HighPoint Advisor Group LLC increased its position in shares of Stryker Co. (NYSE:SYK) by 6.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,387 shares of the medical technology company’s stock after acquiring an additional 86 shares during the period. HighPoint Advisor Group LLC’s holdings in Stryker were worth $260,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of SYK. Farmers National Bank purchased a new stake in Stryker during the 1st quarter worth about $25,000. RPG Investment Advisory LLC increased its holdings in Stryker by 160.0% during the 1st quarter. RPG Investment Advisory LLC now owns 156 shares of the medical technology company’s stock worth $31,000 after purchasing an additional 96 shares during the period. ERTS Wealth Advisors LLC purchased a new stake in Stryker during the 4th quarter worth about $25,000. Northwest Wealth Management LLC increased its holdings in Stryker by 103.6% during the 4th quarter. Northwest Wealth Management LLC now owns 169 shares of the medical technology company’s stock worth $26,000 after purchasing an additional 86 shares during the period. Finally, Semmax Financial Advisors Inc. purchased a new stake in Stryker during the 4th quarter worth about $28,000. 74.04% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have weighed in on SYK. Zacks Investment Research downgraded Stryker from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Canaccord Genuity upped their price target on Stryker from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Deutsche Bank increased their price objective on Stryker from $181.00 to $208.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Oppenheimer increased their price objective on Stryker from $183.00 to $192.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Finally, Wells Fargo & Co increased their price objective on Stryker from $214.00 to $219.00 and gave the company an “outperform” rating in a report on Monday, April 1st. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $196.85.
Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, April 23rd. The medical technology company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.04. The business had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.51 billion. Stryker had a return on equity of 26.72% and a net margin of 25.38%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.68 EPS. On average, research analysts expect that Stryker Co. will post 8.15 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $2.08 dividend on an annualized basis and a yield of 1.12%. Stryker’s dividend payout ratio is presently 28.45%.
In related news, CFO Glenn S. Boehnlein sold 2,700 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 23,333 shares in the company, valued at approximately $4,391,503.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Timothy J. Scannell sold 4,666 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $186.71, for a total value of $871,188.86. The disclosure for this sale can be found here. Insiders have sold a total of 111,550 shares of company stock worth $21,376,317 in the last 90 days. 7.20% of the stock is currently owned by company insiders.
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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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