Fishman Jay A Ltd. MI raised its position in shares of Stryker Co. (NYSE:SYK) by 8.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,570 shares of the medical technology company’s stock after buying an additional 5,110 shares during the quarter. Stryker comprises 1.9% of Fishman Jay A Ltd. MI’s portfolio, making the stock its 16th biggest holding. Fishman Jay A Ltd. MI’s holdings in Stryker were worth $10,230,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYK. AustralianSuper Pty Ltd purchased a new position in Stryker during the 1st quarter valued at approximately $133,467,000. Amundi Pioneer Asset Management Inc. purchased a new position in Stryker during the 4th quarter valued at approximately $49,056,000. Elkfork Partners LLC purchased a new position in Stryker during the 4th quarter valued at approximately $49,005,000. Lazard Asset Management LLC grew its holdings in Stryker by 15.5% during the 4th quarter. Lazard Asset Management LLC now owns 2,208,379 shares of the medical technology company’s stock valued at $341,945,000 after buying an additional 296,550 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new position in Stryker during the 4th quarter valued at approximately $32,421,000. Institutional investors and hedge funds own 75.98% of the company’s stock.
Shares of SYK stock opened at $169.15 on Tuesday. Stryker Co. has a 52-week low of $168.39 and a 52-week high of $169.79. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 1.08. The company has a market cap of $63.34 billion, a P/E ratio of 25.33, a price-to-earnings-growth ratio of 2.40 and a beta of 0.70.
Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, April 26th. The medical technology company reported $1.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.60 by $0.08. Stryker had a return on equity of 25.65% and a net margin of 8.00%. The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same period last year, the company earned $1.48 EPS. Stryker’s quarterly revenue was up 9.7% compared to the same quarter last year. research analysts expect that Stryker Co. will post 7.23 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 31st. Investors of record on Friday, June 29th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Thursday, June 28th. Stryker’s dividend payout ratio is currently 28.97%.
A number of equities analysts have recently commented on SYK shares. ValuEngine upgraded Stryker from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. SunTrust Banks reiterated a “buy” rating and issued a $179.00 target price (up previously from $161.00) on shares of Stryker in a report on Friday, January 26th. Guggenheim reiterated a “buy” rating on shares of Stryker in a report on Wednesday, January 31st. Piper Jaffray reiterated a “buy” rating and issued a $170.00 target price on shares of Stryker in a report on Wednesday, January 31st. Finally, Stifel Nicolaus lifted their target price on Stryker from $183.00 to $187.00 and gave the stock a “buy” rating in a report on Friday, April 27th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $168.67.
In other Stryker news, VP Yin C. Becker sold 23,221 shares of Stryker stock in a transaction on Friday, March 9th. The stock was sold at an average price of $165.96, for a total transaction of $3,853,757.16. Following the completion of the sale, the vice president now directly owns 10,499 shares of the company’s stock, valued at approximately $1,742,414.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David Floyd sold 55,119 shares of Stryker stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $166.58, for a total value of $9,181,723.02. The disclosure for this sale can be found here. Insiders have sold a total of 134,200 shares of company stock valued at $22,151,180 over the last three months. 7.30% of the stock is owned by corporate insiders.
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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