W.G. Shaheen & Associates DBA Whitney & Co decreased its position in shares of Stryker Co. (NYSE:SYK) by 18.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,679 shares of the medical technology company’s stock after selling 1,050 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Stryker were worth $884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently bought and sold shares of the company. Gofen & Glossberg LLC IL lifted its stake in shares of Stryker by 6.8% during the fourth quarter. Gofen & Glossberg LLC IL now owns 6,899 shares of the medical technology company’s stock valued at $1,081,000 after buying an additional 441 shares during the period. Fox Run Management L.L.C. acquired a new position in Stryker during the fourth quarter worth approximately $270,000. First Citizens Bank & Trust Co. increased its position in Stryker by 1.5% during the fourth quarter. First Citizens Bank & Trust Co. now owns 6,943 shares of the medical technology company’s stock worth $1,088,000 after purchasing an additional 103 shares during the last quarter. BKD Wealth Advisors LLC increased its position in Stryker by 2.0% during the fourth quarter. BKD Wealth Advisors LLC now owns 3,646 shares of the medical technology company’s stock worth $572,000 after purchasing an additional 72 shares during the last quarter. Finally, Daiwa SB Investments Ltd. increased its position in Stryker by 12.5% during the fourth quarter. Daiwa SB Investments Ltd. now owns 1,530 shares of the medical technology company’s stock worth $240,000 after purchasing an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 74.71% of the company’s stock.
In other news, VP Bijoy Sagar sold 2,000 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $190.43, for a total value of $380,860.00. Following the completion of the transaction, the vice president now directly owns 3,350 shares in the company, valued at $637,940.50. 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 29,247 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $185.62, for a total transaction of $5,428,828.14. Following the completion of the transaction, the vice president now owns 11,131 shares of the company’s stock, valued at $2,066,136.22. 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 90 days. Insiders own 7.20% of the company’s stock.
Stryker (NYSE:SYK) last announced its earnings results on Tuesday, April 23rd. The medical technology company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.04. The business had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.51 billion. Stryker had a net margin of 25.38% and a return on equity of 26.72%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.68 earnings per share. Equities research analysts predict that Stryker Co. will post 8.15 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders 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 annualized dividend and a dividend yield of 1.11%. Stryker’s dividend payout ratio (DPR) is presently 28.45%.
Several equities analysts recently commented on SYK shares. SunTrust Banks upped their price target on shares of Stryker to $205.00 and gave the stock a “positive” rating in a research report on Monday, February 4th. Royal Bank of Canada increased their price objective on shares of Stryker from $184.00 to $204.00 and gave the stock an “outperform” rating in a research report on Monday, March 11th. Credit Suisse Group raised shares of Stryker to an “outperform” rating in a research report on Thursday, January 31st. Wells Fargo & Co increased their price objective on shares of Stryker from $214.00 to $219.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $205.00 price objective on shares of Stryker in a research report on Friday, March 1st. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Stryker currently has a consensus rating of “Buy” and an average price target of $196.89.
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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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