Marble Harbor Investment Counsel LLC Trims Holdings in Stryker Corporation (SYK)
Marble Harbor Investment Counsel LLC reduced its holdings in shares of Stryker Corporation (NYSE:SYK) by 0.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,621 shares of the medical technology company’s stock after selling 100 shares during the period. Marble Harbor Investment Counsel LLC’s holdings in Stryker Corporation were worth $4,250,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in SYK. BlackRock Inc. increased its holdings in Stryker Corporation by 2,526.4% during the first quarter. BlackRock Inc. now owns 21,976,771 shares of the medical technology company’s stock valued at $2,893,242,000 after buying an additional 21,140,000 shares during the last quarter. Vanguard Group Inc. increased its holdings in Stryker Corporation by 5.2% during the first quarter. Vanguard Group Inc. now owns 23,421,053 shares of the medical technology company’s stock valued at $3,083,382,000 after buying an additional 1,161,688 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Stryker Corporation by 41.9% during the first quarter. PNC Financial Services Group Inc. now owns 1,403,420 shares of the medical technology company’s stock valued at $184,759,000 after buying an additional 414,715 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Stryker Corporation by 600.6% in the first quarter. SG Americas Securities LLC now owns 412,340 shares of the medical technology company’s stock worth $54,285,000 after purchasing an additional 353,486 shares during the period. Finally, Morgan Stanley boosted its position in shares of Stryker Corporation by 17.9% in the first quarter. Morgan Stanley now owns 2,144,472 shares of the medical technology company’s stock worth $282,320,000 after purchasing an additional 325,661 shares during the period. 74.13% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on the stock. Zacks Investment Research lowered shares of Stryker Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. BidaskClub lowered shares of Stryker Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Oppenheimer Holdings, Inc. set a $148.00 price target on shares of Stryker Corporation and gave the stock a “hold” rating in a research report on Friday, July 28th. Jefferies Group LLC reiterated a “hold” rating and issued a $132.00 price target on shares of Stryker Corporation in a research report on Friday, June 30th. Finally, Cowen and Company reiterated a “buy” rating and issued a $160.00 price target (up from $150.00) on shares of Stryker Corporation in a research report on Sunday, July 30th. Two 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. The company currently has an average rating of “Hold” and a consensus target price of $145.73.
In other Stryker Corporation news, insider Lonny J. Carpenter sold 5,000 shares of Stryker Corporation stock in a transaction on Friday, August 4th. The shares were sold at an average price of $146.36, for a total transaction of $731,800.00. Following the sale, the insider now owns 88,207 shares of the company’s stock, valued at approximately $12,909,976.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David Floyd sold 19,305 shares of Stryker Corporation stock in a transaction on Wednesday, July 12th. The stock was 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 ninety days, insiders have sold 25,429 shares of company stock worth $3,686,927. 7.40% of the stock is currently owned by corporate insiders.
Stryker Corporation (NYSE:SYK) opened at 140.14 on Tuesday. The firm’s 50-day moving average is $143.56 and its 200 day moving average is $138.98. Stryker Corporation has a 52-week low of $106.48 and a 52-week high of $148.84. The company has a market cap of $52.42 billion, a price-to-earnings ratio of 31.28 and a beta of 0.81.
Stryker Corporation (NYSE:SYK) last announced 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. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. The company had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter in the previous year, the company posted $1.39 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities research analysts predict that Stryker Corporation will post $6.46 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be paid 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 1.21%. Stryker Corporation’s dividend payout ratio (DPR) is presently 37.95%.
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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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