Cidel Asset Management Inc. held its position in Stryker Corporation (NYSE:SYK) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,500 shares of the medical technology company’s stock at the end of the 2nd quarter. Cidel Asset Management Inc.’s holdings in Stryker Corporation were worth $208,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bollard Group LLC raised its position in shares of Stryker Corporation by 0.4% during the second quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock worth $115,000 after purchasing an additional 3 shares during the period. James Investment Research Inc. acquired a new stake in shares of Stryker Corporation during the second quarter worth about $155,000. Guardian Life Insurance Co. of America raised its position in shares of Stryker Corporation by 0.8% during the first quarter. Guardian Life Insurance Co. of America now owns 1,199 shares of the medical technology company’s stock worth $158,000 after purchasing an additional 9 shares during the period. Assetmark Inc. raised its position in shares of Stryker Corporation by 0.3% during the first quarter. Assetmark Inc. now owns 1,274 shares of the medical technology company’s stock worth $168,000 after purchasing an additional 4 shares during the period. Finally, Mosaic Family Wealth LLC raised its position in shares of Stryker Corporation by 3.5% during the first quarter. Mosaic Family Wealth LLC now owns 1,300 shares of the medical technology company’s stock worth $171,000 after purchasing an additional 44 shares during the period. 74.18% of the stock is currently owned by institutional investors.
In related news, insider David Floyd sold 19,305 shares of the stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $144.56, for a total transaction of $2,790,730.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Graham A. Mclean sold 1,124 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $146.26, for a total value of $164,396.24. Following the sale, the insider now directly owns 8,983 shares of the company’s stock, valued at $1,313,853.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,429 shares of company stock valued at $3,686,927. Company insiders own 7.40% of the company’s stock.
Stryker Corporation (NYSE SYK) opened at 143.88 on Friday. The company has a market capitalization of $53.82 billion, a P/E ratio of 32.12 and a beta of 0.81. Stryker Corporation has a 52 week low of $106.48 and a 52 week high of $148.84. The stock’s 50 day moving average price is $143.77 and its 200 day moving average price is $138.65.
Stryker Corporation (NYSE:SYK) last issued its quarterly earnings data on Thursday, July 27th. The medical technology company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.51 by $0.02. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.98 billion. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.39 earnings per share. Analysts anticipate that Stryker Corporation will post $6.46 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be paid a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Thursday, September 28th. Stryker Corporation’s dividend payout ratio (DPR) is presently 37.95%.
A number of equities research analysts have recently commented on SYK shares. BidaskClub lowered Stryker Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Zacks Investment Research raised Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 target price on the stock in a research report on Monday, July 17th. Stifel Nicolaus lifted their target price on Stryker Corporation from $151.00 to $158.00 and gave the company a “buy” rating in a research report on Friday, July 28th. Cowen and Company reissued a “buy” rating and issued a $160.00 target price (up previously from $150.00) on shares of Stryker Corporation in a research report on Sunday, July 30th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $155.00 target price (down previously from $158.00) on shares of Stryker Corporation in a research report on Thursday, August 24th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $145.73.
Stryker Corporation Company Profile
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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