Rock Point Advisors LLC Increases Holdings in Stryker Corporation (SYK)
Rock Point Advisors LLC boosted its position in Stryker Corporation (NYSE:SYK) by 0.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 52,732 shares of the medical technology company’s stock after purchasing an additional 63 shares during the period. Stryker Corporation comprises 3.4% of Rock Point Advisors LLC’s portfolio, making the stock its 11th biggest holding. Rock Point Advisors LLC’s holdings in Stryker Corporation were worth $7,318,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in SYK. Motco lifted its position in shares of Stryker Corporation by 50.7% during the 2nd quarter. Motco now owns 826 shares of the medical technology company’s stock valued at $115,000 after buying an additional 278 shares in the last quarter. Bollard Group LLC lifted its position in shares of Stryker Corporation by 0.4% during the 2nd 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 in the last quarter. James Investment Research Inc. purchased a new position in shares of Stryker Corporation during the 2nd quarter valued at about $155,000. Guardian Life Insurance Co. of America lifted its position in shares of 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 valued at $158,000 after buying an additional 9 shares in the last quarter. Finally, Assetmark Inc. lifted its position in shares of Stryker Corporation by 0.3% during the 1st 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 in the last quarter. 74.13% of the stock is currently owned by institutional investors and hedge funds.
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In other news, insider Lonny J. Carpenter sold 5,000 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $146.36, for a total transaction of $731,800.00. Following the completion of the sale, the insider now directly owns 88,207 shares in the company, valued at approximately $12,909,976.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Graham A. Mclean sold 1,124 shares of the company’s 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 of the company’s stock, valued at $1,313,853.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,429 shares of company stock worth $3,686,927. 7.40% of the stock is owned by corporate insiders.
Shares of Stryker Corporation (NYSE SYK) opened at 149.00 on Friday. The company has a market cap of $55.74 billion, a P/E ratio of 33.26 and a beta of 0.80. Stryker Corporation has a 1-year low of $106.48 and a 1-year high of $149.23. The firm has a 50-day moving average price of $142.44 and a 200-day moving average price of $139.99.
Stryker Corporation (NYSE:SYK) last announced its quarterly earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.02. The company had revenue of $3.01 billion during 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%. Stryker Corporation’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.39 EPS. On average, equities analysts expect that Stryker Corporation will post $6.46 EPS for the current year.
The business also recently announced 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. This represents a $1.70 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, September 28th. Stryker Corporation’s payout ratio is currently 37.95%.
A number of research firms have recently weighed in on SYK. Cowen and Company set a $160.00 price objective on Stryker Corporation and gave the company a “buy” rating in a research report on Friday. Royal Bank Of Canada reaffirmed a “buy” rating and set a $155.00 price objective on shares of Stryker Corporation in a research report on Monday, October 2nd. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $161.00 price objective on shares of Stryker Corporation in a research report on Monday, October 2nd. Argus reaffirmed a “buy” rating and set a $160.00 price objective on shares of Stryker Corporation in a research report on Tuesday, August 29th. Finally, BidaskClub cut Stryker Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, August 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $146.78.
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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