Greenleaf Trust Sells 764,087 Shares of Stryker Corporation (NYSE:SYK)
Greenleaf Trust decreased its stake in shares of Stryker Corporation (NYSE:SYK) by 3.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,219,338 shares of the medical technology company’s stock after selling 764,087 shares during the period. Stryker Corporation comprises 76.8% of Greenleaf Trust’s investment portfolio, making the stock its largest position. Greenleaf Trust owned approximately 6.48% of Stryker Corporation worth $3,364,517,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Personal Capital Advisors Corp bought a new stake in Stryker Corporation during the first quarter valued at $267,000. JPMorgan Chase & Co. increased its stake in Stryker Corporation by 276.9% in the first quarter. JPMorgan Chase & Co. now owns 269,555 shares of the medical technology company’s stock valued at $35,487,000 after buying an additional 198,035 shares in the last quarter. British Columbia Investment Management Corp increased its stake in Stryker Corporation by 10.7% in the first quarter. British Columbia Investment Management Corp now owns 133,596 shares of the medical technology company’s stock valued at $17,588,000 after buying an additional 12,871 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Stryker Corporation by 462.7% in the first quarter. BNP Paribas Arbitrage SA now owns 252,230 shares of the medical technology company’s stock valued at $33,206,000 after buying an additional 207,409 shares in the last quarter. Finally, BB&T Corp increased its stake in Stryker Corporation by 5.7% in the second quarter. BB&T Corp now owns 56,546 shares of the medical technology company’s stock valued at $7,847,000 after buying an additional 3,060 shares in the last quarter. Institutional investors and hedge funds own 73.79% of the company’s stock.
Shares of Stryker Corporation (SYK) traded up 0.9643% during trading on Monday, hitting $145.5703. The stock had a trading volume of 404,528 shares. The stock’s 50 day moving average price is $143.72 and its 200-day moving average price is $135.51. The stock has a market cap of $54.45 billion, a P/E ratio of 32.4934 and a beta of 0.80. Stryker Corporation has a one year low of $106.48 and a one year high of $148.84.
Stryker Corporation (NYSE:SYK) last announced its earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.39 earnings per share. Analysts expect that Stryker Corporation will post $6.50 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Thursday, September 28th. Stryker Corporation’s payout ratio is currently 37.95%.
Several research firms have recently weighed in on SYK. Zacks Investment Research raised shares of Stryker Corporation from a “hold” rating to a “buy” rating and set a $166.00 price target for the company in a research note on Tuesday, August 1st. BidaskClub downgraded shares of Stryker Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Cowen and Company reaffirmed a “buy” rating and set a $160.00 price target (up previously from $150.00) on shares of Stryker Corporation in a research note on Sunday, July 30th. Stifel Nicolaus lifted their price target 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, Oppenheimer Holdings, Inc. set a $148.00 price target on shares of Stryker Corporation and gave the company a “hold” rating in a research note on Friday, July 28th. Three equities 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. Stryker Corporation presently has an average rating of “Hold” and an average target price of $144.03.
In other Stryker Corporation news, insider Graham A. Mclean sold 1,124 shares of Stryker Corporation stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $146.26, for a total transaction of $164,396.24. Following the completion of the transaction, the insider now owns 8,983 shares in the company, valued at $1,313,853.58. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David Floyd sold 19,305 shares of Stryker Corporation stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $144.56, for a total transaction of $2,790,730.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,810 shares of company stock valued at $4,754,958. 7.40% of the stock is currently owned by company insiders.
Stryker Corporation Company Profile
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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