Alberta Investment Management Corp reduced its holdings in Stryker Co. (NYSE:SYK) by 20.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 189,800 shares of the medical technology company’s stock after selling 47,600 shares during the quarter. Alberta Investment Management Corp owned 0.05% of Stryker worth $41,054,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Massey Quick Simon & CO. LLC acquired a new position in shares of Stryker during the second quarter worth about $27,000. Ossiam acquired a new position in shares of Stryker during the second quarter worth about $33,000. Garrett Wealth Advisory Group LLC acquired a new position in shares of Stryker during the third quarter worth about $35,000. Stonebridge Capital Advisors LLC acquired a new position in shares of Stryker during the second quarter worth about $39,000. Finally, Webster Bank N. A. boosted its position in shares of Stryker by 300.0% during the second quarter. Webster Bank N. A. now owns 200 shares of the medical technology company’s stock worth $41,000 after buying an additional 150 shares during the period. Institutional investors own 73.03% of the company’s stock.
Several research firms have recently weighed in on SYK. 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. Svb Leerink reissued an “outperform” rating on shares of Stryker in a research report on Wednesday, July 10th. Zacks Investment Research raised Stryker from a “hold” rating to a “buy” rating and set a $225.00 price target for the company in a research report on Monday, July 29th. Barclays set a $226.00 price target on Stryker and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, BMO Capital Markets set a $216.00 price target on Stryker and gave the company a “hold” rating in a research report on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $214.89.
Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, July 25th. The medical technology company reported $1.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.93 by $0.05. Stryker had a return on equity of 25.98% and a net margin of 24.99%. The company had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.60 billion. During the same period last year, the firm posted $1.76 earnings per share. The business’s revenue was up 9.9% on a year-over-year basis. As a group, analysts expect that Stryker Co. will post 8.21 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders 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 0.99%. Stryker’s payout ratio is 28.45%.
In other news, COO Timothy J. Scannell sold 4,666 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $217.08, for a total transaction of $1,012,895.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP M Kathryn Fink sold 28,690 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $220.97, for a total value of $6,339,629.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,637 shares of company stock valued at $11,280,427. 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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