Greenleaf Trust Cuts Position in Stryker Corp. (SYK)
Greenleaf Trust decreased its position in shares of Stryker Corp. (NYSE:SYK) by 1.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,070,567 shares of the medical technology company’s stock after selling 499,233 shares during the period. Stryker Corp. accounts for about 83.1% of Greenleaf Trust’s portfolio, making the stock its largest position. Greenleaf Trust owned about 7.23% of Stryker Corp. worth $3,243,866,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. Carroll Financial Associates Inc. increased its stake in Stryker Corp. by 78.0% in the second quarter. Carroll Financial Associates Inc. now owns 1,086 shares of the medical technology company’s stock worth $130,000 after buying an additional 476 shares during the last quarter. CWM LLC bought a new position in shares of Stryker Corp. during the second quarter valued at about $150,000. Lau Associates LLC bought a new position in shares of Stryker Corp. during the second quarter valued at about $204,000. Brightworth bought a new position in shares of Stryker Corp. during the second quarter valued at about $211,000. Finally, Leavell Investment Management Inc. bought a new position in shares of Stryker Corp. during the second quarter valued at about $250,000. Institutional investors own 75.49% of the company’s stock.
Shares of Stryker Corp. (NYSE:SYK) traded up 0.46% during midday trading on Wednesday, hitting $116.79. 550,980 shares of the stock were exchanged. The firm has a market cap of $43.71 billion, a P/E ratio of 27.53 and a beta of 0.72. Stryker Corp. has a 12-month low of $86.68 and a 12-month high of $123.55. The stock’s 50 day moving average is $114.81 and its 200 day moving average is $113.71.
Stryker Corp. (NYSE:SYK) last released its earnings results on Thursday, July 21st. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.02. Stryker Corp. had a net margin of 15.33% and a return on equity of 23.61%. The company earned $2.84 billion during the quarter, compared to the consensus estimate of $2.79 billion. On average, equities research analysts forecast that Stryker Corp. will post $5.76 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be given a $0.38 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.52 dividend on an annualized basis and a yield of 1.31%. Stryker Corp.’s payout ratio is 35.85%.
Several research analysts recently issued reports on SYK shares. Guggenheim started coverage on Stryker Corp. in a research report on Wednesday, June 8th. They set a “buy” rating and a $134.00 price objective for the company. Zacks Investment Research upgraded Stryker Corp. from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a research report on Tuesday, June 21st. Credit Suisse Group AG restated an “outperform” rating and set a $124.00 price objective (up from $110.00) on shares of Stryker Corp. in a research report on Tuesday, July 19th. Piper Jaffray Cos. lifted their price objective on Stryker Corp. from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, July 22nd. Finally, JPMorgan Chase & Co. restated a “hold” rating and set a $119.00 price objective on shares of Stryker Corp. in a research report on Friday, July 22nd. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the company. Stryker Corp. currently has a consensus rating of “Hold” and an average target price of $114.91.
In other news, Director Ronda E. Stryker sold 6,000 shares of the stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $116.68, for a total transaction of $700,080.00. Following the transaction, the director now owns 193,142 shares in the company, valued at approximately $22,535,808.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 12,000 shares of the stock in a transaction on Friday, September 30th. The stock was sold at an average price of $116.17, for a total transaction of $1,394,040.00. Following the transaction, the director now owns 193,142 shares in the company, valued at approximately $22,437,306.14. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by company insiders.
Stryker Corp. Company Profile
Stryker Corporation (Stryker) is a medical technology company. The Company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Company’s Orthopaedics segment products consist of implants used in hip and knee joint replacements and trauma and surgeries. The Company’s MedSurg segment products consist of surgical equipment and surgical navigation systems (Instruments); endoscopic and communications systems (Endoscopy); patient handling and emergency medical equipment (Medical), and reprocessed and remanufactured medical devices (Sustainability), as well as other medical device products used in a range of medical specialties.
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