Tompkins Financial Corp Sells 194 Shares of Stryker Corporation (SYK)
Tompkins Financial Corp decreased its position in Stryker Corporation (NYSE:SYK) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,180 shares of the medical technology company’s stock after selling 194 shares during the period. Tompkins Financial Corp’s holdings in Stryker Corporation were worth $1,552,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of SYK. Personal Capital Advisors Corp bought a new position in shares of Stryker Corporation during the first quarter worth approximately $267,000. JPMorgan Chase & Co. increased its position 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 worth $35,487,000 after buying an additional 198,035 shares during the last quarter. British Columbia Investment Management Corp increased its position 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 worth $17,588,000 after buying an additional 12,871 shares during the last quarter. Hartland & Co. LLC increased its position 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 worth $245,000 after buying an additional 25 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its position 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 worth $33,206,000 after buying an additional 207,409 shares during the last quarter. Hedge funds and other institutional investors own 73.79% of the company’s stock.
Shares of Stryker Corporation (NYSE SYK) traded up 0.211% during midday trading on Monday, reaching $144.595. The company had a trading volume of 420,740 shares. The company’s 50-day moving average is $144.61 and its 200-day moving average is $136.38. Stryker Corporation has a 52-week low of $106.48 and a 52-week high of $148.84. The firm has a market cap of $54.09 billion, a P/E ratio of 32.276 and a beta of 0.80.
Stryker Corporation (NYSE:SYK) last posted its earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the previous year, the firm earned $1.39 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. Equities research analysts expect that Stryker Corporation will post $6.50 EPS 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 paid a $0.425 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.70 dividend on an annualized basis and a yield of 1.18%. Stryker Corporation’s payout ratio is 37.95%.
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Several research analysts have recently issued reports on SYK shares. Cowen and Company set a $150.00 price target on Stryker Corporation and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. Morgan Stanley reissued an “overweight” rating and issued a $160.00 price target (up previously from $155.00) on shares of Stryker Corporation in a research note on Monday, July 10th. Cantor Fitzgerald started coverage on Stryker Corporation in a research note on Thursday, June 29th. They issued a “neutral” rating and a $153.00 price target for the company. Zacks Investment Research raised Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 price target for the company in a research note on Monday, July 17th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $140.00 price target (up previously from $135.00) on shares of Stryker Corporation in a research note on Wednesday, April 26th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus 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 the business’s stock in a transaction dated 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 directly owns 88,207 shares of the company’s stock, valued at $12,909,976.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Graham A. Mclean sold 1,124 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $146.26, for a total value of $164,396.24. Following the completion of the transaction, 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 three months, insiders sold 32,810 shares of company stock valued at $4,754,958. Insiders own 7.40% of the company’s stock.
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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