Columbia Asset Management Sells 700 Shares of Stryker Corporation (SYK)
Columbia Asset Management cut its holdings in Stryker Corporation (NYSE:SYK) by 3.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,953 shares of the medical technology company’s stock after selling 700 shares during the quarter. Columbia Asset Management’s holdings in Stryker Corporation were worth $3,260,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Stryker Corporation by 2.8% in the second quarter. Vanguard Group Inc. now owns 24,078,709 shares of the medical technology company’s stock valued at $3,341,643,000 after acquiring an additional 657,656 shares during the last quarter. BlackRock Inc. boosted its stake in Stryker Corporation by 5.2% in the second quarter. BlackRock Inc. now owns 23,115,853 shares of the medical technology company’s stock valued at $3,208,017,000 after acquiring an additional 1,139,082 shares during the last quarter. Geode Capital Management LLC boosted its stake in Stryker Corporation by 6.3% in the first quarter. Geode Capital Management LLC now owns 2,786,406 shares of the medical technology company’s stock valued at $366,255,000 after acquiring an additional 166,133 shares during the last quarter. Jensen Investment Management Inc. boosted its stake in Stryker Corporation by 11.3% in the third quarter. Jensen Investment Management Inc. now owns 2,472,476 shares of the medical technology company’s stock valued at $351,141,000 after acquiring an additional 251,685 shares during the last quarter. Finally, Morgan Stanley boosted its stake in Stryker Corporation by 17.9% in the first quarter. Morgan Stanley now owns 2,144,472 shares of the medical technology company’s stock valued at $282,320,000 after acquiring an additional 325,661 shares during the last quarter. 74.15% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Stryker Corporation (SYK) traded down $1.15 during mid-day trading on Thursday, reaching $154.80. 701,100 shares of the company’s stock traded hands, compared to its average volume of 1,179,359. The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.63. Stryker Corporation has a 12-month low of $108.29 and a 12-month high of $160.62. The firm has a market cap of $58,670.00, a price-to-earnings ratio of 24.72, a P/E/G ratio of 2.46 and a beta of 0.79.
Stryker Corporation (NYSE:SYK) last issued its quarterly earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same period in the previous year, the business earned $1.39 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. equities analysts expect that Stryker Corporation will post 6.47 earnings per share for the current fiscal year.
Several equities research analysts have weighed in on SYK shares. Zacks Investment Research lowered shares of Stryker Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Royal Bank Of Canada increased their target price on shares of Stryker Corporation from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. Oppenheimer Holdings, Inc. set a $148.00 target price on shares of Stryker Corporation and gave the stock a “hold” rating in a report on Friday, July 28th. Stifel Nicolaus increased their target price on shares of Stryker Corporation from $151.00 to $158.00 and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, Cowen and Company reiterated a “buy” rating and issued a $160.00 target price (up from $150.00) on shares of Stryker Corporation in a report on Sunday, July 30th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company’s stock. Stryker Corporation presently has an average rating of “Hold” and an average target price of $152.10.
In other Stryker Corporation news, insider Lonny J. Carpenter sold 5,000 shares of Stryker Corporation 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 directly owns 83,207 shares in the company, valued at approximately $12,925,375.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.40% of the stock is currently owned by insiders.
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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