Sandy Spring Bank raised its holdings in shares of Stryker Co. (NYSE:SYK) by 4.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,621 shares of the medical technology company’s stock after acquiring an additional 1,228 shares during the quarter. Sandy Spring Bank’s holdings in Stryker were worth $6,639,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Voloridge Investment Management LLC acquired a new stake in shares of Stryker during the 3rd quarter worth about $4,589,000. Granite Investment Advisors LLC boosted its stake in shares of Stryker by 0.7% during the 3rd quarter. Granite Investment Advisors LLC now owns 17,847 shares of the medical technology company’s stock worth $3,860,000 after purchasing an additional 120 shares during the last quarter. Gradient Investments LLC boosted its stake in shares of Stryker by 95.4% during the 4th quarter. Gradient Investments LLC now owns 1,135 shares of the medical technology company’s stock worth $238,000 after purchasing an additional 554 shares during the last quarter. Synovus Financial Corp boosted its stake in shares of Stryker by 3.0% during the 3rd quarter. Synovus Financial Corp now owns 3,829 shares of the medical technology company’s stock worth $826,000 after purchasing an additional 111 shares during the last quarter. Finally, Bridger Capital Management LLC acquired a new stake in shares of Stryker during the 3rd quarter worth about $90,000. Hedge funds and other institutional investors own 73.29% of the company’s stock.
Several research firms have issued reports on SYK. Stifel Nicolaus raised their price target on shares of Stryker from $245.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Goldman Sachs Group began coverage on shares of Stryker in a research note on Wednesday. They set a “buy” rating and a $248.00 price target on the stock. Zacks Investment Research raised shares of Stryker from a “hold” rating to a “buy” rating and set a $215.00 price target on the stock in a research note on Thursday, November 28th. Robert W. Baird raised their price target on shares of Stryker from $242.00 to $248.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Finally, Deutsche Bank raised their price target on shares of Stryker from $239.00 to $243.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Seven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $228.43.
Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 28th. The medical technology company reported $2.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.46 by $0.03. Stryker had a net margin of 13.99% and a return on equity of 25.75%. The business had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.11 billion. During the same period last year, the company earned $2.18 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. On average, sell-side analysts expect that Stryker Co. will post 9.1 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.575 per share. The ex-dividend date of this dividend is Monday, March 30th. This represents a $2.30 dividend on an annualized basis and a yield of 1.04%. Stryker’s dividend payout ratio (DPR) is 27.85%.
In other Stryker news, COO Timothy J. Scannell sold 4,666 shares of Stryker stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $206.28, for a total transaction of $962,502.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 7.20% of the company’s stock.
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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