First Merchants Corp lowered its position in Stryker Corporation (NYSE:SYK) by 5.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,266 shares of the medical technology company’s stock after selling 1,728 shares during the period. Stryker Corporation comprises 1.1% of First Merchants Corp’s investment portfolio, making the stock its 23rd largest position. First Merchants Corp’s holdings in Stryker Corporation were worth $3,923,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Baystate Wealth Management LLC increased its stake in Stryker Corporation by 2.1% in the first quarter. Baystate Wealth Management LLC now owns 1,066 shares of the medical technology company’s stock valued at $139,000 after buying an additional 22 shares during the last quarter. Adviser Investments LLC purchased a new stake in Stryker Corporation during the first quarter valued at $378,000. Duncker Streett & Co. Inc. increased its stake in Stryker Corporation by 1.7% in the first quarter. Duncker Streett & Co. Inc. now owns 31,820 shares of the medical technology company’s stock valued at $4,190,000 after buying an additional 535 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new stake in Stryker Corporation during the first quarter valued at $226,000. Finally, ProShare Advisors LLC increased its stake in Stryker Corporation by 0.9% in the first quarter. ProShare Advisors LLC now owns 31,024 shares of the medical technology company’s stock valued at $4,084,000 after buying an additional 264 shares during the last quarter. 74.16% of the stock is owned by institutional investors.

Stryker Corporation (NYSE:SYK) opened at 139.57 on Tuesday. The firm’s 50-day moving average price is $144.80 and its 200 day moving average price is $137.03. The firm has a market cap of $52.21 billion, a PE ratio of 31.15 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 posted its quarterly earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.02. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.98 billion. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. Stryker Corporation’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.39 earnings per share. On average, equities analysts anticipate that Stryker Corporation will post $6.47 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be paid a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, September 28th. Stryker Corporation’s dividend payout ratio (DPR) is 37.95%.

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Several analysts have recently weighed in on SYK shares. Piper Jaffray Companies reissued an “overweight” rating and issued a $148.00 target price on shares of Stryker Corporation in a report on Thursday, August 24th. Morgan Stanley reissued an “overweight” rating and issued a $160.00 target price (up from $155.00) on shares of Stryker Corporation in a report on Monday, July 10th. Needham & Company LLC raised Stryker Corporation from an “underperform” rating to a “hold” rating in a report on Friday. Cantor Fitzgerald started coverage on Stryker Corporation in a report on Thursday, June 29th. They issued a “neutral” rating and a $153.00 target price for the company. Finally, Zacks Investment Research raised Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 target price for the company in a report on Monday, July 17th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company’s stock. Stryker Corporation has an average rating of “Hold” and a consensus price target of $144.97.

In other Stryker Corporation news, insider David Floyd sold 19,305 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lonny J. Carpenter sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $146.36, for a total transaction of $731,800.00. Following the completion of the sale, the insider now directly owns 88,207 shares of the company’s stock, valued at approximately $12,909,976.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,810 shares of company stock valued at $4,754,958. 7.40% of the stock is currently 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.

Institutional Ownership by Quarter for Stryker Corporation (NYSE:SYK)

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