Flossbach Von Storch AG acquired a new position in Stryker Co. (NYSE:SYK) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 84,430 shares of the medical technology company’s stock, valued at approximately $15,002,000.
Other institutional investors have also added to or reduced their stakes in the company. Fundsmith Equity Fund L.P. purchased a new position in Stryker in the 2nd quarter valued at about $931,542,000. FMR LLC lifted its holdings in Stryker by 24.0% in the 2nd quarter. FMR LLC now owns 5,327,862 shares of the medical technology company’s stock valued at $899,662,000 after purchasing an additional 1,032,333 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in Stryker by 1,061.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 951,528 shares of the medical technology company’s stock valued at $160,675,000 after purchasing an additional 869,568 shares in the last quarter. BlackRock Inc. lifted its holdings in Stryker by 2.7% in the 2nd quarter. BlackRock Inc. now owns 24,551,677 shares of the medical technology company’s stock valued at $4,145,795,000 after purchasing an additional 646,505 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its holdings in Stryker by 358.1% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 426,404 shares of the medical technology company’s stock valued at $75,763,000 after purchasing an additional 333,316 shares in the last quarter. Institutional investors and hedge funds own 74.71% of the company’s stock.
A number of research firms have issued reports on SYK. Canaccord Genuity restated a “buy” rating and issued a $185.00 target price on shares of Stryker in a report on Wednesday, July 25th. Oppenheimer set a $170.00 target price on shares of Stryker and gave the company a “hold” rating in a report on Friday, October 26th. Zacks Investment Research upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a report on Tuesday, October 30th. Citigroup upped their target price on shares of Stryker from $171.00 to $173.00 and gave the company a “neutral” rating in a report on Wednesday, July 25th. Finally, BMO Capital Markets restated a “hold” rating and issued a $174.00 target price on shares of Stryker in a report on Thursday, July 12th. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $181.15.
Shares of SYK stock opened at $166.73 on Wednesday. The stock has a market cap of $61.88 billion, a PE ratio of 25.69, a P/E/G ratio of 2.27 and a beta of 0.64. Stryker Co. has a 1-year low of $146.80 and a 1-year high of $179.84. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.21 and a current ratio of 1.91.
Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, October 25th. The medical technology company reported $1.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.01. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.26 billion. Stryker had a net margin of 9.31% and a return on equity of 28.00%. Analysts forecast that Stryker Co. will post 7.28 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $1.88 annualized dividend and a dividend yield of 1.13%. Stryker’s payout ratio is currently 28.97%.
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.
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