Raymond James Trust N.A. Acquires 285 Shares of Stryker Co. (SYK)

Raymond James Trust N.A. raised its holdings in shares of Stryker Co. (NYSE:SYK) by 2.0% during the first quarter, Holdings Channel reports. The fund owned 14,648 shares of the medical technology company’s stock after buying an additional 285 shares during the period. Raymond James Trust N.A.’s holdings in Stryker were worth $2,893,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Ropes Wealth Advisors LLC grew its position in Stryker by 41.6% during the first quarter. Ropes Wealth Advisors LLC now owns 708 shares of the medical technology company’s stock valued at $140,000 after acquiring an additional 208 shares during the last quarter. Retirement Systems of Alabama grew its position in Stryker by 0.3% during the first quarter. Retirement Systems of Alabama now owns 275,728 shares of the medical technology company’s stock valued at $54,462,000 after acquiring an additional 878 shares during the last quarter. Landsberg Bennett & Dubbaneh LLC grew its position in Stryker by 62.4% during the first quarter. Landsberg Bennett & Dubbaneh LLC now owns 19,956 shares of the medical technology company’s stock valued at $3,888,000 after acquiring an additional 7,667 shares during the last quarter. Lodestar Investment Counsel LLC IL bought a new position in Stryker during the first quarter valued at approximately $237,000. Finally, D.B. Root & Company LLC grew its position in Stryker by 42.5% during the first quarter. D.B. Root & Company LLC now owns 1,674 shares of the medical technology company’s stock valued at $331,000 after acquiring an additional 499 shares during the last quarter. Institutional investors and hedge funds own 74.58% of the company’s stock.

In related news, VP Katherine Ann Owen sold 29,247 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $185.62, for a total value of $5,428,828.14. Following the completion of the sale, the vice president now owns 11,131 shares of the company’s stock, valued at $2,066,136.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Yin C. Becker sold 15,240 shares of the firm’s stock in a transaction 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 completion of the sale, the vice president now directly owns 16,577 shares of the company’s stock, valued at approximately $3,282,743.31. The disclosure for this sale can be found here. Insiders sold 131,071 shares of company stock valued at $24,689,161 in the last ninety days. 7.20% of the stock is currently owned by insiders.

A number of research analysts have commented on the stock. Barclays increased their price target on shares of Stryker from $203.00 to $211.00 and gave the company an “overweight” rating in a research report on Monday. Zacks Investment Research cut shares of Stryker from a “buy” rating to a “hold” rating in a research report on Friday. Wells Fargo & Co increased their price target on shares of Stryker from $214.00 to $219.00 and gave the company an “outperform” rating in a research report on Monday, April 1st. JPMorgan Chase & Co. increased their price objective on Stryker from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Finally, BTIG Research increased their price objective on Stryker to $211.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $192.13.

Shares of NYSE:SYK traded up $0.75 during trading on Monday, reaching $193.42. 1,399,936 shares of the company traded hands, compared to its average volume of 1,349,589. The firm has a market cap of $72.88 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 2.40 and a beta of 0.88. Stryker Co. has a 52-week low of $144.75 and a 52-week high of $199.85. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.41 and a current ratio of 2.02.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 29th. The medical technology company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. Stryker had a return on equity of 27.60% and a net margin of 26.12%. The firm had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.73 billion. Research analysts predict that Stryker Co. will post 8.13 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Thursday, March 28th. Stryker’s payout ratio is 28.45%.

COPYRIGHT VIOLATION NOTICE: This piece was first reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this piece on another site, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The legal version of this piece can be viewed at https://www.chaffeybreeze.com/2019/04/15/raymond-james-trust-n-a-acquires-285-shares-of-stryker-co-syk.html.

Stryker Company Profile

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.

See Also: What causes a recession?

Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Co. (NYSE:SYK).

Institutional Ownership by Quarter for Stryker (NYSE:SYK)

Receive News & Ratings for Stryker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stryker and related companies with MarketBeat.com's FREE daily email newsletter.