HL Financial Services LLC reduced its stake in Stryker Corp. (NYSE:SYK) by 2.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,750 shares of the medical technology company’s stock after selling 501 shares during the period. HL Financial Services LLC’s holdings in Stryker Corp. were worth $2,007,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Carroll Financial Associates Inc. increased its stake 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 valued at $130,000 after buying an additional 476 shares during the period. CWM LLC bought a new stake in shares of Stryker Corp. during the second quarter valued at about $150,000. Lau Associates LLC bought a new stake in shares of Stryker Corp. during the second quarter valued at about $204,000. Leavell Investment Management Inc. bought a new stake in shares of Stryker Corp. during the second quarter valued at about $250,000. Finally, Bayesian Capital Management LP bought a new stake in shares of Stryker Corp. during the first quarter valued at about $264,000. 75.49% of the stock is currently owned by institutional investors and hedge funds.
Stryker Corp. (NYSE:SYK) traded up 1.72% during mid-day trading on Thursday, reaching $118.44. The company had a trading volume of 1,965,328 shares. The stock has a market cap of $44.33 billion, a PE ratio of 27.92 and a beta of 0.71. Stryker Corp. has a 12 month low of $86.68 and a 12 month high of $123.55. The firm’s 50-day moving average price is $114.46 and its 200-day moving average price is $112.85.
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, beating the 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. Equities research analysts forecast 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 issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Wednesday, September 28th. Stryker Corp.’s dividend payout ratio (DPR) is 35.85%.
Several brokerages recently issued reports on SYK. Canaccord Genuity reissued a “buy” rating and issued a $130.00 price target on shares of Stryker Corp. in a report on Sunday, July 24th. 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. Piper Jaffray Cos. lifted their target price on Stryker Corp. from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, July 22nd. 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. Finally, Jefferies Group reaffirmed a “hold” rating and set a $120.00 target price (up previously from $113.00) on shares of Stryker Corp. in a research note on Monday, July 25th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $114.91.
In related news, Director Howard E. Cox, Jr. sold 9,448 shares of the company’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 owns 554,732 shares of the company’s stock, valued at $64,914,738.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 12,000 shares of the company’s stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $116.09, for a total transaction of $1,393,080.00. Following the completion of the sale, the director now directly owns 193,142 shares of the company’s stock, valued at approximately $22,421,854.78. 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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