Stryker Corporation (SYK) Position Decreased by Boston Family Office LLC
Boston Family Office LLC reduced its holdings in shares of Stryker Corporation (NYSE:SYK) by 2.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 54,885 shares of the medical technology company’s stock after selling 1,330 shares during the quarter. Boston Family Office LLC’s holdings in Stryker Corporation were worth $7,617,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Bollard Group LLC raised its position in Stryker Corporation by 0.4% in 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 during the last quarter. James Investment Research Inc. bought a new position in Stryker Corporation in the second quarter valued at about $155,000. Guardian Life Insurance Co. of America raised its position in Stryker Corporation by 0.8% in 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 during the last quarter. Assetmark Inc. raised its position in Stryker Corporation by 0.3% in 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 during the last quarter. Finally, Mosaic Family Wealth LLC raised its position in Stryker Corporation by 3.5% in 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 during the last quarter. Institutional investors and hedge funds own 74.18% of the company’s stock.
Several equities analysts have commented on the company. BidaskClub upgraded Stryker Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Cowen and Company reiterated a “buy” rating and issued a $160.00 target price (up from $150.00) on shares of Stryker Corporation in a research report on Sunday, July 30th. Zacks Investment Research downgraded Stryker Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Canaccord Genuity reiterated a “buy” rating and issued a $155.00 target price (down from $158.00) on shares of Stryker Corporation in a research report on Thursday, August 24th. Finally, Oppenheimer Holdings, Inc. set a $148.00 target price on Stryker Corporation and gave the company a “hold” rating in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Stryker Corporation currently has a consensus rating of “Hold” and a consensus target price of $145.73.
Shares of Stryker Corporation (SYK) opened at 143.88 on Friday. The firm has a market cap of $53.82 billion, a PE ratio of 32.12 and a beta of 0.81. The company’s 50-day moving average price is $143.77 and its 200 day moving average price is $138.65. Stryker Corporation has a 1-year low of $106.48 and a 1-year high of $148.84.
Stryker Corporation (NYSE:SYK) last released its quarterly earnings results on Thursday, July 27th. The medical technology company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.98 billion. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. Stryker Corporation’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.39 EPS. On average, analysts predict that Stryker Corporation will post $6.46 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders 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 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 Stryker Corporation news, insider Lonny J. Carpenter sold 5,000 shares of the company’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 transaction, the insider now owns 88,207 shares in the company, valued at approximately $12,909,976.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Graham A. Mclean sold 1,124 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $146.26, for a total value of $164,396.24. Following the transaction, the insider now owns 8,983 shares in the company, valued at approximately $1,313,853.58. 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 in the last ninety days. 7.40% of the stock is currently owned by corporate insiders.
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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.
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