Private Harbour Investment Management & Counsel LLC trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 4.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 8,144 shares of the medical technology company’s stock after selling 415 shares during the period. Stryker accounts for approximately 1.7% of Private Harbour Investment Management & Counsel LLC’s holdings, making the stock its 24th largest holding. Private Harbour Investment Management & Counsel LLC’s holdings in Stryker were worth $1,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also made changes to their positions in the company. ERTS Wealth Advisors LLC acquired a new position in Stryker in the 4th quarter valued at $25,000. Farmers National Bank acquired a new position in Stryker in the 1st quarter valued at $25,000. Northwest Wealth Management LLC raised its stake in Stryker by 103.6% in the 4th quarter. Northwest Wealth Management LLC now owns 169 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 86 shares during the last quarter. Semmax Financial Advisors Inc. acquired a new position in Stryker in the 4th quarter valued at $28,000. Finally, Horan Securities Inc. acquired a new position in Stryker in the 4th quarter valued at $30,000. 74.71% of the stock is owned by institutional investors and hedge funds.
SYK has been the subject of several recent research reports. Canaccord Genuity increased their price objective on Stryker from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, January 30th. Credit Suisse Group raised Stryker to an “outperform” rating in a research note on Thursday, January 31st. SunTrust Banks increased their price objective on Stryker to $205.00 and gave the company a “positive” rating in a research note on Monday, February 4th. Zacks Investment Research raised Stryker from a “hold” rating to a “buy” rating and set a $199.00 price objective for the company in a research note on Monday, February 4th. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $205.00 price objective on shares of Stryker in a research note on Friday, March 1st. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $196.85.
Stryker (NYSE:SYK) last issued its earnings results on Tuesday, April 23rd. The medical technology company reported $1.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.84 by $0.04. The company had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.51 billion. Stryker had a return on equity of 26.72% and a net margin of 25.38%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.68 EPS. As a group, equities analysts expect that Stryker Co. will post 8.15 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Thursday, June 27th. Stryker’s dividend payout ratio is presently 28.45%.
In other news, Chairman Kevin Lobo sold 41,750 shares of the stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Timothy J. Scannell sold 4,666 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $186.71, for a total value of $871,188.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,216 shares of company stock valued at $22,245,359. Company insiders own 7.20% of the company’s stock.
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Stryker Company Profile
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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