Stryker Corporation (SYK) Position Cut by Rehmann Capital Advisory Group
Rehmann Capital Advisory Group cut its stake in shares of Stryker Corporation (NYSE:SYK) by 7.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,603 shares of the medical technology company’s stock after selling 481 shares during the period. Rehmann Capital Advisory Group’s holdings in Stryker Corporation were worth $778,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the stock. 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 increased its stake in 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. purchased a new stake in Stryker Corporation during the second quarter valued at $155,000. Guardian Life Insurance Co. of America increased its stake in 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. increased its stake in 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. 73.99% of the stock is owned by institutional investors and hedge funds.
Shares of Stryker Corporation (NYSE:SYK) traded up 0.14% on Monday, hitting $146.73. The stock had a trading volume of 674,943 shares. The firm has a market cap of $54.89 billion, a P/E ratio of 32.75 and a beta of 0.80. Stryker Corporation has a 12-month low of $106.48 and a 12-month high of $148.84. The company’s 50-day moving average price is $142.76 and its 200 day moving average price is $134.44.
Stryker Corporation (NYSE:SYK) last announced its earnings results on Thursday, July 27th. The medical technology company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.51 by $0.02. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the prior year, the business posted $1.39 earnings per share. Stryker Corporation’s revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts forecast that Stryker Corporation will post $6.50 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Thursday, September 28th. Stryker Corporation’s dividend payout ratio is 37.95%.
SYK has been the subject of several recent research reports. BMO Capital Markets reaffirmed a “hold” rating and set a $125.00 price target on shares of Stryker Corporation in a report on Tuesday, April 11th. Jefferies Group LLC reaffirmed a “hold” rating and set a $132.00 price target on shares of Stryker Corporation in a report on Thursday, April 13th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $148.00 price target on shares of Stryker Corporation in a report on Monday, April 17th. Needham & Company LLC reaffirmed a “sell” rating on shares of Stryker Corporation in a report on Wednesday, April 26th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $140.00 price target (up from $135.00) on shares of Stryker Corporation in a report on Wednesday, April 26th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. Stryker Corporation currently has a consensus rating of “Hold” and an average price target of $144.03.
In related news, insider David Floyd sold 7,381 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $144.70, for a total transaction of $1,068,030.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Lonny J. Carpenter sold 5,000 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $146.36, for a total value of $731,800.00. Following the transaction, the insider now directly owns 88,207 shares in the company, valued at $12,909,976.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,686 shares of company stock valued at $4,590,562. 7.40% of the stock is currently 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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