Dillon & Associates Inc. Cuts Holdings in Stryker Corporation (SYK)
Dillon & Associates Inc. lowered its position in shares of Stryker Corporation (NYSE:SYK) by 0.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 99,362 shares of the medical technology company’s stock after selling 665 shares during the quarter. Stryker Corporation accounts for 5.7% of Dillon & Associates Inc.’s investment portfolio, making the stock its 2nd largest holding. Dillon & Associates Inc.’s holdings in Stryker Corporation were worth $13,811,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Motco raised its position in Stryker Corporation by 50.7% during the 2nd quarter. Motco now owns 826 shares of the medical technology company’s stock worth $115,000 after buying an additional 278 shares during the last quarter. Bollard Group LLC raised its position in Stryker Corporation by 0.4% during the 2nd quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock worth $115,000 after buying an additional 3 shares during the last quarter. James Investment Research Inc. purchased a new position in Stryker Corporation during the 2nd quarter worth $155,000. Guardian Life Insurance Co. of America raised its position in Stryker Corporation by 0.8% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,199 shares of the medical technology company’s stock worth $158,000 after buying an additional 9 shares during the last quarter. Finally, Assetmark Inc. raised its position in Stryker Corporation by 0.3% during the 1st quarter. Assetmark Inc. now owns 1,274 shares of the medical technology company’s stock worth $168,000 after buying an additional 4 shares during the last quarter. Institutional investors own 74.13% of the company’s stock.
In other Stryker Corporation news, insider David Floyd sold 19,305 shares of Stryker Corporation stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $144.56, for a total transaction of $2,790,730.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Graham A. Mclean sold 1,124 shares of Stryker Corporation stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $146.26, for a total value of $164,396.24. Following the transaction, the insider now directly owns 8,983 shares in the company, valued at approximately $1,313,853.58. The disclosure for this sale can be found here. Insiders sold a total of 25,429 shares of company stock worth $3,686,927 in the last three months. 7.40% of the stock is currently owned by company insiders.
A number of brokerages have commented on SYK. Zacks Investment Research downgraded shares of Stryker Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. BidaskClub downgraded 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 objective on shares of Stryker Corporation and gave the stock a “hold” rating in a research report on Friday, July 28th. Jefferies Group LLC restated a “hold” rating and set a $132.00 price objective on shares of Stryker Corporation in a research report on Friday, June 30th. Finally, Cowen and Company restated a “buy” rating and set a $160.00 price objective (up previously from $150.00) on shares of Stryker Corporation in a research report on Sunday, July 30th. Two 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 an average price target of $145.73.
Shares of Stryker Corporation (NYSE:SYK) opened at 142.02 on Friday. The firm has a market capitalization of $53.12 billion, a PE ratio of 31.70 and a beta of 0.81. Stryker Corporation has a 1-year low of $106.48 and a 1-year high of $148.84. The firm’s 50 day moving average is $143.56 and its 200 day moving average is $138.98.
Stryker Corporation (NYSE:SYK) last issued its quarterly earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.02. The firm had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. Stryker Corporation’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $1.39 EPS. Analysts anticipate that Stryker Corporation will post $6.46 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be paid a $0.425 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.70 dividend on an annualized basis and a yield of 1.20%. Stryker Corporation’s dividend payout ratio is currently 37.95%.
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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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