Paradigm Asset Management Co. LLC held its stake in Stryker Corporation (NYSE:SYK) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,300 shares of the medical technology company’s stock at the close of the second quarter. Paradigm Asset Management Co. LLC’s holdings in Stryker Corporation were worth $597,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Bollard Group LLC grew its holdings in shares of 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 purchasing an additional 3 shares in the last quarter. James Investment Research Inc. acquired a new position in shares of Stryker Corporation in the second quarter valued at approximately $155,000. Guardian Life Insurance Co. of America grew its holdings in shares of 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 purchasing an additional 9 shares in the last quarter. Assetmark Inc. grew its holdings in shares of 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 purchasing an additional 4 shares in the last quarter. Finally, Mosaic Family Wealth LLC grew its holdings in shares of 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 purchasing an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 74.13% of the company’s stock.
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Stryker Corporation (NYSE SYK) opened at 142.71 on Thursday. Stryker Corporation has a one year low of $106.48 and a one year high of $148.84. The stock has a 50 day moving average of $143.56 and a 200 day moving average of $138.98. The firm has a market cap of $53.38 billion, a PE ratio of 31.85 and a beta of 0.81.
Stryker Corporation (NYSE:SYK) last released its quarterly earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.98 billion. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.39 earnings per share. On average, equities analysts forecast that Stryker Corporation will post $6.46 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Thursday, September 28th. Stryker Corporation’s dividend payout ratio is presently 37.95%.
In other Stryker Corporation news, insider Graham A. Mclean sold 1,124 shares of Stryker Corporation stock in a transaction 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 completion of the transaction, the insider now owns 8,983 shares of the company’s stock, valued at $1,313,853.58. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Lonny J. Carpenter sold 5,000 shares of Stryker Corporation stock in a transaction on Friday, August 4th. The stock was sold at an average price of $146.36, for a total transaction of $731,800.00. Following the completion of the transaction, the insider now directly owns 88,207 shares of the company’s stock, valued at approximately $12,909,976.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,429 shares of company stock valued at $3,686,927. 7.40% of the stock is currently owned by corporate insiders.
A number of brokerages recently weighed in on SYK. Cowen and Company restated 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. BidaskClub upgraded shares of Stryker Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Zacks Investment Research cut shares of Stryker Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. Stifel Nicolaus boosted their price target on shares of Stryker Corporation from $151.00 to $158.00 and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, Oppenheimer Holdings, Inc. set a $148.00 price target on shares of Stryker Corporation and gave the stock a “hold” rating in a report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. Stryker Corporation currently has an average rating of “Hold” and a consensus price target of $145.73.
About Stryker Corporation
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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