Stratos Wealth Partners LTD. raised its stake in shares of Stryker Co. (NYSE:SYK) by 3.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,039 shares of the medical technology company’s stock after buying an additional 449 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Stryker were worth $2,932,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in SYK. Curi Capital purchased a new position in Stryker during the fourth quarter valued at $29,000. RWM Asset Management LLC bought a new stake in shares of Stryker in the 4th quarter worth $33,000. Albion Financial Group UT bought a new stake in shares of Stryker in the 4th quarter worth $34,000. Ossiam increased its holdings in shares of Stryker by 294.9% in the 4th quarter. Ossiam now owns 154 shares of the medical technology company’s stock worth $38,000 after purchasing an additional 115 shares in the last quarter. Finally, Graves Light Private Wealth Management Inc. bought a new stake in shares of Stryker in the 4th quarter worth $41,000. Institutional investors and hedge funds own 71.46% of the company’s stock.
In other Stryker news, CFO Glenn S. Boehnlein sold 2,000 shares of the company’s stock in a transaction on Monday, March 1st. The stock was sold at an average price of $246.01, for a total transaction of $492,020.00. Following the completion of the sale, the chief financial officer now owns 12,321 shares in the company, valued at $3,031,089.21. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP M Kathryn Fink sold 4,000 shares of the company’s stock in a transaction on Thursday, April 8th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by insiders.
Stryker (NYSE:SYK) last announced its quarterly earnings data on Monday, April 26th. The medical technology company reported $1.93 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.99 by ($0.06). The business had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.94 billion. Stryker had a net margin of 12.35% and a return on equity of 20.94%. Stryker’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.84 earnings per share. On average, equities analysts expect that Stryker Co. will post 7.18 earnings per share for the current year.
A number of analysts have commented on the company. Morgan Stanley lifted their target price on Stryker from $265.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, April 28th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their target price on Stryker from $264.00 to $303.00 in a report on Wednesday, April 28th. Deutsche Bank Aktiengesellschaft lifted their price objective on Stryker from $251.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, April 28th. Canaccord Genuity lifted their price objective on Stryker from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, April 28th. Finally, Cowen lifted their price objective on Stryker from $255.00 to $279.00 and gave the stock an “outperform” rating in a report on Wednesday, April 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $261.59.
Stryker Corp. engages in the provision of medical technology products and services. It operates through the following segments: Orthopaedics, MedSurg and Neurotechnology and Spine. The Orthopaedics segment provides reconstructive and trauma implant systems. The MedSurg segment deals with surgical equipment and navigation systems, endoscopy, patient handling and reprocessed medical devices.
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