KBC Group NV Raises Stake in Stryker Corporation (SYK)
KBC Group NV lifted its stake in shares of Stryker Corporation (NYSE:SYK) by 5.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,690 shares of the medical technology company’s stock after acquiring an additional 2,152 shares during the quarter. KBC Group NV’s holdings in Stryker Corporation were worth $5,647,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of SYK. Bollard Group LLC boosted its stake in shares of Stryker Corporation by 0.4% during the second quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock valued at $115,000 after purchasing an additional 3 shares in the last quarter. James Investment Research Inc. bought a new position in shares of Stryker Corporation during the second quarter valued at approximately $155,000. Guardian Life Insurance Co. of America boosted its stake in shares of Stryker Corporation by 0.8% during the first quarter. Guardian Life Insurance Co. of America now owns 1,199 shares of the medical technology company’s stock valued at $158,000 after purchasing an additional 9 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Stryker Corporation by 0.3% during the first quarter. Assetmark Inc. now owns 1,274 shares of the medical technology company’s stock valued at $168,000 after purchasing an additional 4 shares in the last quarter. Finally, Mosaic Family Wealth LLC boosted its stake in shares of Stryker Corporation by 3.5% during the first quarter. Mosaic Family Wealth LLC now owns 1,300 shares of the medical technology company’s stock valued at $171,000 after purchasing an additional 44 shares in the last quarter. 74.18% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Stryker Corporation (NYSE SYK) opened at 143.88 on Friday. The stock’s 50 day moving average is $143.77 and its 200 day moving average is $138.65. The firm has a market capitalization of $53.82 billion, a P/E ratio of 32.12 and a beta of 0.81. Stryker Corporation has a 1-year low of $106.48 and a 1-year high of $148.84.
Stryker Corporation (NYSE:SYK) last issued its earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.02. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter in the prior year, the business posted $1.39 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities analysts predict that Stryker Corporation will post $6.46 earnings per share for the current 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 issued a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, September 28th. Stryker Corporation’s payout ratio is 37.95%.
In other news, insider Graham A. Mclean sold 1,124 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were 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 owns 8,983 shares in the company, valued at approximately $1,313,853.58. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider David Floyd sold 19,305 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 25,429 shares of company stock valued at $3,686,927. Company insiders own 7.40% of the company’s stock.
SYK has been the topic of a number of recent research reports. BidaskClub downgraded shares of Stryker Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Zacks Investment Research upgraded shares of Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 price objective on the stock in a research note on Monday, July 17th. Stifel Nicolaus increased their price objective on shares of Stryker Corporation from $151.00 to $158.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Cowen and Company reiterated a “buy” rating and set a $160.00 price objective (up from $150.00) on shares of Stryker Corporation in a research note on Sunday, July 30th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $155.00 price objective (down from $158.00) on shares of Stryker Corporation in a research note on Thursday, August 24th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock 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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