BTR Capital Management Inc. lessened its holdings in Stryker Co. (NYSE:SYK) by 4.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,240 shares of the medical technology company’s stock after selling 100 shares during the period. BTR Capital Management Inc.’s holdings in Stryker were worth $442,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Westside Investment Management Inc. increased its stake in Stryker by 38.7% during the 4th quarter. Westside Investment Management Inc. now owns 233 shares of the medical technology company’s stock valued at $37,000 after purchasing an additional 65 shares in the last quarter. First Hawaiian Bank increased its stake in shares of Stryker by 0.5% in the first quarter. First Hawaiian Bank now owns 12,570 shares of the medical technology company’s stock worth $2,483,000 after acquiring an additional 67 shares during the period. DAVENPORT & Co LLC increased its stake in shares of Stryker by 1.6% in the fourth quarter. DAVENPORT & Co LLC now owns 4,340 shares of the medical technology company’s stock worth $680,000 after acquiring an additional 70 shares during the period. Wedbush Securities Inc. increased its stake in shares of Stryker by 1.6% in the fourth quarter. Wedbush Securities Inc. now owns 4,497 shares of the medical technology company’s stock worth $705,000 after acquiring an additional 70 shares during the period. Finally, First Allied Advisory Services Inc. increased its stake in shares of Stryker by 0.4% in the fourth quarter. First Allied Advisory Services Inc. now owns 16,700 shares of the medical technology company’s stock worth $2,625,000 after acquiring an additional 71 shares during the period. 74.67% of the stock is owned by hedge funds and other institutional investors.
SYK has been the topic of a number of research reports. Morgan Stanley cut their price objective on shares of Stryker from $212.00 to $197.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 2nd. SunTrust Banks increased their price target on shares of Stryker to $205.00 and gave the stock a “positive” rating in a report on Monday, February 4th. Royal Bank of Canada increased their price target on shares of Stryker from $184.00 to $204.00 and gave the stock an “outperform” rating in a report on Monday, March 11th. Credit Suisse Group raised shares of Stryker to an “outperform” rating in a report on Thursday, January 31st. Finally, Wells Fargo & Co increased their price target on shares of Stryker from $214.00 to $219.00 and gave the stock an “outperform” rating in a report on Monday, April 1st. Seven analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $196.44.
Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, April 23rd. The medical technology company reported $1.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.84 by $0.04. Stryker had a net margin of 25.38% and a return on equity of 27.58%. The firm had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same period last year, the business earned $1.68 earnings per share. Stryker’s revenue was up 8.5% compared to the same quarter last year. As a group, analysts forecast that Stryker Co. will post 8.13 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Thursday, March 28th. Stryker’s dividend payout ratio is presently 28.45%.
In related news, Chairman Kevin Lobo sold 41,750 shares of Stryker stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $194.11, for a total value of $8,104,092.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Katherine Ann Owen sold 29,247 shares of Stryker stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $185.62, for a total transaction of $5,428,828.14. Following the completion of the transaction, the vice president now owns 11,131 shares of the company’s stock, valued at approximately $2,066,136.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 130,455 shares of company stock valued at $24,723,292. Company insiders own 7.20% 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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