First Personal Financial Services cut its holdings in Stryker Co. (NYSE:SYK) by 48.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 795 shares of the medical technology company’s stock after selling 735 shares during the quarter. First Personal Financial Services’ holdings in Stryker were worth $172,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of SYK. Buckingham Capital Management Inc. raised its stake in Stryker by 12.3% in the first quarter. Buckingham Capital Management Inc. now owns 34,399 shares of the medical technology company’s stock worth $6,794,000 after buying an additional 3,769 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Stryker by 20.1% during the 1st quarter. First Trust Advisors LP now owns 298,815 shares of the medical technology company’s stock worth $59,022,000 after buying an additional 50,042 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Stryker during the 1st quarter worth approximately $534,000. Belpointe Asset Management LLC increased its holdings in shares of Stryker by 44.1% during the 1st quarter. Belpointe Asset Management LLC now owns 1,164 shares of the medical technology company’s stock worth $230,000 after buying an additional 356 shares during the last quarter. Finally, Meridian Wealth Management LLC acquired a new stake in shares of Stryker during the 1st quarter worth approximately $59,000. Hedge funds and other institutional investors own 73.04% of the company’s stock.
Shares of NYSE:SYK opened at $213.20 on Wednesday. The company has a market cap of $80.41 billion, a price-to-earnings ratio of 29.17, a PEG ratio of 2.59 and a beta of 0.81. Stryker Co. has a fifty-two week low of $144.75 and a fifty-two week high of $223.45. The firm’s 50-day simple moving average is $216.84 and its 200-day simple moving average is $203.37. The company has a quick ratio of 1.26, a current ratio of 2.07 and a debt-to-equity ratio of 0.67.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, September 27th. Stryker’s dividend payout ratio (DPR) is presently 28.45%.
A number of brokerages have recently issued reports on SYK. ValuEngine downgraded shares of Stryker from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Royal Bank of Canada set a $220.00 price objective on shares of Stryker and gave the company a “buy” rating in a report on Friday, July 26th. Canaccord Genuity raised their price objective on shares of Stryker from $195.00 to $233.00 and gave the company a “buy” rating in a report on Friday, July 26th. BMO Capital Markets set a $216.00 price objective on shares of Stryker and gave the company a “hold” rating in a report on Friday, July 26th. Finally, Wells Fargo & Co raised their price objective on shares of Stryker from $219.00 to $228.00 and gave the company an “outperform” rating in a report on Tuesday, July 2nd. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $214.89.
In other Stryker news, CFO Glenn S. Boehnlein sold 2,700 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $214.16, for a total value of $578,232.00. Following the sale, the chief financial officer now owns 20,633 shares of the company’s stock, valued at $4,418,763.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Allan C. Golston sold 3,399 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $209.84, for a total transaction of $713,246.16. Following the completion of the transaction, the director now directly owns 13,762 shares of the company’s stock, valued at approximately $2,887,818.08. The disclosure for this sale can be found here. Insiders sold 46,971 shares of company stock worth $10,279,570 in the last ninety days. Insiders own 7.20% of the company’s stock.
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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