US Bancorp DE grew its stake in Stryker Co. (NYSE:SYK) by 2.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 154,942 shares of the medical technology company’s stock after purchasing an additional 3,643 shares during the quarter. US Bancorp DE’s holdings in Stryker were worth $24,935,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of SYK. AustralianSuper Pty Ltd bought a new position in Stryker in the 1st quarter worth $133,467,000. Amundi Pioneer Asset Management Inc. bought a new position in Stryker in the 4th quarter worth $49,056,000. Elkfork Partners LLC bought a new position in Stryker in the 4th quarter worth $49,005,000. Lazard Asset Management LLC raised its holdings in Stryker by 15.5% in the 4th quarter. Lazard Asset Management LLC now owns 2,208,379 shares of the medical technology company’s stock worth $341,945,000 after purchasing an additional 296,550 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new position in Stryker in the 4th quarter worth $32,421,000. Institutional investors and hedge funds own 75.98% of the company’s stock.
Several brokerages have commented on SYK. Citigroup upped their price objective on shares of Stryker from $166.00 to $171.00 and gave the stock a “neutral” rating in a report on Tuesday, May 1st. Canaccord Genuity increased their price target on shares of Stryker from $176.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, April 27th. BMO Capital Markets increased their price target on shares of Stryker to $170.00 and gave the stock a “market perform” rating in a research note on Friday, April 27th. They noted that the move was a valuation call. Stifel Nicolaus increased their price target on shares of Stryker from $183.00 to $187.00 and gave the stock a “buy” rating in a research note on Friday, April 27th. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Stryker in a research note on Friday, April 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $170.65.
NYSE:SYK opened at $171.26 on Friday. The stock has a market cap of $64.19 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 2.43 and a beta of 0.70. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 1.08. Stryker Co. has a fifty-two week low of $167.97 and a fifty-two week high of $171.14.
Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, April 26th. The medical technology company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.08. The business had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.20 billion. Stryker had a net margin of 8.00% and a return on equity of 25.65%. Stryker’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the business earned $1.48 EPS. equities research analysts expect that Stryker Co. will post 7.23 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 31st. Shareholders of record on Friday, June 29th will be paid a dividend of $0.47 per share. The ex-dividend date is Thursday, June 28th. This represents a $1.88 dividend on an annualized basis and a yield of 1.10%. Stryker’s dividend payout ratio is currently 28.97%.
In other Stryker news, insider David Floyd sold 55,119 shares of the firm’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $166.58, for a total transaction of $9,181,723.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Yin C. Becker sold 23,221 shares of the firm’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $165.96, for a total transaction of $3,853,757.16. Following the sale, the vice president now owns 10,499 shares of the company’s stock, valued at $1,742,414.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 134,200 shares of company stock valued at $22,151,180. 7.40% of the stock is owned by company insiders.
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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