Nisa Investment Advisors LLC increased its holdings in shares of Stryker Co. (NYSE:SYK) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 133,123 shares of the medical technology company’s stock after purchasing an additional 843 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Stryker were worth $27,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in SYK. Schroder Investment Management Group increased its stake in shares of Stryker by 29.2% during the second quarter. Schroder Investment Management Group now owns 412,891 shares of the medical technology company’s stock worth $84,883,000 after acquiring an additional 93,284 shares during the period. Keudell Morrison Wealth Management lifted its stake in Stryker by 139.4% in the 2nd quarter. Keudell Morrison Wealth Management now owns 12,003 shares of the medical technology company’s stock valued at $2,468,000 after buying an additional 6,990 shares in the last quarter. Holocene Advisors LP purchased a new stake in Stryker in the 2nd quarter valued at approximately $427,000. Private Advisor Group LLC grew its holdings in Stryker by 21.8% during the 2nd quarter. Private Advisor Group LLC now owns 21,636 shares of the medical technology company’s stock valued at $4,448,000 after buying an additional 3,868 shares during the last quarter. Finally, Putnam Investments LLC grew its holdings in Stryker by 880.5% during the 2nd quarter. Putnam Investments LLC now owns 27,199 shares of the medical technology company’s stock valued at $5,592,000 after buying an additional 24,425 shares during the last quarter. 73.16% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on SYK. Canaccord Genuity boosted their price target on Stryker from $233.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Zacks Investment Research raised Stryker from a “hold” rating to a “buy” rating and set a $215.00 price objective on the stock in a research note on Thursday, November 28th. Deutsche Bank initiated coverage on Stryker in a research report on Friday, January 3rd. They set a “buy” rating and a $179.00 price objective for the company. Barclays downgraded shares of Stryker from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $226.00 to $207.00 in a research note on Tuesday, November 5th. Finally, Evercore ISI upgraded shares of Stryker from an “in-line” rating to an “outperform” rating in a report on Thursday, January 2nd. Seven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $222.16.
Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $1.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.01. Stryker had a net margin of 23.55% and a return on equity of 25.33%. The business had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.58 billion. During the same period last year, the company earned $1.69 earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, research analysts expect that Stryker Co. will post 8.23 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Monday, December 30th. This is a positive change from Stryker’s previous quarterly dividend of $0.52. Stryker’s dividend payout ratio (DPR) is 31.46%.
In other news, CFO Glenn S. Boehnlein sold 2,700 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $215.85, for a total transaction of $582,795.00. Following the completion of the sale, the chief financial officer now directly owns 17,933 shares in the company, valued at approximately $3,870,838.05. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kevin Lobo sold 19,286 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $215.71, for a total value of $4,160,183.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,652 shares of company stock worth $5,705,481. 7.20% of the stock is owned by company insiders.
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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