Stryker Corporation (SYK) Stake Held by Bonness Enterprises Inc.
Bonness Enterprises Inc. held its position in Stryker Corporation (NYSE:SYK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 75,700 shares of the medical technology company’s stock at the end of the second quarter. Stryker Corporation comprises about 8.0% of Bonness Enterprises Inc.’s portfolio, making the stock its 2nd largest position. Bonness Enterprises Inc.’s holdings in Stryker Corporation were worth $10,506,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Stryker Corporation by 2,526.4% in the first quarter. BlackRock Inc. now owns 21,976,771 shares of the medical technology company’s stock worth $2,893,242,000 after buying an additional 21,140,000 shares in the last quarter. Vanguard Group Inc. boosted its position in Stryker Corporation by 5.2% in the first quarter. Vanguard Group Inc. now owns 23,421,053 shares of the medical technology company’s stock worth $3,083,382,000 after buying an additional 1,161,688 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Stryker Corporation by 41.9% in the first quarter. PNC Financial Services Group Inc. now owns 1,403,420 shares of the medical technology company’s stock worth $184,759,000 after buying an additional 414,715 shares in the last quarter. SG Americas Securities LLC boosted its position in Stryker Corporation by 600.6% in the first quarter. SG Americas Securities LLC now owns 412,340 shares of the medical technology company’s stock worth $54,285,000 after buying an additional 353,486 shares in the last quarter. Finally, Morgan Stanley boosted its position in Stryker Corporation by 17.9% in the first quarter. Morgan Stanley now owns 2,144,472 shares of the medical technology company’s stock worth $282,320,000 after buying an additional 325,661 shares in the last quarter. Hedge funds and other institutional investors own 73.79% of the company’s stock.
Shares of Stryker Corporation (SYK) traded down 0.74% during midday trading on Friday, reaching $144.29. The company’s stock had a trading volume of 1,673,285 shares. The stock has a 50 day moving average price of $144.61 and a 200-day moving average price of $136.38. The company has a market capitalization of $53.97 billion, a price-to-earnings ratio of 32.21 and a beta of 0.80. Stryker Corporation has a 52-week low of $106.48 and a 52-week high of $148.84.
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, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.02. The business had revenue of $3.01 billion for 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%. Stryker Corporation’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.39 EPS. Equities research analysts expect that Stryker Corporation will post $6.50 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders 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 1.18%. Stryker Corporation’s payout ratio is 37.95%.
SYK has been the subject of a number of analyst reports. Morgan Stanley upped their price target on Stryker Corporation from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, June 21st. Needham & Company LLC reiterated a “sell” rating on shares of Stryker Corporation in a research note on Wednesday, April 26th. Cantor Fitzgerald started coverage on Stryker Corporation in a research note on Thursday, June 29th. They set a “neutral” rating and a $153.00 target price for the company. BidaskClub cut Stryker Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Finally, Zacks Investment Research upgraded Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 target price for the company in a research note on Monday, July 17th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $144.03.
In other Stryker Corporation news, insider Lonny J. Carpenter sold 5,000 shares of Stryker Corporation stock in a transaction on Friday, August 4th. The stock was sold at an average price of $146.36, for a total value of $731,800.00. Following the completion of the transaction, the insider now owns 88,207 shares in the company, valued at approximately $12,909,976.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David Floyd sold 19,305 shares of Stryker Corporation stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $144.56, for a total value of $2,790,730.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,810 shares of company stock valued at $4,754,958. Corporate insiders own 7.40% of the company’s stock.
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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