Cottage Street Advisors LLC decreased its holdings in Stryker Co. (NYSE:SYK) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,962 shares of the medical technology company’s stock after selling 200 shares during the period. Stryker accounts for about 1.7% of Cottage Street Advisors LLC’s holdings, making the stock its 19th biggest position. Cottage Street Advisors LLC’s holdings in Stryker were worth $2,804,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Mosaic Family Wealth LLC bought a new position in shares of Stryker in the third quarter valued at approximately $243,000. Quadrant Capital Group LLC boosted its position in shares of Stryker by 11.6% in the third quarter. Quadrant Capital Group LLC now owns 530 shares of the medical technology company’s stock valued at $104,000 after acquiring an additional 55 shares during the period. Pegasus Partners Ltd. bought a new position in shares of Stryker in the third quarter valued at approximately $1,179,000. Boys Arnold & Co. Inc. boosted its position in shares of Stryker by 21.8% in the third quarter. Boys Arnold & Co. Inc. now owns 22,210 shares of the medical technology company’s stock valued at $4,744,000 after acquiring an additional 3,980 shares during the period. Finally, Bank of Stockton boosted its position in shares of Stryker by 6.1% in the third quarter. Bank of Stockton now owns 7,056 shares of the medical technology company’s stock valued at $1,526,000 after acquiring an additional 405 shares during the period. Hedge funds and other institutional investors own 73.03% of the company’s stock.
SYK has been the subject of a number of analyst reports. Svb Leerink restated an “outperform” rating on shares of Stryker in a research report on Wednesday, July 10th. BTIG Research set a $228.00 price objective on shares of Stryker and gave the company a “buy” rating in a research report on Thursday, September 5th. Morgan Stanley raised their price objective on shares of Stryker from $218.00 to $230.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Piper Jaffray Companies reiterated a “buy” rating on shares of Stryker in a research report on Wednesday, September 4th. Finally, Canaccord Genuity lifted their target price on shares of Stryker from $195.00 to $233.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Stryker currently has a consensus rating of “Buy” and an average price target of $214.89.
Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, July 25th. The medical technology company reported $1.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.93 by $0.05. The firm had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.60 billion. Stryker had a net margin of 24.99% and a return on equity of 25.98%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.76 EPS. Sell-side analysts predict that Stryker Co. will post 8.21 EPS 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 issued 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, Director Srikant M. Datar sold 350 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $215.00, for a total value of $75,250.00. Following the completion of the sale, the director now directly owns 6,844 shares in the company, valued at approximately $1,471,460. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP M Kathryn Fink sold 28,690 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $220.97, for a total transaction of $6,339,629.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,637 shares of company stock valued at $11,280,427. Company 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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