Global Financial Private Capital LLC reduced its holdings in shares of Stryker Co. (NYSE:SYK) by 7.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,643 shares of the medical technology company’s stock after selling 1,811 shares during the period. Global Financial Private Capital LLC’s holdings in Stryker were worth $4,026,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of SYK. Penserra Capital Management LLC lifted its holdings in Stryker by 76.7% during the 3rd quarter. Penserra Capital Management LLC now owns 5,164 shares of the medical technology company’s stock valued at $916,000 after purchasing an additional 2,241 shares during the last quarter. Vista Capital Partners Inc. bought a new position in Stryker during the 3rd quarter valued at about $1,002,000. Janney Montgomery Scott LLC lifted its holdings in Stryker by 5.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 22,369 shares of the medical technology company’s stock valued at $3,975,000 after purchasing an additional 1,062 shares during the last quarter. Comerica Securities Inc. lifted its holdings in Stryker by 12.3% during the 3rd quarter. Comerica Securities Inc. now owns 3,489 shares of the medical technology company’s stock valued at $622,000 after purchasing an additional 383 shares during the last quarter. Finally, D.B. Root & Company LLC bought a new position in Stryker during the 3rd quarter valued at about $209,000. Institutional investors and hedge funds own 74.71% of the company’s stock.
In other Stryker news, VP M Kathryn Fink sold 415 shares of the business’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $166.56, for a total value of $69,122.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Katherine Ann Owen sold 37,866 shares of the business’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $166.84, for a total transaction of $6,317,563.44. Following the completion of the transaction, the vice president now directly owns 11,367 shares of the company’s stock, valued at $1,896,470.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,031 shares of company stock valued at $6,520,313. Insiders own 7.40% of the company’s stock.
Shares of NYSE SYK opened at $171.25 on Friday. Stryker Co. has a 1-year low of $146.80 and a 1-year high of $179.84. The stock has a market capitalization of $62.39 billion, a price-to-earnings ratio of 26.39, a P/E/G ratio of 2.29 and a beta of 0.64. The company has a quick ratio of 1.21, a current ratio of 1.91 and a debt-to-equity ratio of 0.60.
Stryker (NYSE:SYK) last announced its earnings results on Thursday, October 25th. The medical technology company reported $1.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.68 by $0.01. Stryker had a net margin of 9.31% and a return on equity of 28.00%. The company had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.26 billion. On average, equities research analysts anticipate that Stryker Co. will post 7.28 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Friday, September 28th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Thursday, September 27th. Stryker’s dividend payout ratio is presently 28.97%.
Several brokerages recently issued reports on SYK. Citigroup lifted their price target on shares of Stryker from $171.00 to $173.00 and gave the company a “neutral” rating in a report on Wednesday, July 25th. Cowen set a $195.00 price target on shares of Stryker and gave the company a “buy” rating in a report on Friday. Needham & Company LLC reissued a “hold” rating on shares of Stryker in a report on Friday. Oppenheimer set a $170.00 price target on shares of Stryker and gave the company a “hold” rating in a report on Friday. Finally, Robert W. Baird lifted their price target on shares of Stryker from $187.00 to $192.00 and gave the company an “outperform” rating in a report on Wednesday, July 25th. Seven equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $181.81.
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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