Harbour Capital Advisors LLC Purchases 68,201 Shares of Stryker Co. (SYK)
Harbour Capital Advisors LLC boosted its position in shares of Stryker Co. (NYSE:SYK) by 13,778.0% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 68,696 shares of the medical technology company’s stock after buying an additional 68,201 shares during the period. Harbour Capital Advisors LLC’s holdings in Stryker were worth $495,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Personal Capital Advisors Corp bought a new stake in Stryker during the first quarter worth about $267,000. JPMorgan Chase & Co. raised its stake in Stryker 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. BB&T Corp raised its stake in Stryker by 5.7% in the second quarter. BB&T Corp now owns 56,546 shares of the medical technology company’s stock worth $7,847,000 after buying an additional 3,060 shares during the last quarter. British Columbia Investment Management Corp raised its stake in Stryker 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. Finally, Hartland & Co. LLC raised its stake in Stryker 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. 74.16% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Stryker Co. (SYK) opened at 139.41 on Wednesday. Stryker Co. has a one year low of $106.48 and a one year high of $148.84. The company’s 50-day moving average price is $144.80 and its 200 day moving average price is $137.03. The stock has a market capitalization of $52.15 billion, a PE ratio of 31.12 and a beta of 0.80.
Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, July 27th. The medical technology company reported $1.53 EPS for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.02. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.98 billion. Stryker had a net margin of 12.98% and a return on equity of 15.89%. Stryker’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.39 EPS. Analysts anticipate that Stryker Co. will post $6.47 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 issued 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 1.22%. Stryker’s payout ratio is 37.95%.
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A number of equities analysts have weighed in on SYK shares. Morgan Stanley upped their target price on Stryker from $145.00 to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 21st. Cantor Fitzgerald started coverage on Stryker in a research note on Thursday, June 29th. They issued a “neutral” rating and a $153.00 target price on the stock. BidaskClub lowered Stryker from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Zacks Investment Research upgraded Stryker from a “hold” rating to a “buy” rating and set a $163.00 target price on the stock in a research note on Monday, July 17th. Finally, Goldman Sachs Group, Inc. (The) started coverage on Stryker in a research note on Tuesday, May 16th. They issued a “neutral” rating and a $129.00 target price on the stock. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $145.73.
In other news, insider David Floyd sold 19,305 shares of the firm’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 transaction of $2,790,730.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lonny J. Carpenter sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $146.36, for a total transaction of $731,800.00. Following the sale, the insider now 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. Insiders have sold a total of 32,810 shares of company stock valued at $4,754,958 in the last 90 days. Insiders own 7.40% of the company’s stock.
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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