Tompkins Financial Corp decreased its position in shares of Stryker Co. (NYSE:SYK) by 2.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 10,826 shares of the medical technology company’s stock after selling 244 shares during the period. Tompkins Financial Corp’s holdings in Stryker were worth $1,697,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. FMR LLC lifted its position in shares of Stryker by 24.0% during the 2nd quarter. FMR LLC now owns 5,327,862 shares of the medical technology company’s stock worth $899,662,000 after buying an additional 1,032,333 shares during the last quarter. Centaurus Financial Inc. bought a new stake in shares of Stryker during the 2nd quarter worth $110,000. Advisors Asset Management Inc. lifted its position in shares of Stryker by 1.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 33,452 shares of the medical technology company’s stock worth $5,649,000 after buying an additional 494 shares during the last quarter. United Services Automobile Association lifted its position in shares of Stryker by 0.8% during the 2nd quarter. United Services Automobile Association now owns 355,626 shares of the medical technology company’s stock worth $60,051,000 after buying an additional 2,908 shares during the last quarter. Finally, CENTRAL TRUST Co lifted its position in shares of Stryker by 23.7% during the 3rd quarter. CENTRAL TRUST Co now owns 19,534 shares of the medical technology company’s stock worth $3,471,000 after buying an additional 3,742 shares during the last quarter. Hedge funds and other institutional investors own 74.99% of the company’s stock.
SYK has been the subject of several recent analyst reports. Zacks Investment Research upgraded Stryker from a “hold” rating to a “buy” rating and set a $195.00 price objective for the company in a research report on Wednesday, December 5th. Cowen set a $195.00 price objective on Stryker and gave the stock a “buy” rating in a research report on Friday, November 9th. Deutsche Bank initiated coverage on Stryker in a research report on Wednesday, January 2nd. They set a “buy” rating and a $179.00 price objective for the company. Canaccord Genuity upped their price objective on Stryker from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, January 30th. Finally, Oppenheimer set a $170.00 price objective on Stryker and gave the stock a “hold” rating in a research report on Friday, November 9th. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $185.37.
Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 29th. The medical technology company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. The firm had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.73 billion. Stryker had a return on equity of 27.60% and a net margin of 26.12%. On average, research analysts anticipate that Stryker Co. will post 8.12 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $2.08 annualized dividend and a dividend yield of 1.12%. Stryker’s payout ratio is 28.45%.
In other news, VP M Kathryn Fink sold 180 shares of the stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $176.77, for a total value of $31,818.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Bijoy Sagar sold 2,361 shares of the stock in a transaction dated Friday, December 7th. The shares were sold at an average price of $171.24, for a total value of $404,297.64. Following the completion of the sale, the vice president now directly owns 2,361 shares of the company’s stock, valued at approximately $404,297.64. The disclosure for this sale can be found here. In the last three months, insiders sold 43,259 shares of company stock valued at $7,515,747. Insiders own 7.30% of the company’s stock.
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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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