Barings LLC lessened its holdings in shares of Stryker Co. (NYSE:SYK) by 43.5% in the third quarter, Holdings Channel reports. The fund owned 16,209 shares of the medical technology company’s stock after selling 12,460 shares during the period. Barings LLC’s holdings in Stryker were worth $2,881,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Atlantic Trust LLC bought a new stake in shares of Stryker during the 2nd quarter valued at about $105,000. Centaurus Financial Inc. bought a new stake in shares of Stryker during the 2nd quarter valued at about $110,000. NuWave Investment Management LLC raised its holdings in shares of Stryker by 3,245.0% during the 3rd quarter. NuWave Investment Management LLC now owns 669 shares of the medical technology company’s stock valued at $119,000 after buying an additional 649 shares in the last quarter. Kaizen Advisory LLC raised its holdings in shares of Stryker by 142.6% during the 2nd quarter. Kaizen Advisory LLC now owns 752 shares of the medical technology company’s stock valued at $127,000 after buying an additional 442 shares in the last quarter. Finally, CX Institutional purchased a new position in shares of Stryker during the 2nd quarter valued at about $133,000. Hedge funds and other institutional investors own 75.21% of the company’s stock.
Shares of Stryker stock opened at $162.04 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.21 and a current ratio of 1.91. The company has a market capitalization of $59.98 billion, a price-to-earnings ratio of 24.96, a P/E/G ratio of 2.25 and a beta of 0.59. Stryker Co. has a one year low of $146.80 and a one year high of $179.84.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Friday, September 28th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $1.88 dividend on an annualized basis and a yield of 1.16%. Stryker’s dividend payout ratio (DPR) is currently 28.97%.
A number of equities analysts recently weighed in on the company. Zacks Investment Research cut Stryker from a “buy” rating to a “sell” rating in a report on Wednesday, July 18th. BMO Capital Markets reissued a “hold” rating and set a $174.00 price objective on shares of Stryker in a report on Thursday, July 12th. JPMorgan Chase & Co. raised their price objective on Stryker to $200.00 and gave the company an “overweight” rating in a report on Thursday, September 13th. Citigroup raised their price objective on Stryker from $171.00 to $173.00 and gave the company a “neutral” rating in a report on Wednesday, July 25th. Finally, Cantor Fitzgerald raised their price objective on Stryker from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Wednesday, July 25th. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $181.15.
In other Stryker news, CFO Glenn S. Boehnlein sold 750 shares of Stryker stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $178.17, for a total value of $133,627.50. Following the transaction, the chief financial officer now directly owns 2,785 shares of the company’s stock, valued at approximately $496,203.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Katherine Ann Owen sold 37,866 shares of Stryker stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $166.84, for a total value of $6,317,563.44. Following the completion of the transaction, the vice president now directly owns 11,367 shares in the company, valued at $1,896,470.28. The disclosure for this sale can be found here. 7.30% of the stock is owned by insiders.
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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