Noesis Capital Mangement Corp decreased its stake in shares of Stryker Corporation (NYSE:SYK) by 0.2% during the first quarter, Holdings Channel reports. The fund owned 63,390 shares of the medical technology company’s stock after selling 125 shares during the period. Stryker Corporation comprises approximately 3.2% of Noesis Capital Mangement Corp’s investment portfolio, making the stock its 8th largest position. Noesis Capital Mangement Corp’s holdings in Stryker Corporation were worth $8,345,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Bollard Group LLC boosted its position in Stryker Corporation by 0.4% in the first quarter. Bollard Group LLC now owns 829 shares of the medical technology company’s stock valued at $109,000 after buying an additional 3 shares during the last quarter. Assetmark Inc. boosted its position in Stryker Corporation by 0.3% in the first quarter. Assetmark Inc. now owns 1,274 shares of the medical technology company’s stock valued at $168,000 after buying an additional 4 shares during the last quarter. Blue Chip Partners Inc. boosted its position in Stryker Corporation by 0.3% in the first quarter. Blue Chip Partners Inc. now owns 1,775 shares of the medical technology company’s stock valued at $234,000 after buying an additional 6 shares during the last quarter. Baystate Wealth Management LLC boosted its position in Stryker Corporation by 2.1% in the first quarter. Baystate Wealth Management LLC now owns 1,066 shares of the medical technology company’s stock valued at $139,000 after buying an additional 22 shares during the last quarter. Finally, BKD Wealth Advisors LLC boosted its position in Stryker Corporation by 1.1% in the first quarter. BKD Wealth Advisors LLC now owns 3,356 shares of the medical technology company’s stock valued at $442,000 after buying an additional 35 shares during the last quarter. 74.26% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Stryker Corporation (SYK) opened at 141.12 on Monday. Stryker Corporation has a 12-month low of $106.48 and a 12-month high of $145.62. The company has a market capitalization of $52.75 billion, a PE ratio of 31.71 and a beta of 0.79. The firm’s 50-day moving average price is $140.23 and its 200-day moving average price is $130.49.
Stryker Corporation (NYSE:SYK) last posted its quarterly earnings results on Tuesday, April 25th. The medical technology company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.43 by $0.05. Stryker Corporation had a net margin of 14.33% and a return on equity of 24.26%. The company had revenue of $2.96 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period in the prior year, the company earned $1.24 earnings per share. The firm’s revenue was up 18.4% on a year-over-year basis. On average, analysts expect that Stryker Corporation will post $6.43 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, June 30th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Wednesday, June 28th. Stryker Corporation’s payout ratio is 38.20%.
Several research firms have recently weighed in on SYK. BMO Capital Markets reissued a “hold” rating and set a $125.00 price target on shares of Stryker Corporation in a report on Tuesday, April 11th. Oppenheimer Holdings, Inc. set a $135.00 price target on Stryker Corporation and gave the company a “hold” rating in a report on Saturday, April 8th. Jefferies Group LLC reissued a “hold” rating and set a $132.00 price target on shares of Stryker Corporation in a report on Thursday, April 13th. Piper Jaffray Companies reissued an “overweight” rating and set a $148.00 price target on shares of Stryker Corporation in a report on Monday, April 17th. Finally, Barclays PLC reissued a “sell” rating and set a $133.00 price target on shares of Stryker Corporation in a report on Thursday, April 27th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company. Stryker Corporation currently has a consensus rating of “Hold” and an average price target of $135.73.
In other Stryker Corporation news, insider David Floyd sold 7,381 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $144.70, for a total value of $1,068,030.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Timothy J. Scannell sold 13,322 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $135.89, for a total transaction of $1,810,326.58. The disclosure for this sale can be found here. 7.40% of the stock is currently owned by corporate 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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