Stryker Corporation (SYK) Stake Decreased by First Trust Advisors LP
First Trust Advisors LP lessened its holdings in shares of Stryker Corporation (NYSE:SYK) by 2.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,822 shares of the medical technology company’s stock after selling 4,836 shares during the period. First Trust Advisors LP owned approximately 0.06% of Stryker Corporation worth $33,282,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the company. Davis Rea Ltd. lifted its holdings in shares of Stryker Corporation by 0.5% during the 2nd quarter. Davis Rea Ltd. now owns 50,857 shares of the medical technology company’s stock valued at $7,080,000 after purchasing an additional 265 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Stryker Corporation by 4.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,006,259 shares of the medical technology company’s stock valued at $139,649,000 after purchasing an additional 41,932 shares in the last quarter. Arrow Financial Corp lifted its holdings in shares of Stryker Corporation by 9.6% during the 2nd quarter. Arrow Financial Corp now owns 22,330 shares of the medical technology company’s stock valued at $3,099,000 after purchasing an additional 1,955 shares in the last quarter. Global X Management Co. LLC lifted its holdings in shares of Stryker Corporation by 35.4% during the 2nd quarter. Global X Management Co. LLC now owns 5,711 shares of the medical technology company’s stock valued at $793,000 after purchasing an additional 1,493 shares in the last quarter. Finally, Lakeview Capital Partners LLC lifted its holdings in shares of Stryker Corporation by 2.6% during the 2nd quarter. Lakeview Capital Partners LLC now owns 1,641 shares of the medical technology company’s stock valued at $228,000 after purchasing an additional 41 shares in the last quarter. Institutional investors and hedge funds own 74.18% of the company’s stock.
In related news, insider Graham A. Mclean sold 1,124 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $146.26, for a total transaction of $164,396.24. Following the completion of the sale, the insider now directly owns 8,983 shares of the company’s stock, valued at $1,313,853.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Floyd sold 19,305 shares of the 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 disclosure for this sale can be found here. Insiders have sold 25,429 shares of company stock valued at $3,686,927 over the last ninety days. 7.40% of the stock is currently owned by company insiders.
Stryker Corporation (NYSE SYK) opened at 142.50 on Friday. Stryker Corporation has a 52 week low of $106.48 and a 52 week high of $148.84. The company has a market capitalization of $53.30 billion, a P/E ratio of 31.81 and a beta of 0.81. The stock’s 50 day moving average price is $144.06 and its 200 day moving average price is $138.10.
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, topping the consensus estimate of $1.51 by $0.02. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.98 billion. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.39 earnings per share. Analysts anticipate that Stryker Corporation will post $6.46 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 given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Thursday, September 28th. Stryker Corporation’s payout ratio is 37.95%.
Several equities analysts have recently weighed in on SYK shares. BMO Capital Markets reiterated a “hold” rating and set a $140.00 price objective on shares of Stryker Corporation in a report on Tuesday, July 11th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Stryker Corporation in a research report on Monday, June 19th. Citigroup Inc. lifted their target price on Stryker Corporation from $114.00 to $125.00 and gave the company a “sell” rating in a research report on Friday, June 9th. Cantor Fitzgerald started coverage on Stryker Corporation in a research report on Thursday, June 29th. They issued a “neutral” rating and a $153.00 target price on the stock. Finally, Morgan Stanley reissued an “overweight” rating and issued a $160.00 target price (up previously from $155.00) on shares of Stryker Corporation in a research report on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $145.73.
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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