WealthTrust Fairport LLC Sells 1,243 Shares of Stryker Corporation (SYK)
WealthTrust Fairport LLC reduced its position in Stryker Corporation (NYSE:SYK) by 1.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 74,944 shares of the medical technology company’s stock after selling 1,243 shares during the quarter. Stryker Corporation comprises about 1.1% of WealthTrust Fairport LLC’s holdings, making the stock its 18th largest position. WealthTrust Fairport LLC’s holdings in Stryker Corporation were worth $10,401,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in SYK. BlackRock Inc. increased its stake in Stryker Corporation by 2,526.4% in the 1st 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 period. Vanguard Group Inc. increased its stake in Stryker Corporation by 5.2% in the 1st 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 period. PNC Financial Services Group Inc. increased its stake in Stryker Corporation by 41.9% in the 1st 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 period. SG Americas Securities LLC increased its stake in Stryker Corporation by 600.6% in the 1st quarter. SG Americas Securities LLC now owns 412,340 shares of the medical technology company’s stock valued at $54,285,000 after buying an additional 353,486 shares during the period. Finally, Morgan Stanley increased its stake in Stryker Corporation by 17.9% in the 1st quarter. Morgan Stanley now owns 2,144,472 shares of the medical technology company’s stock valued at $282,320,000 after buying an additional 325,661 shares during the period. 74.13% of the stock is currently 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 completion of the transaction, the insider now owns 8,983 shares in the company, valued at approximately $1,313,853.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lonny J. Carpenter sold 5,000 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $146.36, for a total value of $731,800.00. Following the completion of the transaction, the insider now owns 88,207 shares of the company’s stock, valued at approximately $12,909,976.52. The disclosure for this sale can be found here. Over 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.
Several equities analysts have issued reports on the stock. Royal Bank Of Canada reissued a “buy” rating and issued a $155.00 price objective on shares of Stryker Corporation in a research note on Friday, September 1st. Argus reaffirmed a “buy” rating and set a $160.00 price target on shares of Stryker Corporation in a research note on Tuesday, August 29th. BidaskClub cut shares of Stryker Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 26th. Needham & Company LLC raised shares of Stryker Corporation from an “underperform” rating to a “hold” rating in a research note on Friday, August 25th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $148.00 price target on shares of Stryker Corporation in a research note 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 given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $145.73.
Stryker Corporation (NYSE SYK) opened at 142.02 on Friday. Stryker Corporation has a 12-month low of $106.48 and a 12-month high of $148.84. The stock has a market capitalization of $53.12 billion, a price-to-earnings ratio of 31.70 and a beta of 0.81. The firm has a 50-day moving average of $143.56 and a 200-day moving average of $138.98.
Stryker Corporation (NYSE:SYK) last released its earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The firm had revenue of $3.01 billion for 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 revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.39 earnings per share. Equities research analysts forecast that Stryker Corporation will post $6.46 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be issued a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Thursday, September 28th. Stryker Corporation’s payout ratio is currently 37.95%.
Stryker Corporation 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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