Rosenbaum Jay D. decreased its holdings in Stryker Co. (NYSE:SYK) by 4.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 10,589 shares of the medical technology company’s stock after selling 535 shares during the quarter. Stryker makes up 4.1% of Rosenbaum Jay D.’s holdings, making the stock its 4th biggest holding. Rosenbaum Jay D.’s holdings in Stryker were worth $2,177,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of SYK. Farmers National Bank purchased a new position in Stryker in the first quarter worth approximately $25,000. Cable Hill Partners LLC purchased a new position in Stryker in the first quarter worth approximately $30,000. Horan Capital Advisors LLC. purchased a new stake in shares of Stryker during the 1st quarter worth approximately $40,000. Webster Bank N. A. lifted its position in shares of Stryker by 300.0% during the 2nd quarter. Webster Bank N. A. now owns 200 shares of the medical technology company’s stock worth $41,000 after buying an additional 150 shares during the last quarter. Finally, Westside Investment Management Inc. purchased a new stake in shares of Stryker during the 2nd quarter worth approximately $47,000. 73.48% of the stock is owned by institutional investors and hedge funds.
Shares of Stryker stock traded up $3.35 during trading on Thursday, reaching $215.41. The company’s stock had a trading volume of 16,381 shares, compared to its average volume of 1,090,678. The stock has a 50-day moving average price of $210.23. The company has a market capitalization of $81.21 billion, a price-to-earnings ratio of 29.38, a PEG ratio of 2.64 and a beta of 0.85. Stryker Co. has a fifty-two week low of $144.75 and a fifty-two week high of $222.59. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 2.07.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.52 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.97%. Stryker’s payout ratio is 28.45%.
SYK has been the subject of several recent analyst reports. Barclays set a $226.00 price objective on shares of Stryker and gave the stock a “buy” rating in a research report on Friday, July 26th. Royal Bank of Canada set a $220.00 price objective on shares of Stryker and gave the stock a “buy” rating in a research report on Friday, July 26th. Wells Fargo & Co boosted their price objective on shares of Stryker from $219.00 to $228.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 2nd. Canaccord Genuity boosted their price objective on shares of Stryker from $195.00 to $233.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Zacks Investment Research upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $225.00 price objective for the company in a research report on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $214.89.
In other news, insider Timothy J. Scannell sold 4,666 shares of Stryker stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $197.68, for a total value of $922,374.88. Following the transaction, the insider now directly owns 155,347 shares of the company’s stock, valued at approximately $30,708,994.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Allan C. Golston sold 3,399 shares of Stryker stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $209.84, for a total transaction of $713,246.16. Following the completion of the transaction, the director now directly owns 13,762 shares in the company, valued at $2,887,818.08. The disclosure for this sale can be found here. Insiders sold a total of 15,431 shares of company stock worth $3,174,489 over the last ninety days. Corporate insiders own 7.20% of the company’s stock.
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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