Stryker Corporation (SYK) Stake Cut by Cleararc Capital Inc.
Cleararc Capital Inc. lowered its stake in Stryker Corporation (NYSE:SYK) by 0.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,192 shares of the medical technology company’s stock after selling 25 shares during the period. Cleararc Capital Inc.’s holdings in Stryker Corporation were worth $1,078,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of SYK. Personal Capital Advisors Corp acquired a new stake in shares of Stryker Corporation during the first quarter valued at $267,000. JPMorgan Chase & Co. increased its stake in shares of 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 during the period. British Columbia Investment Management Corp increased its stake in shares of 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 during the period. BNP Paribas Arbitrage SA increased its stake in shares of 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 during the period. Finally, Hartland & Co. LLC increased its stake in shares of Stryker Corporation by 1.4% in the first quarter. Hartland & Co. LLC now owns 1,860 shares of the medical technology company’s stock valued at $245,000 after buying an additional 25 shares during the period. 73.79% of the stock is currently owned by institutional investors.
Stryker Corporation (NYSE SYK) traded down 0.74% during trading on Friday, hitting $144.29. 1,673,285 shares of the company traded hands. Stryker Corporation has a one year low of $106.48 and a one year high of $148.84. The firm has a 50 day moving average of $144.61 and a 200 day moving average of $136.38. The firm has a market cap of $53.97 billion, a P/E ratio of 32.21 and a beta of 0.80.
Stryker Corporation (NYSE:SYK) last announced its quarterly earnings results on Thursday, July 27th. The medical technology company reported $1.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.02. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.98 billion. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. Stryker Corporation’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.39 EPS. On average, analysts expect that Stryker Corporation will post $6.50 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors 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 1.18%. The ex-dividend date of this dividend is Thursday, September 28th. Stryker Corporation’s dividend payout ratio is currently 37.95%.
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SYK has been the subject of a number of recent analyst reports. Deutsche Bank AG restated a “buy” rating and issued a $148.00 price objective (up previously from $135.00) on shares of Stryker Corporation in a research report on Saturday, April 29th. BidaskClub downgraded shares of Stryker Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Zacks Investment Research upgraded shares of Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 price objective for the company in a research report on Monday, July 17th. Stifel Nicolaus raised their price objective on shares of Stryker Corporation from $151.00 to $158.00 and gave the company a “buy” rating in a research report on Friday, July 28th. Finally, Cowen and Company restated a “buy” rating and issued a $160.00 price objective (up previously from $150.00) on shares of Stryker Corporation in a research report on Sunday, July 30th. Three investment 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. The stock presently 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 company’s 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 filing with the Securities & Exchange Commission, which is available through this link. Also, insider Graham A. Mclean sold 1,124 shares of the stock in a transaction on 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 sale, the insider now directly owns 8,983 shares of the company’s stock, valued at $1,313,853.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,810 shares of company stock valued at $4,754,958. 7.40% of the stock is owned by 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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