Lyell Wealth Management LP purchased a new position in shares of Stryker Co. (NYSE:SYK) during the first quarter, Holdings Channel reports. The institutional investor purchased 14,045 shares of the medical technology company’s stock, valued at approximately $2,781,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. BlackRock Inc. boosted its stake in Stryker by 4.1% during the fourth quarter. BlackRock Inc. now owns 24,882,912 shares of the medical technology company’s stock worth $3,900,399,000 after buying an additional 975,678 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Stryker by 8,029.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,075,473 shares of the medical technology company’s stock worth $39,000 after buying an additional 6,000,739 shares in the last quarter. FMR LLC boosted its stake in Stryker by 6.3% during the fourth quarter. FMR LLC now owns 5,934,622 shares of the medical technology company’s stock worth $930,251,000 after buying an additional 353,028 shares in the last quarter. Northern Trust Corp boosted its stake in Stryker by 3.6% during the fourth quarter. Northern Trust Corp now owns 3,857,399 shares of the medical technology company’s stock worth $604,647,000 after buying an additional 132,857 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Stryker by 6.5% during the fourth quarter. Geode Capital Management LLC now owns 3,665,205 shares of the medical technology company’s stock valued at $573,387,000 after acquiring an additional 224,785 shares during the period. Hedge funds and other institutional investors own 74.71% of the company’s stock.
Stryker stock opened at $184.18 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.12 and a quick ratio of 1.30. Stryker Co. has a 12-month low of $144.75 and a 12-month high of $199.85. The stock has a market capitalization of $68.73 billion, a P/E ratio of 25.20, a price-to-earnings-growth ratio of 2.24 and a beta of 0.84.
Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, April 23rd. The medical technology company reported $1.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.04. Stryker had a return on equity of 26.72% and a net margin of 25.38%. The business had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same period in the previous year, the business posted $1.68 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, sell-side analysts predict that Stryker Co. will post 8.15 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.13%. Stryker’s dividend payout ratio is 28.45%.
A number of research analysts have issued reports on SYK shares. SunTrust Banks lifted their price objective on Stryker to $205.00 and gave the company a “positive” rating in a report on Monday, February 4th. Royal Bank of Canada lifted their price objective on Stryker from $184.00 to $204.00 and gave the company an “outperform” rating in a report on Monday, March 11th. Credit Suisse Group raised Stryker to an “outperform” rating in a report on Thursday, January 31st. Wells Fargo & Co lifted their price objective on Stryker from $214.00 to $219.00 and gave the company an “outperform” rating in a report on Monday, April 1st. Finally, Piper Jaffray Companies reissued an “overweight” rating and set a $205.00 price objective on shares of Stryker in a report on Friday, March 1st. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Stryker currently has a consensus rating of “Buy” and a consensus target price of $196.89.
In related news, VP Yin C. Becker sold 15,240 shares of Stryker stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $198.03, for a total value of $3,017,977.20. Following the completion of the transaction, the vice president now directly owns 16,577 shares of the company’s stock, valued at $3,282,743.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Glenn S. Boehnlein sold 2,700 shares of Stryker stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $188.21, for a total value of $508,167.00. Following the completion of the transaction, the chief financial officer now directly owns 23,333 shares of the company’s stock, valued at $4,391,503.93. The disclosure for this sale can be found here. Insiders sold 111,550 shares of company stock valued at $21,374,171 over the last ninety days. 7.20% of the stock is currently owned by company 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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