Tdam USA Inc. lowered its stake in shares of Stryker Co. (NYSE:SYK) by 8.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,906 shares of the medical technology company’s stock after selling 1,150 shares during the quarter. Tdam USA Inc.’s holdings in Stryker were worth $2,653,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Farmers National Bank bought a new position in Stryker during the first quarter worth about $25,000. Cable Hill Partners LLC bought a new position in Stryker during the first quarter worth about $30,000. RPG Investment Advisory LLC boosted its position in Stryker by 160.0% during the first quarter. RPG Investment Advisory LLC now owns 156 shares of the medical technology company’s stock worth $31,000 after purchasing an additional 96 shares during the period. Horan Capital Advisors LLC. bought a new position in Stryker during the first quarter worth about $40,000. Finally, Webster Bank N. A. boosted its position in Stryker by 300.0% during the second quarter. Webster Bank N. A. now owns 200 shares of the medical technology company’s stock worth $41,000 after purchasing an additional 150 shares during the period. Institutional investors own 73.48% of the company’s stock.
A number of equities analysts have weighed in on the stock. Barclays set a $226.00 target price on shares of Stryker and gave the stock a “buy” rating in a research report on Friday, July 26th. Oppenheimer increased their target price on shares of Stryker from $183.00 to $192.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. BMO Capital Markets set a $216.00 price objective on shares of Stryker and gave the company a “hold” rating in a research report on Friday, July 26th. Raymond James set a $240.00 price objective on shares of Stryker and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Credit Suisse Group raised their price objective on shares of Stryker from $232.00 to $237.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $214.89.
SYK traded down $6.07 on Wednesday, reaching $213.04. The company had a trading volume of 27,057 shares, compared to its average volume of 1,243,368. The business has a 50 day moving average of $210.04. The stock has a market capitalization of $81.66 billion, a P/E ratio of 29.35, a price-to-earnings-growth ratio of 2.66 and a beta of 0.85. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 2.07. Stryker Co. has a 52-week low of $144.75 and a 52-week high of $222.59.
Stryker (NYSE:SYK) last announced its earnings results on Thursday, July 25th. The medical technology company reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.05. The business had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.60 billion. Stryker had a net margin of 24.99% and a return on equity of 25.98%. Stryker’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the firm posted $1.76 earnings per share. On average, equities analysts expect that Stryker Co. will post 8.2 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Friday, September 27th. Stryker’s dividend payout ratio is currently 28.45%.
In related news, insider Timothy J. Scannell sold 4,666 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $186.71, for a total value of $871,188.86. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Allan C. Golston sold 3,399 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $209.84, for a total transaction of $713,246.16. Following the completion of the sale, the director now directly owns 13,762 shares in the company, valued at $2,887,818.08. The disclosure for this sale can be found here. Insiders sold 20,097 shares of company stock worth $4,045,678 over the last ninety days. 7.20% of the stock is currently owned by insiders.
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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