Stryker Corporation (SYK) Position Cut by Russell Investments Group Ltd.
Russell Investments Group Ltd. decreased its position in Stryker Corporation (NYSE:SYK) by 6.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 500,335 shares of the medical technology company’s stock after selling 35,167 shares during the period. Russell Investments Group Ltd. owned approximately 0.13% of Stryker Corporation worth $71,053,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. lifted its holdings in Stryker Corporation by 3.7% in the second quarter. Coldstream Capital Management Inc. now owns 17,445 shares of the medical technology company’s stock valued at $2,421,000 after buying an additional 626 shares during the period. Retirement Systems of Alabama lifted its holdings in Stryker Corporation by 2.5% in the third quarter. Retirement Systems of Alabama now owns 234,870 shares of the medical technology company’s stock valued at $33,356,000 after buying an additional 5,656 shares during the period. Lockheed Martin Investment Management Co. bought a new stake in Stryker Corporation in the second quarter valued at $1,249,000. Toronto Dominion Bank increased its stake in Stryker Corporation by 25.8% in the second quarter. Toronto Dominion Bank now owns 105,403 shares of the medical technology company’s stock valued at $14,625,000 after purchasing an additional 21,585 shares in the last quarter. Finally, Colonial Trust Advisors increased its stake in Stryker Corporation by 56.1% in the second quarter. Colonial Trust Advisors now owns 23,446 shares of the medical technology company’s stock valued at $3,254,000 after purchasing an additional 8,426 shares in the last quarter. Institutional investors and hedge funds own 74.15% of the company’s stock.
In other news, insider Lonny J. Carpenter sold 5,000 shares of the 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 transaction, the insider now owns 83,207 shares of the company’s stock, valued at approximately $12,925,375.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 7.40% of the company’s stock.
Shares of Stryker Corporation (SYK) traded up $1.68 during mid-day trading on Friday, hitting $156.48. 1,281,600 shares of the company were exchanged, compared to its average volume of 1,179,819. Stryker Corporation has a 12 month low of $108.29 and a 12 month high of $160.62. The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.63. The stock has a market cap of $57,931.98, a PE ratio of 24.53, a P/E/G ratio of 2.44 and a beta of 0.79.
Stryker Corporation (NYSE:SYK) last posted its earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.97 billion. During the same period in the prior year, the company posted $1.39 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. sell-side analysts anticipate that Stryker Corporation will post 6.47 EPS for the current fiscal year.
Several research firms have weighed in on SYK. Royal Bank Of Canada reissued a “buy” rating and set a $155.00 target price on shares of Stryker Corporation in a research report on Friday, September 1st. Argus reissued a “buy” rating and set a $160.00 target price on shares of Stryker Corporation in a research report on Tuesday, August 29th. Zacks Investment Research downgraded shares of Stryker Corporation from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Cowen and Company set a $160.00 target price on shares of Stryker Corporation and gave the stock a “buy” rating in a research report on Friday, October 6th. Finally, Needham & Company LLC raised shares of Stryker Corporation from an “underperform” rating to a “hold” rating in a research report on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $152.10.
About Stryker Corporation
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.
Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Corporation (NYSE:SYK).
Receive News & Stock Ratings for Stryker Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stryker Corporation and related stocks with our FREE daily email newsletter.