Kovack Advisors Inc. bought a new position in shares of Stryker Co. (NYSE:SYK) in the third quarter, HoldingsChannel reports. The firm bought 1,220 shares of the medical technology company’s stock, valued at approximately $217,000.
A number of other institutional investors also recently bought and sold shares of the business. CapWealth Advisors LLC lifted its holdings in Stryker by 0.8% during the second quarter. CapWealth Advisors LLC now owns 40,753 shares of the medical technology company’s stock worth $6,882,000 after buying an additional 310 shares during the period. Benedict Financial Advisors Inc. lifted its holdings in Stryker by 7.2% during the second quarter. Benedict Financial Advisors Inc. now owns 4,681 shares of the medical technology company’s stock worth $790,000 after buying an additional 313 shares during the period. Janney Montgomery Scott LLC lifted its holdings in Stryker by 1.5% during the second quarter. Janney Montgomery Scott LLC now owns 21,307 shares of the medical technology company’s stock worth $3,598,000 after buying an additional 316 shares during the period. Associated Banc Corp lifted its holdings in Stryker by 12.2% during the second quarter. Associated Banc Corp now owns 2,994 shares of the medical technology company’s stock worth $506,000 after buying an additional 325 shares during the period. Finally, Linscomb & Williams Inc. lifted its holdings in Stryker by 3.3% during the second quarter. Linscomb & Williams Inc. now owns 10,486 shares of the medical technology company’s stock worth $1,771,000 after buying an additional 333 shares during the period. Institutional investors own 75.11% of the company’s stock.
NYSE SYK opened at $171.04 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.15 and a current ratio of 1.83. Stryker Co. has a 1 year low of $146.10 and a 1 year high of $179.84. The firm has a market capitalization of $66.45 billion, a P/E ratio of 26.35, a PEG ratio of 2.49 and a beta of 0.59.
Stryker (NYSE:SYK) last released its earnings results on Tuesday, July 24th. The medical technology company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.03. Stryker had a return on equity of 26.93% and a net margin of 8.28%. The firm had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same period in the prior year, the firm earned $1.53 EPS. The firm’s revenue was up 10.3% on a year-over-year basis. On average, analysts expect that Stryker Co. will post 7.25 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Investors of record on Friday, September 28th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Thursday, September 27th. Stryker’s payout ratio is 28.97%.
In related news, CFO Glenn S. Boehnlein sold 750 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $178.17, for a total value of $133,627.50. Following the transaction, the chief financial officer now directly owns 2,785 shares of the company’s stock, valued at approximately $496,203.45. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Katherine Ann Owen sold 37,866 shares of the company’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $166.84, for a total value of $6,317,563.44. Following the completion of the transaction, the vice president now directly owns 11,367 shares in the company, valued at $1,896,470.28. The disclosure for this sale can be found here. 7.30% of the stock is owned by corporate insiders.
A number of analysts have weighed in on SYK shares. JPMorgan Chase & Co. upped their target price on Stryker to $200.00 and gave the stock an “overweight” rating in a report on Thursday, September 13th. Zacks Investment Research downgraded Stryker from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Robert W. Baird upped their price target on Stryker from $187.00 to $192.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Stryker in a research report on Tuesday, September 11th. Finally, BTIG Research reaffirmed a “buy” rating and set a $187.00 price target on shares of Stryker in a research report on Wednesday, September 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Stryker has a consensus rating of “Buy” and an average target price of $178.33.
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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