Covington Capital Management trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,025 shares of the medical technology company’s stock after selling 2,749 shares during the quarter. Stryker makes up approximately 1.2% of Covington Capital Management’s investment portfolio, making the stock its 18th largest position. Covington Capital Management’s holdings in Stryker were worth $19,669,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Truewealth LLC acquired a new position in shares of Stryker during the 4th quarter worth approximately $110,000. Sawyer & Company Inc acquired a new position in shares of Stryker during the 4th quarter worth approximately $125,000. Sit Investment Associates Inc. raised its stake in shares of Stryker by 114.3% during the 4th quarter. Sit Investment Associates Inc. now owns 825 shares of the medical technology company’s stock worth $128,000 after buying an additional 440 shares during the period. Virtue Capital Management LLC acquired a new position in shares of Stryker during the 4th quarter worth approximately $133,000. Finally, Oak Point Wealth Management acquired a new position in shares of Stryker during the 4th quarter worth approximately $145,000. 75.71% of the stock is owned by institutional investors and hedge funds.
In other Stryker news, Director Howard E. Cox, Jr. sold 7,400 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $164.09, for a total value of $1,214,266.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP William E. Berry, Jr. sold 1,306 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $164.42, for a total value of $214,732.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,611 shares of company stock valued at $7,178,719. 7.40% of the stock is owned by company insiders.
Shares of Stryker Co. (NYSE:SYK) traded down $0.20 during trading hours on Wednesday, reaching $166.91. The company’s stock had a trading volume of 53,508 shares, compared to its average volume of 1,360,802. The company has a current ratio of 2.29, a quick ratio of 1.59 and a debt-to-equity ratio of 0.66. The stock has a market cap of $62,898.64, a PE ratio of 62.35, a P/E/G ratio of 2.41 and a beta of 0.70. Stryker Co. has a 12 month low of $129.82 and a 12 month high of $170.00.
Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 30th. The medical technology company reported $1.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.95 by $0.01. The company had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.42 billion. Stryker had a return on equity of 24.56% and a net margin of 8.20%. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.78 EPS. analysts predict that Stryker Co. will post 7.12 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Thursday, March 29th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 1.13%. The ex-dividend date is Wednesday, March 28th. Stryker’s payout ratio is currently 70.15%.
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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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