Mosaic Family Wealth LLC increased its stake in Stryker Corporation (NYSE:SYK) by 3.5% during the first quarter, Holdings Channel reports. The firm owned 1,300 shares of the medical technology company’s stock after buying an additional 44 shares during the period. Mosaic Family Wealth LLC’s holdings in Stryker Corporation were worth $171,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. Commerce Bank increased its stake in shares of Stryker Corporation by 4.9% in the first quarter. Commerce Bank now owns 31,443 shares of the medical technology company’s stock valued at $4,139,000 after buying an additional 1,483 shares during the period. Baker Chad R bought a new stake in shares of Stryker Corporation during the first quarter valued at approximately $2,291,000. Sei Investments Co. increased its stake in shares of Stryker Corporation by 32.2% in the first quarter. Sei Investments Co. now owns 26,325 shares of the medical technology company’s stock valued at $3,466,000 after buying an additional 6,416 shares during the period. Parthenon LLC increased its stake in shares of Stryker Corporation by 2.7% in the first quarter. Parthenon LLC now owns 42,170 shares of the medical technology company’s stock valued at $5,552,000 after buying an additional 1,100 shares during the period. Finally, Karp Capital Management Corp bought a new stake in shares of Stryker Corporation during the first quarter valued at approximately $21,584,000. 74.28% of the stock is owned by hedge funds and other institutional investors.
Stryker Corporation (NYSE:SYK) opened at 142.24 on Friday. The company has a market capitalization of $53.16 billion, a price-to-earnings ratio of 31.96 and a beta of 0.81. Stryker Corporation has a one year low of $106.48 and a one year high of $145.62. The firm’s 50-day moving average price is $138.95 and its 200 day moving average price is $128.75.
Stryker Corporation (NYSE:SYK) last announced its earnings results on Tuesday, April 25th. The medical technology company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.05. The business had revenue of $2.96 billion during the quarter, compared to analyst estimates of $2.90 billion. Stryker Corporation had a net margin of 14.33% and a return on equity of 24.26%. The company’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.24 EPS. On average, equities research analysts expect that Stryker Corporation will post $6.43 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, June 30th will be paid a dividend of $0.425 per share. The ex-dividend date is Wednesday, June 28th. This represents a $1.70 dividend on an annualized basis and a yield of 1.20%. Stryker Corporation’s dividend payout ratio is presently 38.20%.
Several brokerages have recently commented on SYK. BidaskClub downgraded Stryker Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Citigroup Inc. increased their price objective on Stryker Corporation from $114.00 to $125.00 and gave the stock a “sell” rating in a research note on Friday, June 9th. Goldman Sachs Group, Inc. (The) began coverage on Stryker Corporation in a research note on Tuesday, May 16th. They issued a “neutral” rating and a $129.00 price objective for the company. Deutsche Bank AG reissued a “buy” rating and issued a $148.00 price objective (up from $135.00) on shares of Stryker Corporation in a research note on Saturday, April 29th. Finally, Barclays PLC reissued a “sell” rating and issued a $133.00 price objective on shares of Stryker Corporation in a research note on Thursday, April 27th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the stock. Stryker Corporation presently has a consensus rating of “Hold” and a consensus price target of $134.29.
In other Stryker Corporation news, insider Timothy J. Scannell sold 13,322 shares of the business’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $135.89, for a total transaction of $1,810,326.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David Floyd sold 7,381 shares of the business’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $144.70, for a total transaction of $1,068,030.70. The disclosure for this sale can be found here. 7.40% of the stock is currently owned by insiders.
Stryker Corporation Company Profile
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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