Traders Sell Stryker Co. (SYK) on Strength (SYK)
Traders sold shares of Stryker Co. (NYSE:SYK) on strength during trading on Tuesday. $28.73 million flowed into the stock on the tick-up and $58.14 million flowed out of the stock on the tick-down, for a money net flow of $29.41 million out of the stock. Of all companies tracked, Stryker had the 0th highest net out-flow for the day. Stryker traded up $1.50 for the day and closed at $148.79
Several analysts have issued reports on SYK shares. Piper Jaffray Companies reissued an “overweight” rating and set a $148.00 price target on shares of Stryker in a report on Thursday, August 24th. Needham & Company LLC raised Stryker from an “underperform” rating to a “hold” rating in a report on Friday, August 25th. Morgan Stanley reissued an “overweight” rating and set a $160.00 price target (up previously from $155.00) on shares of Stryker in a report on Monday, July 10th. Cantor Fitzgerald started coverage on Stryker in a report on Thursday, June 29th. They set a “neutral” rating and a $153.00 price target for the company. Finally, Zacks Investment Research raised Stryker from a “hold” rating to a “buy” rating and set a $163.00 price target for the company in a report on Monday, July 17th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $146.78.
The firm has a market cap of $55.60 billion, a price-to-earnings ratio of 33.18 and a beta of 0.80. The company’s 50-day moving average is $143.70 and its 200 day moving average is $140.89.
Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, July 27th. The medical technology company reported $1.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.02. Stryker had a return on equity of 15.89% and a net margin of 12.98%. The company had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the previous year, the firm posted $1.39 EPS. Stryker’s revenue was up 6.1% compared to the same quarter last year. Analysts predict that Stryker Co. will post $6.45 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, September 28th. Stryker’s payout ratio is 37.95%.
In related news, insider Graham A. Mclean sold 1,124 shares of Stryker stock in a transaction dated 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 directly owns 8,983 shares in the company, valued at approximately $1,313,853.58. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lonny J. Carpenter sold 5,000 shares of Stryker stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $146.36, for a total value of $731,800.00. Following the completion of the sale, the insider now owns 88,207 shares in the company, valued at $12,909,976.52. The disclosure for this sale can be found here. Insiders own 7.40% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tandem Investment Advisors Inc. lifted its stake in Stryker by 1.5% in the 3rd quarter. Tandem Investment Advisors Inc. now owns 47,331 shares of the medical technology company’s stock worth $6,722,000 after purchasing an additional 713 shares in the last quarter. Curbstone Financial Management Corp lifted its stake in Stryker by 86.9% in the 3rd quarter. Curbstone Financial Management Corp now owns 3,560 shares of the medical technology company’s stock worth $506,000 after purchasing an additional 1,655 shares in the last quarter. Intl Fcstone Inc. purchased a new position in Stryker in the 2nd quarter worth approximately $287,000. Gs Investments Inc. purchased a new position in Stryker in the 2nd quarter worth approximately $2,555,000. Finally, USA Financial Portformulas Corp purchased a new position in Stryker in the 2nd quarter worth approximately $3,388,000. 74.10% of the stock is currently owned by institutional investors and hedge funds.
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Stryker 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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