National Pension Service Raises Stake in Stryker Corporation (SYK)
National Pension Service raised its position in Stryker Corporation (NYSE:SYK) by 10.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 271,097 shares of the medical technology company’s stock after buying an additional 25,459 shares during the period. National Pension Service owned approximately 0.07% of Stryker Corporation worth $37,631,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the company. Ledyard National Bank raised its stake in shares of Stryker Corporation by 1.9% in the first quarter. Ledyard National Bank now owns 30,762 shares of the medical technology company’s stock worth $4,050,000 after buying an additional 584 shares during the last quarter. Bollard Group LLC raised its stake in shares of Stryker Corporation by 0.4% in the first quarter. Bollard Group LLC now owns 829 shares of the medical technology company’s stock worth $109,000 after buying an additional 3 shares during the last quarter. Huntington National Bank raised its stake in shares of Stryker Corporation by 8.7% in the first quarter. Huntington National Bank now owns 219,548 shares of the medical technology company’s stock worth $28,904,000 after buying an additional 17,485 shares during the last quarter. Rothschild Investment Corp IL raised its stake in shares of Stryker Corporation by 13.3% in the first quarter. Rothschild Investment Corp IL now owns 4,250 shares of the medical technology company’s stock worth $560,000 after buying an additional 500 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Stryker Corporation during the first quarter worth $342,000. Institutional investors own 73.79% of the company’s stock.
Stryker Corporation (SYK) traded up 0.89% on Friday, hitting $140.00. 642,295 shares of the stock were exchanged. Stryker Corporation has a one year low of $106.48 and a one year high of $148.84. The company has a market cap of $52.37 billion, a P/E ratio of 31.25 and a beta of 0.80. The company’s 50 day moving average price is $144.79 and its 200-day moving average price is $136.91.
Stryker Corporation (NYSE:SYK) last issued its quarterly earnings data on Thursday, July 27th. The medical technology company reported $1.53 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 for the quarter, compared to analyst estimates of $2.98 billion. During the same period in the prior year, the firm posted $1.39 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts predict that Stryker Corporation will post $6.50 EPS 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 given a dividend of $0.425 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.23%. Stryker Corporation’s payout ratio is 37.95%.
SYK has been the topic of a number of recent analyst reports. BidaskClub raised shares of Stryker Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Canaccord Genuity reissued a “buy” rating and set a $155.00 price objective (down from $158.00) on shares of Stryker Corporation in a research report on Thursday. Piper Jaffray Companies reissued an “overweight” rating and set a $148.00 price objective on shares of Stryker Corporation in a research report on Thursday. Needham & Company LLC raised shares of Stryker Corporation from an “underperform” rating to a “hold” rating in a research report on Friday. Finally, Zacks Investment Research downgraded shares of Stryker Corporation from a “buy” rating to a “hold” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $144.97.
In other Stryker Corporation news, insider Graham A. Mclean sold 1,124 shares of the stock in a transaction dated Tuesday, August 8th. The stock was 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 in the company, valued at $1,313,853.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Floyd sold 19,305 shares of the stock in a transaction dated 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. Over the last quarter, insiders have sold 32,810 shares of company stock valued at $4,754,958. Corporate 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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