Keybank National Association OH lowered its stake in Stryker Co. (NYSE:SYK) by 0.9% during the first quarter, HoldingsChannel.com reports. The firm owned 166,285 shares of the medical technology company’s stock after selling 1,552 shares during the period. Keybank National Association OH’s holdings in Stryker were worth $32,845,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of SYK. Welch Group LLC boosted its stake in shares of Stryker by 1.5% during the first quarter. Welch Group LLC now owns 3,774 shares of the medical technology company’s stock valued at $745,000 after purchasing an additional 54 shares in the last quarter. Independence Bank of Kentucky boosted its stake in shares of Stryker by 4.9% during the first quarter. Independence Bank of Kentucky now owns 1,180 shares of the medical technology company’s stock valued at $233,000 after purchasing an additional 55 shares in the last quarter. Benedict Financial Advisors Inc. boosted its stake in shares of Stryker by 1.1% during the first quarter. Benedict Financial Advisors Inc. now owns 5,235 shares of the medical technology company’s stock valued at $1,034,000 after purchasing an additional 57 shares in the last quarter. 1ST Source Bank boosted its stake in shares of Stryker by 3.5% during the first quarter. 1ST Source Bank now owns 1,760 shares of the medical technology company’s stock valued at $348,000 after purchasing an additional 60 shares in the last quarter. Finally, Westside Investment Management Inc. boosted its stake in shares of Stryker by 38.7% during the fourth 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. Institutional investors own 74.71% of the company’s stock.
In other Stryker news, insider Timothy J. Scannell sold 4,666 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $193.28, for a total value of $901,844.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Katherine Ann Owen sold 29,247 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $185.62, for a total value of $5,428,828.14. Following the completion of the transaction, the vice president now directly owns 11,131 shares in the company, valued at $2,066,136.22. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,550 shares of company stock worth $21,376,317. 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, topping the Zacks’ consensus estimate 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 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 previous year, the firm earned $1.68 earnings per share. Equities analysts predict 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. Shareholders of record on Friday, June 28th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Thursday, June 27th. Stryker’s dividend payout ratio (DPR) is presently 28.45%.
A number of analysts have recently commented on the company. Wells Fargo & Co lifted their price target on Stryker from $214.00 to $219.00 and gave the company an “outperform” rating in a research note on Monday, April 1st. Zacks Investment Research lowered Stryker from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. BTIG Research lifted their price target on Stryker to $211.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Barclays lifted their price target on Stryker from $203.00 to $211.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, JPMorgan Chase & Co. lifted their price objective on Stryker from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Stryker presently has an average rating of “Buy” and a consensus price target of $196.85.
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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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