QUANTRES ASSET MANAGEMENT Ltd bought a new position in shares of Stryker Co. (NYSE:SYK) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,500 shares of the medical technology company’s stock, valued at approximately $691,000.
Other hedge funds have also recently modified their holdings of the company. ERTS Wealth Advisors LLC purchased a new stake in shares of Stryker in the fourth quarter valued at about $25,000. Northwest Wealth Management LLC raised its holdings in shares of Stryker by 103.6% in the fourth quarter. Northwest Wealth Management LLC now owns 169 shares of the medical technology company’s stock valued at $26,000 after buying an additional 86 shares during the last quarter. Semmax Financial Advisors Inc. purchased a new stake in shares of Stryker in the fourth quarter valued at about $28,000. Horan Securities Inc. purchased a new stake in shares of Stryker in the fourth quarter valued at about $30,000. Finally, Truehand Inc acquired a new position in shares of Stryker during the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 74.67% of the company’s stock.
In other Stryker news, VP Katherine Ann Owen sold 29,247 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $185.62, for a total transaction of $5,428,828.14. Following the transaction, the vice president now owns 11,131 shares of the company’s stock, valued at $2,066,136.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Kevin Lobo sold 41,750 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $194.11, for a total transaction of $8,104,092.50. The disclosure for this sale can be found here. Insiders have sold 133,134 shares of company stock worth $25,224,935 in the last three months. Insiders own 7.20% of the company’s stock.
Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, April 23rd. The medical technology company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.04. The business had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.51 billion. Stryker had a net margin of 25.38% and a return on equity of 26.72%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.68 earnings per share. As a group, sell-side analysts anticipate that Stryker Co. will post 8.15 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Thursday, June 27th. Stryker’s payout ratio is 28.45%.
A number of research analysts have recently issued reports on the stock. Deutsche Bank boosted their price target on shares of Stryker from $181.00 to $208.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Robert W. Baird boosted their price target on shares of Stryker from $201.00 to $206.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. ValuEngine upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Friday. Canaccord Genuity boosted their price target on shares of Stryker from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Oppenheimer upped their target price on shares of Stryker from $183.00 to $192.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Stryker has a consensus rating of “Buy” and an average price target of $196.89.
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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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