BT Investment Management Ltd Purchases New Position in Stryker Corporation (SYK)
BT Investment Management Ltd purchased a new stake in Stryker Corporation (NYSE:SYK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,710 shares of the medical technology company’s stock, valued at approximately $237,000.
Several other institutional investors and hedge funds also recently bought and sold shares of SYK. UBS Asset Management Americas Inc. raised its holdings in Stryker Corporation by 10.4% in the 1st quarter. UBS Asset Management Americas Inc. now owns 1,026,598 shares of the medical technology company’s stock valued at $135,152,000 after buying an additional 97,027 shares during the last quarter. BARING ASSET MANAGEMENT Ltd raised its holdings in Stryker Corporation by 25.0% in the 1st quarter. BARING ASSET MANAGEMENT Ltd now owns 5,761 shares of the medical technology company’s stock valued at $758,000 after buying an additional 1,151 shares during the last quarter. British Columbia Investment Management Corp raised its holdings in Stryker Corporation by 10.7% in the 1st quarter. British Columbia Investment Management Corp now owns 133,596 shares of the medical technology company’s stock valued at $17,588,000 after buying an additional 12,871 shares during the last quarter. Teza Capital Management LLC bought a new position in Stryker Corporation in the 1st quarter valued at approximately $1,024,000. Finally, Suncoast Equity Management bought a new position in Stryker Corporation in the 1st quarter valued at approximately $6,459,000. Institutional investors own 74.13% of the company’s stock.
In related news, insider Lonny J. Carpenter sold 5,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 88,207 shares in the company, valued at $12,909,976.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Graham A. Mclean sold 1,124 shares of the company’s stock in a transaction that occurred on 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 owns 8,983 shares of the company’s stock, valued at approximately $1,313,853.58. The disclosure for this sale can be found here. Insiders sold 25,429 shares of company stock valued at $3,686,927 in the last quarter. Corporate insiders own 7.40% of the company’s stock.
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Stryker Corporation (SYK) opened at 149.00 on Monday. Stryker Corporation has a 12-month low of $106.48 and a 12-month high of $149.23. The firm’s 50-day moving average is $142.44 and its 200 day moving average is $139.99. The company has a market cap of $55.74 billion, a price-to-earnings ratio of 33.26 and a beta of 0.81.
Stryker Corporation (NYSE:SYK) last announced its quarterly earnings data on Thursday, July 27th. The medical technology company reported $1.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.02. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the previous year, the company posted $1.39 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. On average, equities analysts expect that Stryker Corporation will post $6.46 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a $0.425 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.70 annualized dividend and a yield of 1.14%. Stryker Corporation’s payout ratio is currently 37.95%.
A number of brokerages recently issued reports on SYK. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $161.00 price objective on shares of Stryker Corporation in a report on Monday, October 2nd. Stifel Nicolaus raised their price objective on shares of Stryker Corporation from $151.00 to $158.00 and gave the company a “buy” rating in a report on Friday, July 28th. BidaskClub lowered shares of Stryker Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Canaccord Genuity reiterated a “buy” rating and issued a $155.00 price objective (down previously from $158.00) on shares of Stryker Corporation in a report on Thursday, August 24th. Finally, Argus reiterated a “buy” rating and issued a $160.00 price objective on shares of Stryker Corporation in a report on Tuesday, August 29th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $146.78.
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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