BTIM Corp. increased its position in shares of Stryker Co. (NYSE:SYK) by 2.4% in the 1st quarter, HoldingsChannel reports. The firm owned 398,155 shares of the medical technology company’s stock after purchasing an additional 9,279 shares during the period. Stryker accounts for approximately 1.1% of BTIM Corp.’s portfolio, making the stock its 21st largest position. BTIM Corp.’s holdings in Stryker were worth $78,643,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Welch Group LLC boosted its stake in Stryker by 1.5% during the first quarter. Welch Group LLC now owns 3,774 shares of the medical technology company’s stock worth $745,000 after buying an additional 54 shares during the last quarter. Westside Investment Management Inc. boosted its stake in Stryker by 38.7% during the fourth quarter. Westside Investment Management Inc. now owns 233 shares of the medical technology company’s stock worth $37,000 after buying an additional 65 shares during the last quarter. First Hawaiian Bank boosted its stake in Stryker by 0.5% during the first quarter. First Hawaiian Bank now owns 12,570 shares of the medical technology company’s stock worth $2,483,000 after buying an additional 67 shares during the last quarter. DAVENPORT & Co LLC boosted its stake in Stryker by 1.6% during the fourth quarter. DAVENPORT & Co LLC now owns 4,340 shares of the medical technology company’s stock worth $680,000 after buying an additional 70 shares during the last quarter. Finally, Wedbush Securities Inc. boosted its stake in Stryker by 1.6% during the fourth quarter. Wedbush Securities Inc. now owns 4,497 shares of the medical technology company’s stock worth $705,000 after buying an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 74.61% of the company’s stock.
In other news, VP M Kathryn Fink sold 180 shares of the company’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $176.77, for a total value of $31,818.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Michael Damon Hutchinson sold 15,995 shares of the company’s stock in a transaction on Friday, February 8th. The shares were sold at an average price of $180.49, for a total value of $2,886,937.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 125,789 shares of company stock worth $23,825,554. Corporate insiders own 7.20% of the company’s stock.
Shares of Stryker stock opened at $189.04 on Wednesday. Stryker Co. has a 52 week low of $144.75 and a 52 week high of $199.85. The firm has a market capitalization of $71.89 billion, a PE ratio of 25.86, a price-to-earnings-growth ratio of 2.37 and a beta of 0.88. The company has a current ratio of 2.02, a quick ratio of 1.41 and a debt-to-equity ratio of 0.72.
Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 29th. The medical technology company reported $2.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.15 by $0.03. Stryker had a return on equity of 27.60% and a net margin of 26.12%. The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.73 billion. Equities analysts forecast that Stryker Co. will post 8.13 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Thursday, March 28th. Stryker’s dividend payout ratio (DPR) is presently 28.45%.
SYK has been the topic of a number of recent research reports. Zacks Investment Research reissued a “hold” rating and set a $162.00 price objective on shares of Stryker in a research note on Monday, December 31st. Evercore ISI raised Stryker from an “in-line” rating to an “outperform” rating and set a $156.75 price objective on the stock in a research note on Wednesday, January 2nd. Citigroup lowered their price objective on Stryker from $174.00 to $169.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 2nd. Morgan Stanley lowered their price objective on Stryker from $212.00 to $197.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 2nd. Finally, Deutsche Bank initiated coverage on Stryker in a research note on Wednesday, January 2nd. They set a “buy” rating and a $179.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $192.13.
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Stryker Company Profile
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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