WINTON GROUP Ltd cut its stake in shares of Stryker Co. (NYSE:SYK) by 51.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,225 shares of the medical technology company’s stock after selling 7,548 shares during the quarter. WINTON GROUP Ltd’s holdings in Stryker were worth $1,220,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of SYK. Centaurus Financial Inc. purchased a new position in Stryker during the second quarter valued at approximately $110,000. Kaizen Advisory LLC increased its holdings in Stryker by 142.6% during the second quarter. Kaizen Advisory LLC now owns 752 shares of the medical technology company’s stock valued at $127,000 after buying an additional 442 shares during the period. NumerixS Investment Technologies Inc purchased a new position in Stryker during the second quarter valued at approximately $135,000. CX Institutional purchased a new position in Stryker during the second quarter valued at approximately $133,000. Finally, Ostrum Asset Management purchased a new position in Stryker during the first quarter valued at approximately $160,000. 75.04% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Katherine Ann Owen sold 37,866 shares of Stryker stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $166.84, for a total transaction of $6,317,563.44. Following the completion of the sale, the vice president now directly owns 11,367 shares in the company, valued at $1,896,470.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 7.30% of the stock is currently owned by insiders.
Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, July 24th. The medical technology company reported $1.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.03. Stryker had a net margin of 8.28% and a return on equity of 26.93%. The business had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.31 billion. During the same period in the previous year, the company earned $1.53 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. sell-side analysts anticipate that Stryker Co. will post 7.25 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Friday, September 28th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Thursday, September 27th. Stryker’s dividend payout ratio is currently 28.97%.
Several equities analysts recently issued reports on the stock. Citigroup lifted their price objective on shares of Stryker from $171.00 to $173.00 and gave the company a “neutral” rating in a report on Wednesday, July 25th. BMO Capital Markets reissued a “hold” rating and set a $174.00 price objective on shares of Stryker in a report on Thursday, July 12th. Zacks Investment Research raised shares of Stryker from a “hold” rating to a “buy” rating and set a $191.00 price objective on the stock in a report on Wednesday, June 20th. Canaccord Genuity reissued a “buy” rating and set a $185.00 price objective on shares of Stryker in a report on Wednesday, July 25th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $184.00 price objective on shares of Stryker in a report on Wednesday, July 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the company’s stock. Stryker presently has an average rating of “Buy” and a consensus target price of $178.33.
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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