Baltimore Washington Financial Advisors Inc. boosted its position in shares of Stryker Corp. (NYSE:SYK) by 4.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 65,871 shares of the medical technology company’s stock after buying an additional 2,885 shares during the period. Stryker Corp. makes up about 2.3% of Baltimore Washington Financial Advisors Inc.’s holdings, making the stock its 12th largest position. Baltimore Washington Financial Advisors Inc.’s holdings in Stryker Corp. were worth $7,893,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Carroll Financial Associates Inc. boosted its position in shares of Stryker Corp. by 78.0% in the second quarter. Carroll Financial Associates Inc. now owns 1,086 shares of the medical technology company’s stock worth $130,000 after buying an additional 476 shares during the last quarter. CWM LLC purchased a new position in shares of Stryker Corp. during the second quarter worth approximately $150,000. Lau Associates LLC purchased a new position in shares of Stryker Corp. during the second quarter worth approximately $204,000. Brightworth purchased a new position in shares of Stryker Corp. during the second quarter worth approximately $211,000. Finally, Leavell Investment Management Inc. purchased a new position in shares of Stryker Corp. during the second quarter worth approximately $250,000. Institutional investors own 75.49% of the company’s stock.
Stryker Corp. (NYSE:SYK) traded up 0.61% during trading on Friday, hitting $116.41. 1,196,878 shares of the company’s stock traded hands. Stryker Corp. has a 12 month low of $86.68 and a 12 month high of $123.55. The stock has a market cap of $43.57 billion, a P/E ratio of 27.44 and a beta of 0.71. The company’s 50 day moving average is $114.73 and its 200-day moving average is $113.33.
Stryker Corp. (NYSE:SYK) last released its quarterly earnings results on Thursday, July 21st. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.02. Stryker Corp. had a net margin of 15.33% and a return on equity of 23.61%. The company earned $2.84 billion during the quarter, compared to the consensus estimate of $2.79 billion. On average, analysts predict that Stryker Corp. will post $5.76 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Wednesday, September 28th. Stryker Corp.’s payout ratio is currently 35.85%.
A number of research analysts have recently commented on SYK shares. Canaccord Genuity reiterated a “buy” rating and issued a $130.00 price target on shares of Stryker Corp. in a research note on Sunday, July 24th. Zacks Investment Research raised Stryker Corp. from a “hold” rating to a “buy” rating and set a $130.00 target price for the company in a research report on Tuesday, June 21st. Guggenheim assumed coverage on Stryker Corp. in a research report on Wednesday, June 8th. They set a “buy” rating and a $134.00 target price for the company. Brean Capital reaffirmed a “buy” rating and set a $125.00 target price (up from $121.00) on shares of Stryker Corp. in a research report on Monday, July 25th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $120.00 target price (up from $113.00) on shares of Stryker Corp. in a research report on Monday, July 25th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company. Stryker Corp. presently has an average rating of “Hold” and a consensus target price of $114.91.
In related news, Director Ronda E. Stryker sold 6,000 shares of the stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $116.68, for a total value of $700,080.00. Following the completion of the transaction, the director now directly owns 193,142 shares of the company’s stock, valued at $22,535,808.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ronda E. Stryker sold 18,000 shares of the stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $117.56, for a total transaction of $2,116,080.00. Following the completion of the transaction, the director now directly owns 193,142 shares of the company’s stock, valued at $22,705,773.52. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by corporate insiders.
About Stryker Corp.
Stryker Corporation (Stryker) is a medical technology company. The Company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Company’s Orthopaedics segment products consist of implants used in hip and knee joint replacements and trauma and surgeries. The Company’s MedSurg segment products consist of surgical equipment and surgical navigation systems (Instruments); endoscopic and communications systems (Endoscopy); patient handling and emergency medical equipment (Medical), and reprocessed and remanufactured medical devices (Sustainability), as well as other medical device products used in a range of medical specialties.
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