Todd Asset Management LLC Reduces Position in Stryker Corporation (SYK)
Todd Asset Management LLC decreased its holdings in Stryker Corporation (NYSE:SYK) by 4.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 165,279 shares of the medical technology company’s stock after selling 7,034 shares during the quarter. Todd Asset Management LLC’s holdings in Stryker Corporation were worth $23,473,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Acrospire Investment Management LLC purchased a new position in shares of Stryker Corporation in the second quarter worth approximately $111,000. Motco boosted its holdings in shares of Stryker Corporation by 50.7% in the second 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. Bollard Group LLC boosted its holdings in shares of Stryker Corporation by 0.4% in the second 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. Bruderman Asset Management LLC purchased a new position in shares of Stryker Corporation in the second quarter worth approximately $150,000. Finally, James Investment Research Inc. purchased a new position in shares of Stryker Corporation in the second quarter worth approximately $155,000. 74.15% of the stock is currently owned by institutional investors.
In related news, insider Lonny J. Carpenter sold 5,000 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $155.34, for a total value of $776,700.00. Following the sale, the insider now owns 83,207 shares in the company, valued at $12,925,375.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 7.40% of the company’s stock.
Several brokerages have weighed in on SYK. Zacks Investment Research downgraded shares of Stryker Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. BidaskClub raised shares of Stryker Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Cowen and Company reaffirmed a “buy” rating and set a $160.00 price target (up previously 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 shares of Stryker Corporation and gave the company a “hold” rating in a report on Friday, July 28th. Finally, Argus reaffirmed a “buy” rating and set a $160.00 price target on shares of Stryker Corporation in a report on Tuesday, August 29th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $151.52.
Shares of Stryker Corporation (NYSE:SYK) traded down $2.14 on Monday, reaching $154.48. 1,267,200 shares of the company traded hands, compared to its average volume of 1,183,556. Stryker Corporation has a 12 month low of $106.48 and a 12 month high of $160.62. The company has a market capitalization of $58,100.00, a PE ratio of 24.48, a PEG ratio of 2.43 and a beta of 0.79. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.37 and a quick ratio of 1.61.
Stryker Corporation (NYSE:SYK) last announced its quarterly earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.02. Stryker Corporation had a net margin of 14.67% and a return on equity of 24.11%. The company had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.97 billion. During the same quarter in the previous year, the business posted $1.39 earnings per share. Stryker Corporation’s quarterly revenue was up 6.1% on a year-over-year basis. analysts anticipate that Stryker Corporation will post 6.47 earnings per share for the current year.
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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