Essex Financial Services Inc. cut its position in shares of Stryker Corp. (NYSE:SYK) by 2.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,938 shares of the medical technology company’s stock after selling 250 shares during the period. Essex Financial Services Inc.’s holdings in Stryker Corp. were worth $1,311,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Carroll Financial Associates Inc. boosted its position in 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 in the last quarter. CWM LLC acquired a new position in Stryker Corp. during the second quarter worth about $150,000. Lau Associates LLC acquired a new position in Stryker Corp. during the second quarter worth about $204,000. Brightworth acquired a new position in Stryker Corp. during the second quarter worth about $211,000. Finally, Leavell Investment Management Inc. acquired a new position in Stryker Corp. during the second quarter worth about $250,000. 75.49% of the stock is owned by institutional investors and hedge funds.
Stryker Corp. (NYSE:SYK) traded up 0.06% during trading on Friday, reaching $113.65. The company’s stock had a trading volume of 1,253,605 shares. 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 $42.54 billion, a PE ratio of 26.79 and a beta of 0.72. The company’s 50-day moving average is $115.21 and its 200-day moving average is $114.05.
Stryker Corp. (NYSE:SYK) last announced its quarterly earnings results on Thursday, July 21st. The medical technology company reported $1.39 EPS for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.02. Stryker Corp. had a return on equity of 23.61% and a net margin of 15.33%. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.79 billion. Equities 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. Stockholders of record on Friday, September 30th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Wednesday, September 28th. Stryker Corp.’s payout ratio is 35.85%.
A number of research firms recently issued reports on SYK. Jefferies Group reaffirmed a “hold” rating and issued a $120.00 price target (up from $113.00) on shares of Stryker Corp. in a report on Monday, July 25th. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $124.00 price target (up from $110.00) on shares of Stryker Corp. in a report on Tuesday, July 19th. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $119.00 price target on shares of Stryker Corp. in a report on Friday, July 22nd. Brean Capital reaffirmed a “buy” rating and issued a $125.00 price target (up from $121.00) on shares of Stryker Corp. in a report on Monday, July 25th. Finally, 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. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $117.91.
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 stock was sold at an average price of $117.02, for a total transaction of $1,105,604.96. Following the completion of the transaction, the director now directly owns 554,732 shares in the company, valued at $64,914,738.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Yin C. Becker sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, October 12th. The stock was sold at an average price of $114.03, for a total value of $1,368,360.00. Following the transaction, the vice president now owns 28,939 shares of the company’s stock, valued at $3,299,914.17. 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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