Stryker Co. (SYK) Holdings Lifted by Caxton Associates LP
Caxton Associates LP raised its holdings in Stryker Co. (NYSE:SYK) by 104.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,185 shares of the medical technology company’s stock after purchasing an additional 4,685 shares during the quarter. Caxton Associates LP’s holdings in Stryker were worth $1,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Retirement Systems of Alabama grew its stake in Stryker by 2.5% in the 3rd quarter. Retirement Systems of Alabama now owns 234,870 shares of the medical technology company’s stock valued at $33,356,000 after purchasing an additional 5,656 shares during the period. Cornerstone Capital Management Holdings LLC. grew its stake in Stryker by 3.1% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 55,255 shares of the medical technology company’s stock valued at $7,847,000 after purchasing an additional 1,683 shares during the period. Steward Partners Investment Advisory LLC bought a new position in Stryker in the 3rd quarter valued at $538,000. Signature Estate & Investment Advisors LLC grew its stake in Stryker by 5.7% in the 4th quarter. Signature Estate & Investment Advisors LLC now owns 14,958 shares of the medical technology company’s stock valued at $2,316,000 after purchasing an additional 804 shares during the period. Finally, Nuance Investments LLC grew its stake in Stryker by 10.8% in the 3rd quarter. Nuance Investments LLC now owns 24,624 shares of the medical technology company’s stock valued at $3,497,000 after purchasing an additional 2,406 shares during the period. Hedge funds and other institutional investors own 74.99% of the company’s stock.
A number of brokerages have issued reports on SYK. Needham & Company LLC restated a “hold” rating on shares of Stryker in a research note on Wednesday, January 31st. Piper Jaffray Companies reiterated a “buy” rating and set a $170.00 price target on shares of Stryker in a research note on Wednesday, January 31st. Cantor Fitzgerald reiterated a “neutral” rating and set a $163.00 price target on shares of Stryker in a research note on Friday, January 5th. Robert W. Baird upgraded Stryker from a “neutral” rating to an “outperform” rating in a research note on Friday, November 24th. Finally, Guggenheim reiterated a “buy” rating on shares of Stryker in a research note on Wednesday, January 31st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $163.85.
Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.01. The business had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.42 billion. Stryker had a return on equity of 24.56% and a net margin of 8.20%. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.78 EPS. analysts expect that Stryker Co. will post 7.12 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Thursday, March 29th will be issued a dividend of $0.47 per share. The ex-dividend date is Wednesday, March 28th. This represents a $1.88 dividend on an annualized basis and a yield of 1.13%. Stryker’s dividend payout ratio (DPR) is 38.37%.
In related news, VP William E. Berry, Jr. sold 1,306 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $164.42, for a total transaction of $214,732.52. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Katherine Ann Owen sold 3,700 shares of the stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $161.66, for a total value of $598,142.00. Following the sale, the vice president now directly owns 7,596 shares in the company, valued at approximately $1,227,969.36. The disclosure for this sale can be found here. Insiders have sold a total of 20,390 shares of company stock worth $3,324,962 in the last three months. 7.40% of the stock is currently owned by insiders.
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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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