Raymond James Trust N.A. Boosts Position in Stryker Co. (SYK)
Raymond James Trust N.A. increased its position in shares of Stryker Co. (NYSE:SYK) by 2.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,648 shares of the medical technology company’s stock after buying an additional 285 shares during the quarter. Raymond James Trust N.A.’s holdings in Stryker were worth $2,893,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of SYK. Ropes Wealth Advisors LLC increased its holdings in Stryker by 41.6% during the 1st quarter. Ropes Wealth Advisors LLC now owns 708 shares of the medical technology company’s stock worth $140,000 after purchasing an additional 208 shares in the last quarter. Retirement Systems of Alabama increased its holdings in Stryker by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 275,728 shares of the medical technology company’s stock worth $54,462,000 after purchasing an additional 878 shares in the last quarter. Landsberg Bennett & Dubbaneh LLC increased its holdings in Stryker by 62.4% during the 1st quarter. Landsberg Bennett & Dubbaneh LLC now owns 19,956 shares of the medical technology company’s stock worth $3,888,000 after purchasing an additional 7,667 shares in the last quarter. Lodestar Investment Counsel LLC IL bought a new stake in Stryker during the 1st quarter worth approximately $237,000. Finally, D.B. Root & Company LLC increased its holdings in Stryker by 42.5% during the 1st quarter. D.B. Root & Company LLC now owns 1,674 shares of the medical technology company’s stock worth $331,000 after purchasing an additional 499 shares in the last quarter. 74.58% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Timothy J. Scannell sold 5,282 shares of the company’s stock in a transaction that occurred on Wednesday, January 16th. The stock was sold at an average price of $163.50, for a total value of $863,607.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP M Kathryn Fink sold 180 shares of the company’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $176.77, for a total value of $31,818.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 131,071 shares of company stock worth $24,689,161. 7.20% of the stock is owned by company insiders.
Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, January 29th. The medical technology company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. Stryker had a return on equity of 27.60% and a net margin of 26.12%. The business had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.73 billion. On average, research analysts expect that Stryker Co. will post 8.13 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $2.08 annualized dividend and a yield of 1.08%. Stryker’s payout ratio is 28.45%.
SYK has been the subject of a number of recent research reports. Zacks Investment Research raised Stryker from a “hold” rating to a “buy” rating and set a $199.00 price objective for the company in a report on Monday, February 4th. Canaccord Genuity boosted their price objective on Stryker from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, January 30th. Deutsche Bank initiated coverage on Stryker in a report on Wednesday, January 2nd. They set a “buy” rating and a $179.00 price objective for the company. Barclays set a $203.00 price objective on Stryker and gave the stock a “buy” rating in a report on Friday, March 8th. Finally, BTIG Research upped their target price on Stryker to $211.00 and gave the company a “buy” rating in a report on Monday, March 18th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Stryker currently has an average rating of “Buy” and an average price target of $192.13.
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Stryker Company Profile
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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