Fifth Third Bancorp cut its position in Stryker Co. (NYSE:SYK) by 3.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 183,764 shares of the medical technology company’s stock after selling 7,083 shares during the quarter. Fifth Third Bancorp’s holdings in Stryker were worth $32,651,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Atlantic Trust LLC bought a new stake in shares of Stryker in the second quarter valued at $105,000. Centaurus Financial Inc. bought a new stake in shares of Stryker in the second quarter valued at $110,000. NuWave Investment Management LLC raised its stake in shares of Stryker by 3,245.0% in the third quarter. NuWave Investment Management LLC now owns 669 shares of the medical technology company’s stock valued at $119,000 after buying an additional 649 shares during the period. NumerixS Investment Technologies Inc bought a new stake in shares of Stryker in the second quarter valued at $135,000. Finally, SRS Capital Advisors Inc. bought a new stake in shares of Stryker in the third quarter valued at $146,000. Hedge funds and other institutional investors own 74.72% of the company’s stock.
A number of analysts recently issued reports on the company. Cowen set a $195.00 price objective on Stryker and gave the company a “buy” rating in a research note on Friday, November 9th. Barclays assumed coverage on Stryker in a research note on Monday, October 15th. They set an “overweight” rating and a $198.00 price objective on the stock. Zacks Investment Research lowered Stryker from a “buy” rating to a “hold” rating in a research note on Monday, December 3rd. JPMorgan Chase & Co. boosted their price objective on Stryker to $200.00 and gave the company an “overweight” rating in a research note on Thursday, September 13th. Finally, Oppenheimer set a $170.00 price objective on Stryker and gave the company a “hold” rating in a research note on Friday, October 26th. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $182.45.
Shares of NYSE SYK opened at $168.85 on Friday. The stock has a market capitalization of $64.52 billion, a price-to-earnings ratio of 26.02, a price-to-earnings-growth ratio of 2.36 and a beta of 0.66. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.21 and a current ratio of 1.91. Stryker Co. has a twelve month low of $146.80 and a twelve month high of $179.84.
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 analysts’ consensus estimates of $1.68 by $0.01. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.26 billion. Stryker had a return on equity of 28.00% and a net margin of 9.31%. Research analysts forecast that Stryker Co. will post 7.28 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Monday, December 31st will be paid a $0.52 dividend. This is a positive change from Stryker’s previous quarterly dividend of $0.47. This represents a $2.08 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Friday, December 28th. Stryker’s dividend payout ratio is currently 28.97%.
In other Stryker news, VP M Kathryn Fink sold 415 shares of the company’s stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $166.56, for a total value of $69,122.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Glenn S. Boehnlein sold 750 shares of the company’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $178.17, for a total value of $133,627.50. Following the completion of the transaction, the chief financial officer now owns 2,785 shares in the company, valued at $496,203.45. The disclosure for this sale can be found here. 7.40% of the stock is owned by corporate insiders.
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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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