Pinnacle Bank grew its stake in Stryker Co. (NYSE:SYK) by 7.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 855 shares of the medical technology company’s stock after purchasing an additional 60 shares during the quarter. Pinnacle Bank’s holdings in Stryker were worth $176,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in SYK. Fishman Jay A Ltd. MI boosted its position in shares of Stryker by 0.3% during the 4th quarter. Fishman Jay A Ltd. MI now owns 65,380 shares of the medical technology company’s stock valued at $10,248,000 after purchasing an additional 210 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Stryker by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 3,665,205 shares of the medical technology company’s stock valued at $573,387,000 after purchasing an additional 224,785 shares in the last quarter. Brinker Capital Inc. boosted its position in shares of Stryker by 9.3% during the 4th quarter. Brinker Capital Inc. now owns 3,377 shares of the medical technology company’s stock valued at $530,000 after purchasing an additional 287 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new stake in shares of Stryker during the 4th quarter valued at about $10,563,000. Finally, MML Investors Services LLC boosted its position in shares of Stryker by 5.5% during the 4th quarter. MML Investors Services LLC now owns 9,726 shares of the medical technology company’s stock valued at $1,525,000 after purchasing an additional 509 shares in the last quarter. Institutional investors and hedge funds own 73.59% of the company’s stock.
In other Stryker news, CFO Glenn S. Boehnlein sold 2,700 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $188.21, for a total transaction of $508,167.00. Following the completion of the transaction, the chief financial officer now directly owns 23,333 shares of the company’s stock, valued at $4,391,503.93. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Louise Francesconi sold 2,679 shares of the stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $187.25, for a total value of $501,642.75. Following the transaction, the director now directly owns 15,598 shares of the company’s stock, valued at $2,920,725.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,377 shares of company stock valued at $4,144,870. 7.20% of the stock is owned by corporate insiders.
Shares of SYK stock traded up $0.88 during trading on Tuesday, hitting $209.37. The company’s stock had a trading volume of 707,733 shares, compared to its average volume of 1,255,539. The company has a market cap of $77.61 billion, a P/E ratio of 28.64, a PEG ratio of 2.52 and a beta of 0.87. The company has a current ratio of 2.12, a quick ratio of 1.30 and a debt-to-equity ratio of 0.68. The business’s fifty day moving average is $202.67. Stryker Co. has a 52 week low of $144.75 and a 52 week high of $211.13.
Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, April 23rd. The medical technology company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.04. Stryker had a return on equity of 26.72% and a net margin of 25.38%. The business had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same period in the prior year, the company earned $1.68 earnings per share. Stryker’s revenue was up 8.5% compared to the same quarter last year. On average, sell-side analysts expect that Stryker Co. will post 8.15 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.99%. The ex-dividend date is Thursday, June 27th. Stryker’s dividend payout ratio (DPR) is 28.45%.
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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