Candriam Luxembourg S.C.A. reduced its position in Stryker Corp. (NYSE:SYK) by 44.1% during the second quarter, Holdings Channel reports. The fund owned 47,204 shares of the medical technology company’s stock after selling 37,224 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Stryker Corp. were worth $5,657,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Carroll Financial Associates Inc. raised 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 during the last quarter. CWM LLC bought a new position in Stryker Corp. during the second quarter worth approximately $150,000. Lau Associates LLC bought a new position in Stryker Corp. during the second quarter worth approximately $204,000. Brightworth bought a new position in Stryker Corp. during the second quarter worth approximately $211,000. Finally, Leavell Investment Management Inc. bought a new position in Stryker Corp. during the second quarter worth approximately $250,000. 75.49% of the stock is owned by hedge funds and other institutional investors.
Stryker Corp. (NYSE:SYK) traded down 0.09% during mid-day trading on Wednesday, reaching $117.31. The company’s stock had a trading volume of 918,566 shares. The firm’s 50 day moving average is $114.72 and its 200-day moving average is $113.32. Stryker Corp. has a one year low of $86.68 and a one year high of $123.55. The stock has a market cap of $43.91 billion, a P/E ratio of 27.65 and a beta of 0.71.
Stryker Corp. (NYSE:SYK) last posted its quarterly earnings data on Thursday, July 21st. The medical technology company reported $1.39 earnings per share 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 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 earnings per share 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 1.30%. The ex-dividend date of this dividend is Wednesday, September 28th. Stryker Corp.’s dividend payout ratio (DPR) is presently 35.85%.
A number of equities analysts have recently commented on the company. 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 reissued an “outperform” rating and set a $124.00 price objective (up previously from $110.00) on shares of Stryker Corp. in a research note on Tuesday, July 19th. JPMorgan Chase & Co. reissued a “hold” rating and set a $119.00 price objective on shares of Stryker Corp. in a research note on Friday, July 22nd. Canaccord Genuity reissued a “buy” rating and set a $130.00 price objective on shares of Stryker Corp. in a research note on Sunday, July 24th. Finally, Brean Capital reissued a “buy” rating and set a $125.00 price objective (up previously from $121.00) on shares of Stryker Corp. in a research note on Monday, July 25th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company’s stock. Stryker Corp. has an average rating of “Hold” and a consensus price target of $114.91.
In other news, Director Ronda E. Stryker sold 18,000 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $117.56, for a total transaction of $2,116,080.00. Following the transaction, the director now directly owns 193,142 shares of the company’s stock, valued at $22,705,773.52. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $110.81, for a total transaction of $664,860.00. Following the transaction, the director now directly owns 193,142 shares in the company, valued at $21,402,065.02. The disclosure for this sale can be found here. Insiders own 7.80% of the company’s stock.
Stryker Corp. Company Profile
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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