Concert Wealth Management Inc. boosted its position in shares of Stryker Corp. (NYSE:SYK) by 29.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 9,884 shares of the medical technology company’s stock after buying an additional 2,225 shares during the period. Concert Wealth Management Inc.’s holdings in Stryker Corp. were worth $1,182,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in SYK. Meiji Yasuda Asset Management Co Ltd. boosted its stake in Stryker Corp. by 59.5% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,276 shares of the medical technology company’s stock worth $673,000 after buying an additional 2,340 shares during the last quarter. Aviva PLC boosted its stake in Stryker Corp. by 1.4% in the first quarter. Aviva PLC now owns 176,356 shares of the medical technology company’s stock worth $18,921,000 after buying an additional 2,400 shares during the last quarter. M&T Bank Corp boosted its stake in Stryker Corp. by 3.9% in the first quarter. M&T Bank Corp now owns 223,485 shares of the medical technology company’s stock worth $23,979,000 after buying an additional 8,326 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new stake in Stryker Corp. during the first quarter worth $3,489,000. Finally, Advisor Partners LLC boosted its stake in Stryker Corp. by 52.3% in the first quarter. Advisor Partners LLC now owns 3,700 shares of the medical technology company’s stock worth $397,000 after buying an additional 1,271 shares during the last quarter. 75.49% of the stock is currently owned by institutional investors and hedge funds.
Stryker Corp. (NYSE:SYK) traded up 1.01% during midday trading on Monday, hitting $117.49. 310,202 shares of the stock traded hands. Stryker Corp. has a 52 week low of $86.68 and a 52 week high of $123.55. The stock’s 50-day moving average price is $115.07 and its 200-day moving average price is $113.84. The stock has a market capitalization of $43.98 billion, a P/E ratio of 27.70 and a beta of 0.72.
Stryker Corp. (NYSE:SYK) last announced its quarterly 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 business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.79 billion. Stryker Corp. had a net margin of 15.33% and a return on equity of 23.61%. Equities research analysts expect that Stryker Corp. will post $5.76 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Wednesday, September 28th. Stryker Corp.’s dividend payout ratio (DPR) is presently 35.85%.
SYK has been the topic of a number of research reports. Canaccord Genuity reaffirmed a “buy” rating and set a $130.00 target price on shares of Stryker Corp. in a research note on Sunday, July 24th. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $124.00 target price (up previously from $110.00) on shares of Stryker Corp. in a research note on Tuesday, July 19th. Zacks Investment Research cut shares of Stryker Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, September 27th. Brean Capital reaffirmed a “buy” rating and set a $125.00 target price (up previously from $121.00) on shares of Stryker Corp. in a research note on Monday, July 25th. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $119.00 target price on shares of Stryker Corp. in a research note on Friday, July 22nd. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $114.91.
In other news, Director Howard E. Cox, Jr. sold 9,448 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $117.02, for a total value of $1,105,604.96. Following the completion of the sale, the director now directly owns 554,732 shares of the company’s stock, valued at approximately $64,914,738.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ronda E. Stryker sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $116.34, for a total transaction of $1,396,080.00. Following the completion of the sale, the director now directly owns 193,142 shares of the company’s stock, valued at $22,470,140.28. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by company 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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