Stryker Corporation (SYK) Stake Increased by Parallel Advisors LLC
Parallel Advisors LLC grew its holdings in Stryker Corporation (NYSE:SYK) by 6.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,864 shares of the medical technology company’s stock after buying an additional 228 shares during the period. Parallel Advisors LLC’s holdings in Stryker Corporation were worth $568,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in SYK. Bollard Group LLC lifted its position in shares of 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 buying an additional 3 shares during the last quarter. James Investment Research Inc. acquired a new stake in shares of Stryker Corporation in the second quarter valued at approximately $155,000. Guardian Life Insurance Co. of America lifted its position in shares of 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 buying an additional 9 shares during the last quarter. Assetmark Inc. lifted its position in shares of 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 buying an additional 4 shares during the last quarter. Finally, Mosaic Family Wealth LLC lifted its position in shares of 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 buying an additional 44 shares during the last quarter. 74.13% of the stock is owned by institutional investors.
In related news, insider Graham A. Mclean sold 1,124 shares of the stock in a transaction 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 sale, the insider now owns 8,983 shares in the company, valued at $1,313,853.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David Floyd sold 19,305 shares of the stock in a transaction on Wednesday, July 12th. The stock was 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. In the last 90 days, insiders have sold 25,429 shares of company stock worth $3,686,927. Company insiders own 7.40% of the company’s stock.
A number of research firms have recently issued reports on SYK. BidaskClub raised Stryker Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Cowen and Company reissued a “buy” rating and set a $160.00 price target (up from $150.00) on shares of Stryker Corporation in a report on Sunday, July 30th. Zacks Investment Research cut Stryker Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. Canaccord Genuity reissued a “buy” rating and set a $155.00 price target (down from $158.00) on shares of Stryker Corporation in a report on Thursday, August 24th. Finally, Oppenheimer Holdings, Inc. set a $148.00 price target on Stryker Corporation and gave the stock a “hold” rating in a report on Friday, July 28th. 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 a consensus rating of “Hold” and a consensus price target of $145.73.
Stryker Corporation (NYSE SYK) opened at 142.71 on Thursday. The company has a market cap of $53.38 billion, a price-to-earnings ratio of 31.85 and a beta of 0.81. Stryker Corporation has a 52 week low of $106.48 and a 52 week high of $148.84. The stock has a 50 day moving average price of $143.56 and a 200 day moving average price of $138.98.
Stryker Corporation (NYSE:SYK) last posted its earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. The firm had revenue of $3.01 billion for 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 business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.39 earnings per share. On average, equities analysts forecast 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. Shareholders of record on Friday, September 29th will be given a dividend of $0.425 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.70 annualized dividend and a dividend yield of 1.19%. Stryker Corporation’s dividend payout ratio is currently 37.95%.
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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