Pflug Koory LLC raised its stake in shares of Stryker Co. (NYSE:SYK) by 18.4% in the 1st quarter, Holdings Channel reports. The fund owned 1,066 shares of the medical technology company’s stock after acquiring an additional 166 shares during the quarter. Pflug Koory LLC’s holdings in Stryker were worth $211,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Gofen & Glossberg LLC IL raised its stake in Stryker by 71.0% during the 1st quarter. Gofen & Glossberg LLC IL now owns 11,799 shares of the medical technology company’s stock valued at $2,331,000 after acquiring an additional 4,900 shares during the last quarter. Ferguson Wellman Capital Management Inc. raised its stake in Stryker by 525.8% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 131,966 shares of the medical technology company’s stock valued at $26,066,000 after acquiring an additional 110,878 shares during the last quarter. DNB Asset Management AS raised its stake in Stryker by 1.8% during the 1st quarter. DNB Asset Management AS now owns 40,349 shares of the medical technology company’s stock valued at $7,970,000 after acquiring an additional 717 shares during the last quarter. Old North State Trust LLC raised its stake in Stryker by 67.7% during the 1st quarter. Old North State Trust LLC now owns 597 shares of the medical technology company’s stock valued at $117,000 after acquiring an additional 241 shares during the last quarter. Finally, Pacer Advisors Inc. purchased a new stake in Stryker during the 1st quarter valued at approximately $5,472,000. 74.58% of the stock is owned by hedge funds and other institutional investors.
SYK has been the subject of several analyst reports. Zacks Investment Research raised Stryker from a “hold” rating to a “buy” rating and set a $199.00 price objective for the company in a research note on Monday, February 4th. Canaccord Genuity upped their price objective on Stryker from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, January 30th. Deutsche Bank initiated coverage on Stryker in a research note on Wednesday, January 2nd. They set a “buy” rating and a $179.00 price objective for the company. Barclays set a $203.00 price objective on Stryker and gave the company a “buy” rating in a research note on Friday, March 8th. Finally, BTIG Research increased their target price on Stryker to $211.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Seven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $191.76.
Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 29th. The medical technology company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The business had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.73 billion. Stryker had a return on equity of 27.60% and a net margin of 26.12%. On average, equities analysts forecast that Stryker Co. will post 8.13 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Thursday, March 28th. Stryker’s dividend payout ratio is currently 28.45%.
In related news, VP Yin C. Becker sold 15,240 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $198.03, for a total value of $3,017,977.20. Following the sale, the vice president now owns 16,577 shares in the company, valued at approximately $3,282,743.31. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Kevin Lobo sold 41,750 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $194.11, for a total value of $8,104,092.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 131,071 shares of company stock worth $24,689,161. Insiders own 7.20% of the company’s stock.
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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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