Calamos Advisors LLC lowered its position in Stryker Co. (NYSE:SYK) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,112 shares of the medical technology company’s stock after selling 751 shares during the period. Calamos Advisors LLC’s holdings in Stryker were worth $17,868,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Voloridge Investment Management LLC purchased a new stake in shares of Stryker in the third quarter valued at about $4,589,000. Granite Investment Advisors LLC grew its position in Stryker by 0.7% during the third quarter. Granite Investment Advisors LLC now owns 17,847 shares of the medical technology company’s stock valued at $3,860,000 after buying an additional 120 shares during the period. Synovus Financial Corp grew its position in Stryker by 3.0% during the third quarter. Synovus Financial Corp now owns 3,829 shares of the medical technology company’s stock valued at $826,000 after buying an additional 111 shares during the period. Bridger Capital Management LLC bought a new position in Stryker during the third quarter valued at about $90,000. Finally, Hall Laurie J Trustee grew its position in Stryker by 2.2% during the third quarter. Hall Laurie J Trustee now owns 36,554 shares of the medical technology company’s stock valued at $7,907,000 after buying an additional 785 shares during the period. Institutional investors own 73.16% of the company’s stock.
Shares of NYSE:SYK opened at $206.75 on Thursday. The company has a quick ratio of 1.35, a current ratio of 2.18 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $78.43 billion, a PE ratio of 28.28, a P/E/G ratio of 2.34 and a beta of 0.76. Stryker Co. has a twelve month low of $160.79 and a twelve month high of $223.45. The company has a 50-day moving average price of $206.99 and a two-hundred day moving average price of $211.03.
Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.01. The firm had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.58 billion. Stryker had a net margin of 23.55% and a return on equity of 25.33%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the business earned $1.69 earnings per share. Analysts anticipate that Stryker Co. will post 8.23 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Monday, December 30th. This is a positive change from Stryker’s previous quarterly dividend of $0.52. Stryker’s dividend payout ratio (DPR) is currently 31.46%.
In other news, COO Timothy J. Scannell sold 4,666 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $206.28, for a total value of $962,502.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Glenn S. Boehnlein sold 2,700 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $215.85, for a total transaction of $582,795.00. Following the completion of the transaction, the chief financial officer now owns 17,933 shares of the company’s stock, valued at $3,870,838.05. The disclosure for this sale can be found here. Insiders have sold 26,652 shares of company stock valued at $5,705,481 in the last quarter. Company insiders own 7.20% of the company’s stock.
Several research firms recently weighed in on SYK. Barclays lowered shares of Stryker from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $226.00 to $207.00 in a research report on Tuesday, November 5th. Deutsche Bank began coverage on shares of Stryker in a research report on Friday, January 3rd. They set a “buy” rating and a $179.00 price target for the company. Piper Sandler lowered shares of Stryker from an “overweight” rating to a “neutral” rating and set a $210.00 price target for the company. in a research report on Tuesday, January 7th. Zacks Investment Research upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $215.00 price target for the company in a research report on Thursday, November 28th. Finally, Robert W. Baird increased their price target on shares of Stryker from $239.00 to $242.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $222.16.
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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