFM Investors Pty Ltd bought a new position in shares of Stryker Corporation (NYSE:SYK) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,339 shares of the medical technology company’s stock, valued at approximately $1,326,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Acrospire Investment Management LLC acquired a new position in Stryker in the second quarter valued at approximately $111,000. Motco boosted its holdings in shares of Stryker by 50.7% in the second quarter. Motco now owns 826 shares of the medical technology company’s stock valued at $115,000 after acquiring an additional 278 shares during the period. San Francisco Sentry Investment Group CA boosted its holdings in shares of Stryker by 47.8% in the third quarter. San Francisco Sentry Investment Group CA now owns 1,005 shares of the medical technology company’s stock valued at $143,000 after acquiring an additional 325 shares during the period. Bruderman Asset Management LLC acquired a new stake in shares of Stryker in the second quarter valued at approximately $150,000. Finally, James Investment Research Inc. acquired a new stake in shares of Stryker in the second quarter valued at approximately $155,000. 74.97% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on the company. BMO Capital Markets raised Stryker to a “market perform” rating and set a $163.00 price objective for the company in a report on Tuesday. Needham & Company LLC reissued a “hold” rating on shares of Stryker in a report on Thursday, December 7th. ValuEngine downgraded Stryker from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Robert W. Baird raised Stryker from a “neutral” rating to an “outperform” rating in a report on Friday, November 24th. Finally, SunTrust Banks reissued a “buy” rating and issued a $161.00 price objective on shares of Stryker in a report on Friday, November 17th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $153.19.
Shares of Stryker Corporation (SYK) traded up $0.96 during midday trading on Wednesday, hitting $153.67. The company had a trading volume of 1,078,000 shares, compared to its average volume of 1,177,003. The company has a current ratio of 2.37, a quick ratio of 1.61 and a debt-to-equity ratio of 0.63. Stryker Corporation has a 52-week low of $116.27 and a 52-week high of $160.62. The firm has a market capitalization of $57,149.83, a P/E ratio of 24.20, a PEG ratio of 2.40 and a beta of 0.78.
Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.02. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.97 billion. Stryker had a return on equity of 24.11% and a net margin of 14.67%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the company earned $1.39 earnings per share. research analysts expect that Stryker Corporation will post 6.47 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be given a $0.47 dividend. This is a boost from Stryker’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.88 annualized dividend and a yield of 1.22%. Stryker’s dividend payout ratio is presently 36.32%.
In other Stryker news, insider Lonny J. Carpenter sold 5,000 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $155.34, for a total value of $776,700.00. Following the completion of the transaction, the insider now owns 83,207 shares in the company, valued at $12,925,375.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 7.40% of the company’s stock.
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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