Stryker Corporation (SYK) Shares Bought by West Family Investments Inc.
West Family Investments Inc. increased its position in Stryker Corporation (NYSE:SYK) by 3.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 125,220 shares of the medical technology company’s stock after acquiring an additional 4,000 shares during the period. Stryker Corporation makes up 3.6% of West Family Investments Inc.’s portfolio, making the stock its 6th biggest position. West Family Investments Inc.’s holdings in Stryker Corporation were worth $16,628,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Lockheed Martin Investment Management Co. acquired a new stake in shares of Stryker Corporation in the 2nd quarter worth about $1,249,000. JPMorgan Chase & Co. increased its holdings in shares of Stryker Corporation by 276.9% in the 1st quarter. JPMorgan Chase & Co. now owns 269,555 shares of the medical technology company’s stock worth $35,487,000 after acquiring an additional 198,035 shares during the period. BB&T Corp increased its holdings in shares of Stryker Corporation by 5.7% in the 2nd quarter. BB&T Corp now owns 56,546 shares of the medical technology company’s stock worth $7,847,000 after acquiring an additional 3,060 shares during the period. British Columbia Investment Management Corp increased its holdings in shares of Stryker Corporation by 10.7% in the 1st quarter. British Columbia Investment Management Corp now owns 133,596 shares of the medical technology company’s stock worth $17,588,000 after acquiring an additional 12,871 shares during the period. Finally, Hartland & Co. LLC increased its holdings in shares of Stryker Corporation by 1.4% in the 1st quarter. Hartland & Co. LLC now owns 1,860 shares of the medical technology company’s stock worth $245,000 after acquiring an additional 25 shares during the period. 74.18% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Graham A. Mclean sold 1,124 shares of the company’s 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 sale, the insider now directly owns 8,983 shares of the company’s stock, valued at approximately $1,313,853.58. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Lonny J. Carpenter sold 5,000 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $146.36, for a total value 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 $12,909,976.52. The disclosure for this sale can be found here. Insiders have sold a total of 25,429 shares of company stock valued at $3,686,927 over the last three months. Company insiders own 7.40% of the company’s stock.
Stryker Corporation (SYK) opened at 143.03 on Thursday. Stryker Corporation has a one year low of $106.48 and a one year high of $148.84. The firm has a market capitalization of $53.50 billion, a PE ratio of 31.93 and a beta of 0.81. The firm has a 50 day moving average of $143.90 and a 200 day moving average of $138.47.
Stryker Corporation (NYSE:SYK) last announced its quarterly earnings data on Thursday, July 27th. The medical technology company reported $1.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.02. The firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations 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 previous year, the business posted $1.39 EPS. Equities analysts forecast that Stryker Corporation will post $6.46 EPS for the current year.
The company 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 dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.70 annualized dividend and a yield of 1.19%. Stryker Corporation’s dividend payout ratio is currently 37.95%.
A number of analysts recently weighed in on SYK shares. Morgan Stanley increased their price objective on shares of Stryker Corporation from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, June 21st. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $155.00 price objective on shares of Stryker Corporation in a report on Friday, September 1st. Cantor Fitzgerald started coverage on shares of Stryker Corporation in a report on Thursday, June 29th. They issued a “neutral” rating and a $153.00 price objective on the stock. BidaskClub cut shares of Stryker Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Finally, Zacks Investment Research raised shares of Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 price objective on the stock in a report on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. Stryker Corporation currently has an average rating of “Hold” and an average price target 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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