Stryker Corp. (SYK) Position Increased by Meag Munich Ergo Kapitalanlagegesellschaft MBH
Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its stake in shares of Stryker Corp. (NYSE:SYK) by 444.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 165,225 shares of the medical technology company’s stock after buying an additional 134,892 shares during the period. Stryker Corp. accounts for 1.8% of Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings, making the stock its 13th largest position. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Stryker Corp. were worth $19,667,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Carroll Financial Associates Inc. increased its stake in shares of 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 valued at $130,000 after buying an additional 476 shares during the period. CWM LLC acquired a new stake in shares of Stryker Corp. during the second quarter valued at about $150,000. Lau Associates LLC acquired a new stake in shares of Stryker Corp. during the second quarter valued at about $204,000. Brightworth acquired a new stake in shares of Stryker Corp. during the second quarter valued at about $211,000. Finally, Leavell Investment Management Inc. acquired a new stake in shares of Stryker Corp. during the second quarter valued at about $250,000. 75.50% of the stock is currently owned by institutional investors.
Shares of Stryker Corp. (NYSE:SYK) traded up 1.09% during midday trading on Tuesday, hitting $114.81. The company’s stock had a trading volume of 677,644 shares. The firm has a 50-day moving average of $115.20 and a 200 day moving average of $114.25. Stryker Corp. has a 12-month low of $86.68 and a 12-month high of $123.55. The firm has a market cap of $42.97 billion, a price-to-earnings ratio of 27.07 and a beta of 0.72.
Stryker Corp. (NYSE:SYK) last released its earnings results on Thursday, July 21st. The medical technology company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.02. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.79 billion. Stryker Corp. had a return on equity of 23.61% and a net margin of 15.33%. On average, equities research analysts predict that Stryker Corp. will post $5.76 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders 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 annualized dividend and a dividend yield of 1.32%. Stryker Corp.’s dividend payout ratio (DPR) is presently 35.85%.
Several brokerages recently issued reports on SYK. Canaccord Genuity reissued a “buy” rating and set a $130.00 target price on shares of Stryker Corp. in a research note on Sunday, July 24th. SunTrust Banks Inc. began coverage on Stryker Corp. in a research note on Thursday, October 13th. They set a “buy” rating and a $140.00 target price on the stock. JPMorgan Chase & Co. reissued a “hold” rating and set a $119.00 target price on shares of Stryker Corp. in a research note on Friday, July 22nd. Piper Jaffray Cos. lifted their target price on Stryker Corp. from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, July 22nd. Finally, Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $124.00 price objective (up previously from $110.00) on shares of Stryker Corp. in a research note on Tuesday, July 19th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $117.91.
In related news, VP Yin C. Becker sold 1,111 shares of the stock in a transaction that occurred on Thursday, October 6th. The stock was sold at an average price of $117.00, for a total value of $129,987.00. Following the completion of the sale, the vice president now owns 16,939 shares of the company’s stock, valued at $1,981,863. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ronda E. Stryker sold 12,000 shares of the stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $122.26, for a total value of $1,467,120.00. Following the completion of the sale, the director now directly owns 193,142 shares of the company’s stock, valued at approximately $23,613,540.92. The disclosure for this sale can be found here. 7.80% of the stock is owned by 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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