1,300 Shares in Stryker Co. (NYSE:SYK) Bought by Secure Asset Management LLC
Secure Asset Management LLC purchased a new position in Stryker Co. (NYSE:SYK) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,300 shares of the medical technology company’s stock, valued at approximately $273,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Stone Ridge Asset Management LLC bought a new stake in shares of Stryker during the fourth quarter worth $5,878,000. Teacher Retirement System of Texas lifted its position in shares of Stryker by 5.2% during the fourth quarter. Teacher Retirement System of Texas now owns 151,595 shares of the medical technology company’s stock worth $31,826,000 after purchasing an additional 7,550 shares during the last quarter. ICW Investment Advisors LLC bought a new stake in shares of Stryker during the fourth quarter worth $705,000. Pinnacle Financial Partners Inc. lifted its position in shares of Stryker by 105.3% during the fourth quarter. Pinnacle Financial Partners Inc. now owns 5,707 shares of the medical technology company’s stock worth $1,199,000 after purchasing an additional 2,927 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of Stryker by 27.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 103,283 shares of the medical technology company’s stock worth $21,684,000 after purchasing an additional 22,077 shares during the last quarter. Institutional investors own 73.29% of the company’s stock.
In other news, COO Timothy J. Scannell sold 4,666 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $206.28, for a total transaction of $962,502.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 7.20% of the company’s stock.
Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $2.49 EPS for the quarter, beating the consensus estimate of $2.46 by $0.03. The firm had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.11 billion. Stryker had a return on equity of 25.75% and a net margin of 13.99%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.18 earnings per share. As a group, equities analysts expect that Stryker Co. will post 9.1 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.575 per share. The ex-dividend date of this dividend is Monday, March 30th. This represents a $2.30 annualized dividend and a dividend yield of 1.04%. Stryker’s dividend payout ratio is currently 27.85%.
SYK has been the subject of several research analyst reports. Bank of America lifted their target price on Stryker from $220.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. SunTrust Banks initiated coverage on Stryker in a research report on Tuesday, January 7th. They set a “hold” rating and a $217.00 target price for the company. Morgan Stanley lifted their target price on Stryker from $242.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Robert W. Baird lifted their target price on Stryker from $242.00 to $248.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, Evercore ISI upgraded Stryker from an “in-line” rating to an “outperform” rating in a research report on Thursday, January 2nd. Seven equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Stryker currently has a consensus rating of “Buy” and a consensus price target of $228.43.
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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