Quadrant Capital Group LLC raised its holdings in Stryker Co. (NYSE:SYK) by 78.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 721 shares of the medical technology company’s stock after acquiring an additional 318 shares during the quarter. Quadrant Capital Group LLC’s holdings in Stryker were worth $130,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of SYK. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Stryker by 28.0% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 106,973 shares of the medical technology company’s stock worth $21,129,000 after acquiring an additional 23,384 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Stryker by 6.1% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 49,309 shares of the medical technology company’s stock worth $9,740,000 after acquiring an additional 2,844 shares in the last quarter. Securian Asset Management Inc raised its stake in Stryker by 0.6% during the 1st quarter. Securian Asset Management Inc now owns 32,154 shares of the medical technology company’s stock worth $6,351,000 after acquiring an additional 196 shares in the last quarter. Farmers & Merchants Investments Inc. raised its stake in Stryker by 2.0% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 51,294 shares of the medical technology company’s stock worth $10,132,000 after acquiring an additional 1,012 shares in the last quarter. Finally, FTB Advisors Inc. raised its stake in Stryker by 17.9% during the 1st quarter. FTB Advisors Inc. now owns 3,725 shares of the medical technology company’s stock worth $735,000 after acquiring an additional 565 shares in the last quarter. 74.67% of the stock is owned by institutional investors.
In other news, VP M Kathryn Fink sold 180 shares of the business’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $176.77, for a total transaction of $31,818.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Yin C. Becker sold 15,240 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $198.03, for a total transaction of $3,017,977.20. Following the transaction, the vice president now owns 16,577 shares in the company, valued at $3,282,743.31. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 133,134 shares of company stock worth $25,224,935. Company insiders own 7.20% of the company’s stock.
Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, April 23rd. The medical technology company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.04. The company had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.51 billion. Stryker had a net margin of 25.38% and a return on equity of 26.72%. Stryker’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.68 earnings per share. Equities analysts anticipate that Stryker Co. will post 8.15 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be paid a dividend of $0.52 per share. The ex-dividend date is Thursday, June 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.09%. Stryker’s dividend payout ratio (DPR) is 28.45%.
SYK has been the topic of several research analyst reports. Barclays set a $203.00 price target on shares of Stryker and gave the stock a “buy” rating in a research note on Friday, March 8th. Zacks Investment Research upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $199.00 price target on the stock in a research note on Monday, February 4th. Canaccord Genuity lifted their price target on shares of Stryker from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, January 30th. BTIG Research lifted their price target on shares of Stryker to $211.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, Deutsche Bank lifted 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. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Stryker presently 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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