Capital Investment Services of America Inc. grew its position in Stryker Co. (NYSE:SYK) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 92,679 shares of the medical technology company’s stock after acquiring an additional 514 shares during the quarter. Stryker comprises 3.0% of Capital Investment Services of America Inc.’s holdings, making the stock its 9th largest position. Capital Investment Services of America Inc.’s holdings in Stryker were worth $20,046,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Landsberg Bennett & Dubbaneh LLC lifted its position in shares of Stryker by 1.5% in the third quarter. Landsberg Bennett & Dubbaneh LLC now owns 19,463 shares of the medical technology company’s stock valued at $4,158,000 after acquiring an additional 291 shares in the last quarter. Clarus Wealth Advisors lifted its position in shares of Stryker by 71.5% in the third quarter. Clarus Wealth Advisors now owns 3,620 shares of the medical technology company’s stock valued at $783,000 after acquiring an additional 1,509 shares in the last quarter. Northside Capital Management LLC purchased a new position in shares of Stryker in the third quarter valued at approximately $289,000. Abner Herrman & Brock LLC purchased a new position in shares of Stryker in the third quarter valued at approximately $2,719,000. Finally, Murphy Capital Management Inc. lifted its position in shares of Stryker by 1.7% in the third quarter. Murphy Capital Management Inc. now owns 32,420 shares of the medical technology company’s stock valued at $7,012,000 after acquiring an additional 535 shares in the last quarter. Institutional investors and hedge funds own 72.95% of the company’s stock.
In other Stryker news, insider Timothy J. Scannell sold 4,666 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $205.88, for a total transaction of $960,636.08. Following the completion of the sale, the insider now owns 155,963 shares of the company’s stock, valued at $32,109,662.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Katherine Ann Owen sold 2,500 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $216.30, for a total value of $540,750.00. Following the sale, the vice president now directly owns 5,349 shares of the company’s stock, valued at approximately $1,156,988.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,637 shares of company stock valued at $11,240,206. 7.20% of the stock is owned by insiders.
Stryker (NYSE:SYK) last posted its earnings results on Thursday, July 25th. The medical technology company reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.05. The company had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.60 billion. Stryker had a return on equity of 25.98% and a net margin of 24.99%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.76 earnings per share. As a group, research analysts expect that Stryker Co. will post 8.21 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.08 annualized dividend and a yield of 0.97%. Stryker’s dividend payout ratio (DPR) is 28.45%.
Several research firms have recently weighed in on SYK. BMO Capital Markets set a $216.00 target price on Stryker and gave the company a “hold” rating in a research report on Friday, July 26th. Morgan Stanley increased their price target on Stryker from $218.00 to $230.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Barclays set a $226.00 price target on Stryker and gave the company a “buy” rating in a report on Friday, July 26th. Zacks Investment Research raised Stryker from a “hold” rating to a “buy” rating and set a $225.00 price target for the company in a report on Monday, July 29th. Finally, Raymond James set a $240.00 price target on Stryker and gave the company a “buy” rating in a report on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $214.89.
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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