Skandinaviska Enskilda Banken AB publ trimmed its stake in Stryker Co. (NYSE:SYK) by 7.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 103,108 shares of the medical technology company’s stock after selling 7,998 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Stryker were worth $17,166,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Advisor Group Inc. grew its holdings in Stryker by 0.9% in the fourth quarter. Advisor Group Inc. now owns 35,452 shares of the medical technology company’s stock worth $7,445,000 after purchasing an additional 305 shares during the period. Raymond James & Associates grew its holdings in Stryker by 7.4% in the fourth quarter. Raymond James & Associates now owns 342,121 shares of the medical technology company’s stock worth $71,829,000 after purchasing an additional 23,591 shares during the period. Texas Capital Bank Wealth Management Services Inc. acquired a new position in shares of Stryker during the fourth quarter valued at about $340,000. Primecap Management Co. CA grew its holdings in shares of Stryker by 110.2% during the first quarter. Primecap Management Co. CA now owns 473,900 shares of the medical technology company’s stock valued at $78,900,000 after buying an additional 248,400 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Stryker by 8.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 11,260 shares of the medical technology company’s stock valued at $1,875,000 after buying an additional 893 shares during the last quarter. Institutional investors and hedge funds own 71.27% of the company’s stock.
A number of research analysts have recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Stryker from $145.00 to $205.00 and gave the company a “buy” rating in a report on Friday, May 1st. UBS Group dropped their price target on shares of Stryker from $230.00 to $202.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. Morgan Stanley raised their price target on shares of Stryker from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Citigroup raised their price target on shares of Stryker from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, Cfra dropped their price target on shares of Stryker from $234.00 to $231.00 and set a “strong-buy” rating on the stock in a research report on Friday, May 1st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Stryker currently has an average rating of “Buy” and an average price target of $214.23.
Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, April 30th. The medical technology company reported $1.84 EPS for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.15. Stryker had a net margin of 14.47% and a return on equity of 24.90%. The business had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter in the previous year, the company earned $1.88 EPS. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities analysts predict that Stryker Co. will post 6.22 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a $0.575 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $2.30 dividend on an annualized basis and a yield of 1.33%. Stryker’s dividend payout ratio is presently 27.85%.
In other news, CFO Glenn S. Boehnlein sold 10,351 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $185.24, for a total value of $1,917,419.24. Following the completion of the sale, 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 document filed with the SEC, which is available at this hyperlink. Also, Director Srikant M. Datar sold 200 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $186.01, for a total transaction of $37,202.00. Following the completion of the sale, the director now owns 17,686 shares of the company’s stock, valued at $3,289,772.86. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,670 shares of company stock valued at $5,775,251. Company insiders own 6.80% of the company’s stock.
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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