Mogy Joel R Investment Counsel Inc. lessened its holdings in shares of Stryker Corporation (NYSE:SYK) by 0.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,123 shares of the medical technology company’s stock after selling 150 shares during the period. Stryker Corporation makes up 2.1% of Mogy Joel R Investment Counsel Inc.’s holdings, making the stock its 18th biggest position. Mogy Joel R Investment Counsel Inc.’s holdings in Stryker Corporation were worth $11,952,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the stock. Bollard Group LLC increased its holdings in Stryker Corporation by 0.4% in the second quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock valued at $115,000 after buying an additional 3 shares in the last quarter. James Investment Research Inc. purchased a new position in Stryker Corporation in the second quarter valued at $155,000. Guardian Life Insurance Co. of America increased its holdings in Stryker Corporation by 0.8% in the first quarter. Guardian Life Insurance Co. of America now owns 1,199 shares of the medical technology company’s stock valued at $158,000 after buying an additional 9 shares in the last quarter. Assetmark Inc. increased its holdings in Stryker Corporation by 0.3% in the first quarter. Assetmark Inc. now owns 1,274 shares of the medical technology company’s stock valued at $168,000 after buying an additional 4 shares in the last quarter. Finally, Mosaic Family Wealth LLC increased its holdings in Stryker Corporation by 3.5% in the first quarter. Mosaic Family Wealth LLC now owns 1,300 shares of the medical technology company’s stock valued at $171,000 after buying an additional 44 shares in the last quarter. 74.18% of the stock is owned by hedge funds and other institutional investors.
Stryker Corporation (NYSE:SYK) opened at 143.88 on Friday. The stock 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 firm’s 50-day moving average is $143.77 and its 200-day moving average is $138.65.
Stryker Corporation (NYSE:SYK) last released its quarterly earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.02. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. The company had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same period last year, the company earned $1.39 EPS. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities research analysts predict that Stryker Corporation will post $6.46 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be paid a dividend of $0.425 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.70 annualized dividend and a dividend yield of 1.18%. Stryker Corporation’s dividend payout ratio is currently 37.95%.
In related news, insider Lonny J. Carpenter sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $146.36, for a total value of $731,800.00. Following the sale, the insider now directly owns 88,207 shares of the company’s stock, valued at $12,909,976.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David Floyd sold 19,305 shares of the firm’s 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 disclosure for this sale can be found here. Insiders have sold a total of 25,429 shares of company stock worth $3,686,927 over the last ninety days. 7.40% of the stock is owned by corporate insiders.
A number of research analysts have weighed in on the stock. Zacks Investment Research cut shares of Stryker Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. BidaskClub cut shares of Stryker Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Oppenheimer Holdings, Inc. set a $148.00 price objective on shares of Stryker Corporation and gave the company a “hold” rating in a report on Friday, July 28th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $132.00 price objective on shares of Stryker Corporation in a report on Friday, June 30th. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $160.00 price objective (up previously from $150.00) on shares of Stryker Corporation in a report on Sunday, July 30th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the stock. Stryker Corporation has a consensus rating of “Hold” and an average price target 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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