Nomura Holdings Inc. increased its stake in shares of Stryker Co. (NYSE:SYK) by 758.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,200 shares of the medical technology company’s stock after purchasing an additional 73,512 shares during the quarter. Nomura Holdings Inc.’s holdings in Stryker were worth $17,178,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SYK. Vanguard Group Inc. boosted its position in shares of Stryker by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 26,735,288 shares of the medical technology company’s stock worth $5,496,241,000 after acquiring an additional 555,327 shares in the last quarter. BlackRock Inc. boosted its position in shares of Stryker by 0.6% during the 1st quarter. BlackRock Inc. now owns 25,036,303 shares of the medical technology company’s stock worth $4,945,168,000 after acquiring an additional 153,391 shares in the last quarter. FMR LLC boosted its position in shares of Stryker by 13.4% during the 1st quarter. FMR LLC now owns 6,728,182 shares of the medical technology company’s stock worth $1,328,951,000 after acquiring an additional 793,560 shares in the last quarter. Fundsmith LLP boosted its position in shares of Stryker by 1.0% during the 1st quarter. Fundsmith LLP now owns 5,581,841 shares of the medical technology company’s stock worth $1,102,525,000 after acquiring an additional 52,688 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Stryker by 0.5% during the 2nd quarter. Northern Trust Corp now owns 3,922,830 shares of the medical technology company’s stock worth $806,455,000 after acquiring an additional 19,248 shares in the last quarter. 72.95% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE SYK traded down $0.94 during trading hours on Friday, reaching $220.11. The stock had a trading volume of 47,717 shares, compared to its average volume of 849,770. The firm has a market cap of $82.88 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 2.65 and a beta of 0.83. The company has a current ratio of 2.07, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. Stryker Co. has a fifty-two week low of $144.75 and a fifty-two week high of $223.45. The firm has a 50-day moving average of $217.02 and a 200-day moving average of $200.46.
Stryker (NYSE:SYK) last announced its earnings results on Thursday, July 25th. The medical technology company reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.05. The firm had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.60 billion. Stryker had a return on equity of 25.98% and a net margin of 24.99%. The business’s revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.76 EPS. On average, equities analysts predict that Stryker Co. will post 8.21 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a $0.52 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.94%. Stryker’s dividend payout ratio (DPR) is presently 28.45%.
SYK has been the subject of several analyst reports. BMO Capital Markets set a $216.00 price objective on Stryker and gave the stock a “hold” rating in a research report on Friday, July 26th. BTIG Research set a $228.00 price objective on Stryker and gave the stock a “buy” rating in a research report on Thursday, September 5th. Canaccord Genuity upped their price objective on Stryker from $195.00 to $233.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Zacks Investment Research raised Stryker from a “hold” rating to a “buy” rating and set a $225.00 price objective for the company in a research report on Monday, July 29th. Finally, Morgan Stanley upped their price objective on Stryker from $218.00 to $230.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Stryker currently has a consensus rating of “Buy” and an average price target of $214.89.
In other Stryker news, insider Timothy J. Scannell sold 4,666 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $205.88, for a total transaction of $960,636.08. Following the completion of the sale, the insider now directly owns 155,963 shares of the company’s stock, valued at approximately $32,109,662.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Srikant M. Datar sold 350 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $215.00, for a total value of $75,250.00. Following the sale, the director now directly owns 6,844 shares of the company’s stock, valued at $1,471,460. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,447 shares of company stock valued at $4,359,827. Insiders own 7.20% of the company’s stock.
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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