Stryker Corporation (SYK) Stake Lessened by Cobblestone Capital Advisors LLC NY
Cobblestone Capital Advisors LLC NY decreased its position in Stryker Corporation (NYSE:SYK) by 1.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 6,800 shares of the medical technology company’s stock after selling 100 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Stryker Corporation were worth $944,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the company. Bollard Group LLC boosted its holdings 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 acquiring an additional 3 shares in the last quarter. James Investment Research Inc. bought a new stake in Stryker Corporation in the second quarter valued at $155,000. Guardian Life Insurance Co. of America boosted its holdings 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 acquiring an additional 9 shares in the last quarter. Assetmark Inc. boosted its holdings 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 acquiring an additional 4 shares in the last quarter. Finally, Mosaic Family Wealth LLC boosted its holdings 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 acquiring an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 74.13% of the company’s stock.
In related news, insider Graham A. Mclean sold 1,124 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $146.26, for a total transaction of $164,396.24. Following the sale, the insider now owns 8,983 shares of the company’s stock, valued at $1,313,853.58. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Lonny J. Carpenter sold 5,000 shares of the firm’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 sale, the insider now directly owns 88,207 shares in the company, valued at approximately $12,909,976.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,429 shares of company stock worth $3,686,927. 7.40% of the stock is owned by corporate insiders.
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Stryker Corporation (NYSE SYK) opened at 144.53 on Tuesday. The stock has a market cap of $54.06 billion, a price-to-earnings ratio of 32.26 and a beta of 0.81. The stock has a 50 day moving average price of $143.68 and a 200 day moving average price of $138.88. Stryker Corporation has a 52-week low of $106.48 and a 52-week high of $148.84.
Stryker Corporation (NYSE:SYK) last issued its quarterly earnings data on Thursday, July 27th. The medical technology company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter last year, the company earned $1.39 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. Analysts expect that Stryker Corporation will post $6.46 EPS for the current fiscal year.
The business also recently disclosed 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 yield of 1.18%. The ex-dividend date is Thursday, September 28th. Stryker Corporation’s payout ratio is currently 37.95%.
Several analysts recently weighed in on SYK shares. BidaskClub cut shares of Stryker Corporation from a “strong-buy” rating to a “buy” rating in a report 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 target on the stock in a report on Monday, July 17th. Stifel Nicolaus lifted their price target on shares of Stryker Corporation from $151.00 to $158.00 and gave the company a “buy” rating in a report on Friday, July 28th. Cowen and Company reiterated a “buy” rating and issued a $160.00 price target (up previously from $150.00) on shares of Stryker Corporation in a report on Sunday, July 30th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $155.00 price target (down previously from $158.00) on shares of Stryker Corporation in a report on Thursday, August 24th. Two equities 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. Stryker Corporation currently 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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