Great Lakes Retirement Inc. lowered its holdings in shares of Stryker Co. (NYSE:SYK) by 68.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,607 shares of the medical technology company’s stock after selling 3,438 shares during the period. Great Lakes Retirement Inc.’s holdings in Stryker were worth $254,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. ERTS Wealth Advisors LLC acquired a new stake in Stryker during the fourth quarter worth $25,000. Sofos Investments Inc. boosted its stake in Stryker by 160.0% during the first quarter. Sofos Investments Inc. now owns 728 shares of the medical technology company’s stock worth $26,000 after buying an additional 448 shares in the last quarter. WASHINGTON TRUST Co acquired a new stake in Stryker during the first quarter worth $28,000. Filbrandt Wealth Management LLC acquired a new stake in Stryker during the first quarter worth $30,000. Finally, Procyon Private Wealth Partners LLC acquired a new stake in Stryker during the fourth quarter worth $31,000. Hedge funds and other institutional investors own 71.27% of the company’s stock.
A number of equities research analysts have weighed in on the stock. Cowen decreased their price target on shares of Stryker from $240.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 22nd. Raymond James cut their price objective on Stryker from $240.00 to $205.00 and set an “outperform” rating for the company in a report on Monday, April 13th. Credit Suisse Group lifted their price objective on Stryker from $229.00 to $237.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Oppenheimer reissued a “hold” rating and set a $200.00 price objective on shares of Stryker in a report on Friday, May 1st. Finally, Argus cut their price objective on Stryker from $240.00 to $230.00 and set a “buy” rating for the company in a report on Monday, May 11th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $214.23.
Stryker (NYSE:SYK) last posted its earnings results on Thursday, April 30th. The medical technology company reported $1.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.69 by $0.15. The company had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.45 billion. Stryker had a return on equity of 24.90% and a net margin of 14.47%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.88 EPS. As a group, equities research analysts predict that Stryker Co. will post 6.22 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a $0.575 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $2.30 annualized dividend and a dividend yield of 1.33%. Stryker’s dividend payout ratio is presently 27.85%.
In related news, CFO Glenn S. Boehnlein sold 10,351 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $185.24, for a total value of $1,917,419.24. Following the completion of the transaction, the chief financial officer now directly owns 16,321 shares in the company, valued at approximately $3,023,302.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Allan C. Golston sold 7,299 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $193.23, for a total value of $1,410,385.77. Following the completion of the transaction, the director now owns 13,972 shares of the company’s stock, valued at $2,699,809.56. The disclosure for this sale can be found here. Insiders sold a total of 30,670 shares of company stock valued at $5,775,251 over the last quarter. 6.80% of the stock is owned by 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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