Maple Capital Management Inc. Reduces Position in Stryker Corporation (NYSE:SYK)
Maple Capital Management Inc. decreased its stake in Stryker Corporation (NYSE:SYK) by 0.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,910 shares of the medical technology company’s stock after selling 25 shares during the period. Maple Capital Management Inc.’s holdings in Stryker Corporation were worth $404,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of the company. Bollard Group LLC raised its stake in shares of 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 raised its stake 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 last quarter. James Investment Research Inc. bought a new stake in shares of Stryker Corporation during the second quarter valued at about $155,000. Guardian Life Insurance Co. of America raised its stake in shares of Stryker Corporation by 0.8% in the first quarter. Guardian Life Insurance Co. of America now owns 1,199 shares of the medical technology company’s stock valued at $158,000 after buying an additional 9 shares during the last quarter. Finally, Assetmark Inc. raised its stake 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 last quarter. Institutional investors own 73.99% of the company’s stock.
Stryker Corporation (SYK) traded up 0.14% during mid-day trading on Monday, hitting $146.73. 674,943 shares of the stock were exchanged. The stock has a market capitalization of $54.89 billion, a PE ratio of 32.75 and a beta of 0.80. The company has a 50-day moving average of $142.76 and a 200-day moving average of $134.44. Stryker Corporation has a 52 week low of $106.48 and a 52 week high of $148.84.
Stryker Corporation (NYSE:SYK) last issued its earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.02. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the prior year, the business earned $1.39 earnings per share. Stryker Corporation’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities analysts predict that Stryker Corporation will post $6.50 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.16%. Stryker Corporation’s dividend payout ratio is 37.95%.
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A number of research analysts recently weighed in on SYK shares. BidaskClub lowered shares of Stryker Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Cowen and Company reiterated a “buy” rating and issued a $160.00 price objective (up from $150.00) on shares of Stryker Corporation in a research note on Sunday, July 30th. Zacks Investment Research upgraded shares of Stryker Corporation from a “hold” rating to a “buy” rating and set a $166.00 price objective for the company in a research note on Tuesday, August 1st. Stifel Nicolaus lifted their price objective on shares of Stryker Corporation from $151.00 to $158.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Finally, Royal Bank Of Canada lifted their price objective on shares of Stryker Corporation from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $144.03.
In other Stryker Corporation news, insider David Floyd sold 19,305 shares of the stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $144.56, for a total transaction of $2,790,730.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lonny J. Carpenter sold 5,000 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $146.36, for a total transaction of $731,800.00. Following the transaction, the insider now owns 88,207 shares of the company’s stock, valued at approximately $12,909,976.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,686 shares of company stock valued at $4,590,562. 7.40% of the stock is owned by company insiders.
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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