HighTower Advisors LLC raised its position in shares of Stryker Corporation (NYSE:SYK) by 11.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 89,226 shares of the medical technology company’s stock after buying an additional 8,950 shares during the period. HighTower Advisors LLC’s holdings in Stryker Corporation were worth $10,398,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. LSV Asset Management bought a new stake in shares of Stryker Corporation during the second quarter worth approximately $107,000. Mycio Wealth Partners LLC bought a new stake in shares of Stryker Corporation during the third quarter worth approximately $116,000. Global X Management Co. LLC raised its stake in shares of Stryker Corporation by 235.8% in the second quarter. Global X Management Co. LLC now owns 994 shares of the medical technology company’s stock worth $119,000 after buying an additional 698 shares in the last quarter. Penserra Capital Management LLC raised its stake in shares of Stryker Corporation by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,188 shares of the medical technology company’s stock worth $138,000 after buying an additional 594 shares in the last quarter. Finally, Daiwa SB Investments Ltd. bought a new stake in shares of Stryker Corporation during the third quarter worth approximately $163,000. 74.89% of the stock is currently owned by institutional investors.
Stryker Corporation (NYSE:SYK) traded up 2.81% on Wednesday, reaching $125.32. The company had a trading volume of 941,350 shares. Stryker Corporation has a 12-month low of $88.57 and a 12-month high of $127.23. The stock has a market capitalization of $46.93 billion, a PE ratio of 28.52 and a beta of 0.84. The stock’s 50 day moving average price is $116.91 and its 200-day moving average price is $116.00.
Stryker Corporation (NYSE:SYK) last posted its earnings results on Thursday, October 27th. The medical technology company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.02. Stryker Corporation had a net margin of 15.24% and a return on equity of 23.61%. The business earned $2.83 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the previous year, the firm posted $1.25 EPS. The firm’s revenue was up 17.1% on a year-over-year basis. Equities analysts expect that Stryker Corporation will post $5.78 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Friday, December 30th will be given a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Wednesday, December 28th. This is an increase from Stryker Corporation’s previous quarterly dividend of $0.38. Stryker Corporation’s payout ratio is 38.72%.
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SYK has been the subject of a number of recent research reports. Zacks Investment Research raised Stryker Corporation from a “hold” rating to a “buy” rating and set a $119.00 price objective for the company in a report on Tuesday, November 15th. SunTrust Banks, Inc. initiated coverage on Stryker Corporation in a report on Thursday, October 13th. They set a “buy” rating and a $140.00 price objective for the company. Canaccord Genuity set a $127.00 price objective on Stryker Corporation and gave the stock a “buy” rating in a report on Sunday, October 30th. RBC Capital Markets reaffirmed a “buy” rating and issued a $129.00 target price on shares of Stryker Corporation in a report on Friday, January 6th. Finally, Edward Jones lowered Stryker Corporation from a “buy” rating to a “hold” rating in a report on Thursday, January 5th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $122.95.
In other news, VP Yin C. Becker sold 11,660 shares of the business’s stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $120.22, for a total transaction of $1,401,765.20. Following the completion of the sale, the vice president now owns 28,599 shares of the company’s stock, valued at approximately $3,438,171.78. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 5,194 shares of the business’s stock in a transaction on Wednesday, December 28th. The shares were sold at an average price of $120.60, for a total transaction of $626,396.40. Following the sale, the director now directly owns 193,142 shares of the company’s stock, valued at approximately $23,292,925.20. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by company insiders.
About Stryker Corporation
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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