Garner Asset Management Corp Buys 161 Shares of Stryker Co. (SYK)
Garner Asset Management Corp lifted its stake in shares of Stryker Co. (NYSE:SYK) by 5.3% during the 1st quarter, Holdings Channel reports. The firm owned 3,175 shares of the medical technology company’s stock after purchasing an additional 161 shares during the quarter. Garner Asset Management Corp’s holdings in Stryker were worth $627,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of SYK. ERTS Wealth Advisors LLC purchased a new stake in shares of Stryker during the 4th quarter valued at approximately $25,000. Northwest Wealth Management LLC raised its position in shares of Stryker by 103.6% during the 4th quarter. Northwest Wealth Management LLC now owns 169 shares of the medical technology company’s stock valued at $26,000 after buying an additional 86 shares during the period. Semmax Financial Advisors Inc. purchased a new stake in shares of Stryker during the 4th quarter valued at approximately $28,000. Horan Securities Inc. purchased a new stake in shares of Stryker during the 4th quarter valued at approximately $30,000. Finally, Truehand Inc purchased a new stake in shares of Stryker during the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 74.61% of the company’s stock.
Several research firms have recently commented on SYK. Canaccord Genuity lifted their price target on shares of Stryker from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday. Deutsche Bank lifted their price target on shares of Stryker from $181.00 to $208.00 and gave the company a “buy” rating in a research report on Wednesday. Cantor Fitzgerald lifted their price target on shares of Stryker from $175.00 to $190.00 and gave the company a “neutral” rating in a research report on Wednesday. Zacks Investment Research lowered shares of Stryker from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Finally, Robert W. Baird lifted their price target on shares of Stryker from $201.00 to $206.00 and gave the company an “outperform” rating in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Stryker currently has a consensus rating of “Buy” and an average target price of $195.99.
Stryker (NYSE:SYK) last announced its earnings results on Tuesday, April 23rd. The medical technology company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.04. The company had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.51 billion. Stryker had a return on equity of 27.60% and a net margin of 26.12%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.68 earnings per share. Analysts predict that Stryker Co. will post 8.13 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders 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 dividend yield of 1.12%. Stryker’s dividend payout ratio (DPR) is 28.45%.
In other Stryker news, VP M Kathryn Fink sold 180 shares of the business’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $176.77, for a total value of $31,818.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Timothy J. Scannell sold 4,666 shares of the business’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $192.40, for a total transaction of $897,738.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 130,455 shares of company stock valued at $24,723,292. Insiders own 7.20% of the company’s stock.
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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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