Clean Yield Group decreased its position in Stryker Corp. (NYSE:SYK) by 8.5% during the second quarter, Holdings Channel reports. The fund owned 13,307 shares of the medical technology company’s stock after selling 1,230 shares during the period. Clean Yield Group’s holdings in Stryker Corp. were worth $1,595,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Carroll Financial Associates Inc. increased 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 period. CWM LLC acquired a new position in shares of Stryker Corp. during the second quarter worth about $150,000. Lau Associates LLC acquired a new position in shares of Stryker Corp. during the second quarter worth about $204,000. Brightworth acquired a new position in shares of Stryker Corp. during the second quarter worth about $211,000. Finally, Leavell Investment Management Inc. acquired a new position in shares of Stryker Corp. during the second quarter worth about $250,000. Hedge funds and other institutional investors own 75.49% of the company’s stock.
Stryker Corp. (NYSE:SYK) traded down 1.37% during mid-day trading on Thursday, hitting $115.70. The company had a trading volume of 662,057 shares. The company’s 50 day moving average price is $114.72 and its 200-day moving average price is $113.32. Stryker Corp. has a one year low of $86.68 and a one year high of $123.55. The company has a market cap of $43.31 billion, a PE ratio of 27.27 and a beta of 0.71.
Stryker Corp. (NYSE:SYK) last announced its earnings results on Thursday, July 21st. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.02. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.79 billion. Stryker Corp. had a return on equity of 23.61% and a net margin of 15.33%. Equities research analysts anticipate that Stryker Corp. will post $5.76 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Wednesday, September 28th. Stryker Corp.’s dividend payout ratio (DPR) is presently 35.85%.
A number of equities analysts recently issued reports on SYK shares. Canaccord Genuity reaffirmed a “buy” rating and issued a $130.00 price target on shares of Stryker Corp. in a report on Sunday, July 24th. Zacks Investment Research raised Stryker Corp. from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a report on Tuesday, June 21st. Guggenheim started coverage on Stryker Corp. in a report on Wednesday, June 8th. They issued a “buy” rating and a $134.00 price objective for the company. Brean Capital reissued a “buy” rating and issued a $125.00 price objective (up from $121.00) on shares of Stryker Corp. in a report on Monday, July 25th. Finally, Jefferies Group reissued a “hold” rating and issued a $120.00 price objective (up from $113.00) on shares of Stryker Corp. in a report on Monday, July 25th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $114.91.
In other news, Director Ronda E. Stryker sold 12,000 shares of the business’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $120.64, for a total transaction of $1,447,680.00. Following the sale, the director now directly owns 193,142 shares of the company’s stock, valued at $23,300,650.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 6,000 shares of the business’s stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $122.75, for a total value of $736,500.00. Following the sale, the director now directly owns 193,142 shares in the company, valued at $23,708,180.50. The disclosure for this sale can be found here. Insiders own 7.80% of the company’s stock.
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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