Janus Henderson Group PLC Increases Stake in Stryker Corporation (SYK)
Janus Henderson Group PLC lifted its holdings in shares of Stryker Corporation (NYSE:SYK) by 2,237.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,019,254 shares of the medical technology company’s stock after acquiring an additional 975,656 shares during the period. Janus Henderson Group PLC owned 0.27% of Stryker Corporation worth $141,452,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Stryker Corporation by 2.8% during the second quarter. Vanguard Group Inc. now owns 24,078,709 shares of the medical technology company’s stock worth $3,341,643,000 after purchasing an additional 657,656 shares during the period. BlackRock Inc. lifted its holdings in shares of Stryker Corporation by 5.2% during the second quarter. BlackRock Inc. now owns 23,115,853 shares of the medical technology company’s stock worth $3,208,017,000 after purchasing an additional 1,139,082 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Stryker Corporation by 0.5% during the first quarter. Wellington Management Group LLP now owns 4,569,118 shares of the medical technology company’s stock worth $601,525,000 after purchasing an additional 24,139 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Stryker Corporation by 6.3% during the first quarter. Geode Capital Management LLC now owns 2,786,406 shares of the medical technology company’s stock worth $366,255,000 after purchasing an additional 166,133 shares during the period. Finally, Jensen Investment Management Inc. lifted its holdings in shares of Stryker Corporation by 9.9% during the second quarter. Jensen Investment Management Inc. now owns 2,220,791 shares of the medical technology company’s stock worth $308,201,000 after purchasing an additional 200,192 shares during the period. Institutional investors and hedge funds own 74.10% of the company’s stock.
Several equities research analysts recently weighed in on the company. Zacks Investment Research downgraded Stryker Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. BidaskClub downgraded Stryker Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Cowen and Company reaffirmed a “buy” rating and set a $160.00 price target (up from $150.00) on shares of Stryker Corporation in a report on Sunday, July 30th. Oppenheimer Holdings, Inc. set a $148.00 price target on Stryker Corporation and gave the stock a “hold” rating in a report on Friday, July 28th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $132.00 price target on shares of Stryker Corporation in a report on Friday, June 30th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. Stryker Corporation presently has a consensus rating of “Hold” and a consensus price target of $146.78.
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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 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 sale 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 shares were sold at an average price of $146.26, for a total value of $164,396.24. Following the completion of the sale, 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. Corporate insiders own 7.40% of the company’s stock.
Stryker Corporation (NYSE:SYK) opened at 150.49 on Friday. The firm has a market cap of $56.29 billion, a P/E ratio of 33.59 and a beta of 0.80. The stock’s 50 day moving average price is $144.25 and its 200 day moving average price is $141.08. Stryker Corporation has a 1-year low of $106.48 and a 1-year high of $150.51.
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. The business had revenue of $3.01 billion during 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 company’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.39 earnings per share. Equities research analysts predict that Stryker Corporation will post $6.45 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be issued a $0.425 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.70 annualized dividend and a dividend yield of 1.13%. Stryker Corporation’s dividend payout ratio (DPR) is 37.95%.
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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