FormulaFolio Investments LLC bought a new stake in shares of Stryker Co. (NYSE:SYK) in the first quarter, HoldingsChannel.com reports. The firm bought 3,887 shares of the medical technology company’s stock, valued at approximately $768,000.
Several other large investors also recently modified their holdings of SYK. TD Asset Management Inc. lifted its stake in shares of Stryker by 1.2% in the 1st quarter. TD Asset Management Inc. now owns 687,272 shares of the medical technology company’s stock valued at $135,750,000 after purchasing an additional 7,821 shares during the last quarter. Trellis Advisors LLC acquired a new stake in shares of Stryker in the 1st quarter valued at $206,000. TrinityPoint Wealth LLC lifted its stake in shares of Stryker by 13.0% in the 1st quarter. TrinityPoint Wealth LLC now owns 1,449 shares of the medical technology company’s stock valued at $286,000 after purchasing an additional 167 shares during the last quarter. 361 Capital LLC acquired a new stake in shares of Stryker in the 1st quarter valued at $1,439,000. Finally, ETF Managers Group LLC lifted its stake in shares of Stryker by 9.3% in the 1st quarter. ETF Managers Group LLC now owns 894 shares of the medical technology company’s stock valued at $177,000 after purchasing an additional 76 shares during the last quarter. 74.71% of the stock is owned by institutional investors.
In other news, VP Katherine Ann Owen sold 29,247 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $185.62, for a total transaction of $5,428,828.14. Following the transaction, the vice president now owns 11,131 shares in the company, valued at approximately $2,066,136.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Bijoy Sagar sold 2,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $190.43, for a total transaction of $380,860.00. Following the transaction, the vice president now owns 3,350 shares in the company, valued at approximately $637,940.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,550 shares of company stock worth $21,376,317. Insiders own 7.20% of the company’s stock.
Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, April 23rd. The medical technology company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.04. Stryker had a net margin of 25.38% and a return on equity of 26.72%. The company had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter in the previous year, the firm posted $1.68 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. On average, research analysts expect that Stryker Co. will post 8.15 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a dividend of $0.52 per share. The ex-dividend date is Thursday, June 27th. This represents a $2.08 annualized dividend and a dividend yield of 1.12%. Stryker’s payout ratio is 28.45%.
Several equities research analysts recently issued reports on SYK shares. BTIG Research lifted their price objective on shares of Stryker to $211.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $205.00 target price on shares of Stryker in a report on Friday, March 1st. Barclays lifted their target price on shares of Stryker from $203.00 to $211.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. SunTrust Banks lifted their target price on shares of Stryker to $205.00 and gave the stock a “positive” rating in a report on Monday, February 4th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Stryker from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $196.85.
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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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