Horizon Investments LLC raised its stake in shares of Stryker Co. (NYSE:SYK) by 22.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 17,200 shares of the medical technology company’s stock after acquiring an additional 3,146 shares during the period. Horizon Investments LLC’s holdings in Stryker were worth $3,398,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Weiss Asset Management LP purchased a new stake in Stryker during the 1st quarter valued at approximately $211,000. M Holdings Securities Inc. boosted its position in shares of Stryker by 0.7% during the 1st quarter. M Holdings Securities Inc. now owns 8,673 shares of the medical technology company’s stock valued at $1,713,000 after acquiring an additional 63 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Stryker by 385.5% during the 1st quarter. Nordea Investment Management AB now owns 99,773 shares of the medical technology company’s stock valued at $19,706,000 after acquiring an additional 79,224 shares during the last quarter. Advisory Services Network LLC boosted its position in shares of Stryker by 2.9% during the 1st quarter. Advisory Services Network LLC now owns 15,004 shares of the medical technology company’s stock valued at $2,963,000 after acquiring an additional 423 shares during the last quarter. Finally, Holderness Investments Co. boosted its position in shares of Stryker by 1.9% during the 1st quarter. Holderness Investments Co. now owns 3,733 shares of the medical technology company’s stock valued at $737,000 after acquiring an additional 71 shares during the last quarter. 73.58% of the stock is owned by institutional investors and hedge funds.
SYK stock traded down $0.14 during midday trading on Monday, reaching $195.33. The company’s stock had a trading volume of 1,647 shares, compared to its average volume of 968,672. The company has a quick ratio of 1.30, a current ratio of 2.12 and a debt-to-equity ratio of 0.68. Stryker Co. has a 1 year low of $144.75 and a 1 year high of $199.85. The firm has a market cap of $72.93 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 2.38 and a beta of 0.81.
Stryker (NYSE:SYK) last released its earnings results on Tuesday, April 23rd. The medical technology company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.51 billion. During the same quarter last year, the firm posted $1.68 earnings per share. The business’s revenue was up 8.5% compared to the same quarter last year. Research analysts expect that Stryker Co. will post 8.15 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid 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 yield of 1.06%. Stryker’s payout ratio is 28.45%.
In other Stryker news, VP Michael Damon Hutchinson sold 3,936 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $194.10, for a total value of $763,977.60. Following the sale, the vice president now owns 12,841 shares in the company, valued at $2,492,438.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Timothy J. Scannell sold 4,666 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $186.71, for a total value of $871,188.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,637 shares of company stock worth $15,045,644. Insiders own 7.20% of the company’s stock.
A number of research analysts have recently commented on the company. Zacks Investment Research upgraded Stryker from a “hold” rating to a “buy” rating and set a $206.00 target price for the company in a research report on Tuesday, June 11th. ValuEngine upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Oppenheimer raised their price target on Stryker from $183.00 to $192.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Robert W. Baird raised their price target on Stryker from $201.00 to $206.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Finally, Deutsche Bank raised their price target on Stryker from $181.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $196.75.
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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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