Stryker Corporation (SYK) Shares Sold by Lazard Asset Management LLC
Lazard Asset Management LLC trimmed its holdings in shares of Stryker Corporation (NYSE:SYK) by 22.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,987,846 shares of the medical technology company’s stock after selling 573,324 shares during the quarter. Lazard Asset Management LLC owned 0.53% of Stryker Corporation worth $275,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. Acrospire Investment Management LLC purchased a new position in Stryker Corporation during the 2nd quarter worth $111,000. Bollard Group LLC grew its stake 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. Motco grew its stake 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. Bruderman Asset Management LLC purchased a new position in Stryker Corporation during the 2nd quarter worth $150,000. Finally, James Investment Research Inc. purchased a new position in Stryker Corporation during the 2nd quarter worth $155,000. Hedge funds and other institutional investors own 74.13% of the company’s stock.
SYK has been the topic of several research analyst reports. Piper Jaffray Companies restated an “overweight” rating and set a $148.00 target price on shares of Stryker Corporation in a research note on Thursday, August 24th. Needham & Company LLC upgraded Stryker Corporation from an “underperform” rating to a “hold” rating in a research note on Friday, August 25th. Cantor Fitzgerald initiated coverage on Stryker Corporation in a research note on Thursday, June 29th. They set a “neutral” rating and a $153.00 target price on the stock. Morgan Stanley restated an “overweight” rating and set a $160.00 target price (up from $155.00) on shares of Stryker Corporation in a research note on Monday, July 10th. Finally, Zacks Investment Research upgraded Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 target price on the stock in a research note on Monday, July 17th. 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 stock. The company currently has a consensus rating of “Hold” and a consensus target price of $146.78.
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Shares of Stryker Corporation (SYK) opened at 144.69 on Wednesday. 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 price is $142.48 and its 200-day moving average price is $140.29. The firm has a market cap of $54.12 billion, a PE ratio of 32.30 and a beta of 0.80.
Stryker Corporation (NYSE:SYK) last issued its quarterly earnings data on Thursday, July 27th. The medical technology company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. The company 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%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.39 earnings per share. Analysts expect that Stryker Corporation will post $6.45 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Thursday, September 28th. Stryker Corporation’s payout ratio is 37.95%.
In other news, insider Graham A. Mclean sold 1,124 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $146.26, for a total transaction of $164,396.24. Following the completion of the sale, the insider now owns 8,983 shares in the company, valued at $1,313,853.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Lonny J. Carpenter sold 5,000 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $146.36, for a total transaction of $731,800.00. Following the sale, 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. 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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