Capital Investment Services of America Inc. grew its position in Stryker Co. (NYSE:SYK) by 0.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 92,679 shares of the medical technology company’s stock after buying an additional 514 shares during the quarter. Stryker accounts for 3.0% of Capital Investment Services of America Inc.’s holdings, making the stock its 9th largest holding. Capital Investment Services of America Inc.’s holdings in Stryker were worth $20,046,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the business. Buckingham Capital Management Inc. lifted its stake in shares of Stryker by 12.3% during the 1st quarter. Buckingham Capital Management Inc. now owns 34,399 shares of the medical technology company’s stock worth $6,794,000 after purchasing an additional 3,769 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Stryker by 20.1% during the 1st quarter. First Trust Advisors LP now owns 298,815 shares of the medical technology company’s stock worth $59,022,000 after purchasing an additional 50,042 shares during the last quarter. Burney Co. purchased a new stake in shares of Stryker during the 1st quarter worth $230,000. Northeast Financial Consultants Inc purchased a new stake in shares of Stryker during the 1st quarter worth $770,000. Finally, Riverhead Capital Management LLC lifted its stake in shares of Stryker by 12.4% during the 1st quarter. Riverhead Capital Management LLC now owns 14,479 shares of the medical technology company’s stock worth $2,860,000 after purchasing an additional 1,598 shares during the last quarter. Institutional investors and hedge funds own 72.95% of the company’s stock.
NYSE:SYK traded up $2.52 during mid-day trading on Friday, hitting $213.81. 934,937 shares of the company’s stock traded hands, compared to its average volume of 1,200,134. The company has a fifty day moving average of $217.04 and a 200 day moving average of $202.89. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 2.07. The company has a market capitalization of $77.77 billion, a P/E ratio of 29.27, a P/E/G ratio of 2.52 and a beta of 0.81. Stryker Co. has a twelve month low of $144.75 and a twelve month high of $223.45.
Stryker (NYSE:SYK) last announced its quarterly earnings data 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 analyst estimates of $3.60 billion. Stryker had a return on equity of 25.98% and a net margin of 24.99%. The company’s revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.76 earnings per share. On average, research analysts expect that Stryker Co. will post 8.21 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Friday, September 27th. Stryker’s dividend payout ratio is presently 28.45%.
A number of equities research analysts recently weighed in on SYK shares. BMO Capital Markets set a $216.00 price objective on Stryker and gave the stock a “hold” rating in a research note on Friday, July 26th. BTIG Research set a $228.00 target price on Stryker and gave the company a “buy” rating in a research report on Thursday, September 5th. Credit Suisse Group upped their target price on Stryker from $232.00 to $237.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Wells Fargo & Co upped their target price on Stryker from $219.00 to $228.00 and gave the company an “outperform” rating in a research report on Tuesday, July 2nd. Finally, ValuEngine lowered Stryker from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $214.89.
In other news, CFO Glenn S. Boehnlein sold 2,700 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $214.16, for a total value of $578,232.00. Following the transaction, the chief financial officer now directly owns 20,633 shares of the company’s stock, valued at $4,418,763.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP M Kathryn Fink sold 28,690 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $220.97, for a total value of $6,339,629.30. The disclosure for this sale can be found here. Insiders sold 51,637 shares of company stock worth $11,240,206 over the last three months. Corporate insiders own 7.20% of the company’s stock.
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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