ProShare Advisors LLC Has $4.18 Million Position in Stryker Corporation (SYK)
ProShare Advisors LLC trimmed its stake in shares of Stryker Corporation (NYSE:SYK) by 2.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,134 shares of the medical technology company’s stock after selling 890 shares during the period. ProShare Advisors LLC’s holdings in Stryker Corporation were worth $4,182,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Lockheed Martin Investment Management Co. acquired a new stake in Stryker Corporation during the second quarter worth about $1,249,000. JPMorgan Chase & Co. grew its holdings in Stryker Corporation by 276.9% in the first quarter. JPMorgan Chase & Co. now owns 269,555 shares of the medical technology company’s stock valued at $35,487,000 after purchasing an additional 198,035 shares during the period. BB&T Corp grew its holdings in Stryker Corporation by 5.7% in the second quarter. BB&T Corp now owns 56,546 shares of the medical technology company’s stock valued at $7,847,000 after purchasing an additional 3,060 shares during the period. JLB & Associates Inc. acquired a new stake in Stryker Corporation in the second quarter valued at approximately $5,090,000. Finally, British Columbia Investment Management Corp grew its holdings in Stryker Corporation by 10.7% in the first quarter. British Columbia Investment Management Corp now owns 133,596 shares of the medical technology company’s stock valued at $17,588,000 after purchasing an additional 12,871 shares during the period. 74.13% of the stock is currently owned by hedge funds and other institutional investors.
Stryker Corporation (NYSE 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 stock has a market capitalization of $55.74 billion, a price-to-earnings ratio of 33.26 and a beta of 0.81. The company 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 released its quarterly earnings data on Thursday, July 27th. The medical technology company reported $1.53 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the previous year, the business earned $1.39 EPS. Stryker Corporation’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities research analysts predict that Stryker Corporation will post $6.46 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a dividend of $0.425 per share. 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 dividend payout ratio is 37.95%.
Several analysts have commented on the company. Cowen and Company set a $160.00 price objective on Stryker Corporation and gave the company a “buy” rating in a report on Friday. Royal Bank Of Canada reiterated 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. reiterated a “buy” rating and set a $161.00 price objective on shares of Stryker Corporation in a research report on Monday, October 2nd. Argus reiterated 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 downgraded Stryker Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, August 26th. 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’s stock. The company presently has a consensus rating of “Hold” and an average price target of $146.78.
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In other Stryker Corporation news, insider Lonny J. Carpenter sold 5,000 shares of the company’s stock in a transaction dated 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 directly owns 88,207 shares of the company’s stock, valued at $12,909,976.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Graham A. Mclean sold 1,124 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $146.26, for a total transaction of $164,396.24. Following the sale, the insider now directly owns 8,983 shares in the company, valued at $1,313,853.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,429 shares of company stock valued at $3,686,927. Company insiders own 7.40% of the company’s stock.
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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