Concert Wealth Management Inc. Raises Stake in Stryker Corporation (NYSE:SYK)
Concert Wealth Management Inc. raised its stake in shares of Stryker Corporation (NYSE:SYK) by 0.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,282 shares of the medical technology company’s stock after buying an additional 6 shares during the period. Concert Wealth Management Inc.’s holdings in Stryker Corporation were worth $510,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of SYK. Bollard Group LLC increased its stake in Stryker Corporation by 0.4% in the first quarter. Bollard Group LLC now owns 829 shares of the medical technology company’s stock valued at $109,000 after buying an additional 3 shares during the last quarter. Baystate Wealth Management LLC boosted its position in shares of Stryker Corporation by 2.1% in the first quarter. Baystate Wealth Management LLC now owns 1,066 shares of the medical technology company’s stock valued at $139,000 after buying an additional 22 shares during the period. Assetmark Inc. boosted its position in shares of Stryker Corporation by 0.3% in the first quarter. Assetmark Inc. now owns 1,274 shares of the medical technology company’s stock valued at $168,000 after buying an additional 4 shares during the period. Daiwa SB Investments Ltd. bought a new position in shares of Stryker Corporation during the first quarter valued at $170,000. Finally, Mosaic Family Wealth LLC boosted its position in shares of Stryker Corporation by 3.5% in the first quarter. Mosaic Family Wealth LLC now owns 1,300 shares of the medical technology company’s stock valued at $171,000 after buying an additional 44 shares during the period. 74.07% of the stock is owned by institutional investors and hedge funds.
Stryker Corporation (NYSE:SYK) traded up 0.11% during mid-day trading on Friday, reaching $146.53. The company had a trading volume of 638,405 shares. The firm has a 50-day moving average of $142.76 and a 200 day moving average of $134.44. Stryker Corporation has a 1-year low of $106.48 and a 1-year high of $148.84. The company has a market capitalization of $54.81 billion, a PE ratio of 32.71 and a beta of 0.80.
Stryker Corporation (NYSE:SYK) last issued its quarterly earnings data on Thursday, July 27th. The medical technology company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.02. The company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.98 billion. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.39 earnings per share. On average, analysts predict that Stryker Corporation will post $6.50 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be given a $0.425 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.70 annualized dividend and a yield of 1.16%. Stryker Corporation’s payout ratio is 37.95%.
SYK has been the topic of several recent analyst reports. Morgan Stanley raised their price objective on Stryker Corporation from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, June 21st. Needham & Company LLC restated a “sell” rating on shares of Stryker Corporation in a research note on Wednesday, April 26th. Jefferies Group LLC restated a “hold” rating and set a $132.00 price objective on shares of Stryker Corporation in a research note on Thursday, April 13th. Cantor Fitzgerald began coverage on Stryker Corporation in a research note on Thursday, June 29th. They set a “neutral” rating and a $153.00 target price on the stock. Finally, BidaskClub cut Stryker Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the stock. Stryker Corporation currently has an average rating of “Hold” and an average price target of $144.03.
In related news, insider David Floyd sold 19,305 shares of the stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $144.56, for a total value of $2,790,730.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 7.40% of the company’s stock.
About Stryker Corporation
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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