Alpha Quant Advisors LLC acquired a new position in shares of Stryker Co. (NYSE:SYK) in the 1st quarter, HoldingsChannel reports. The fund acquired 1,367 shares of the medical technology company’s stock, valued at approximately $270,000.
Several other large investors have also added to or reduced their stakes in the company. HighPoint Advisor Group LLC lifted its holdings in shares of Stryker by 6.6% in the 1st quarter. HighPoint Advisor Group LLC now owns 1,387 shares of the medical technology company’s stock valued at $260,000 after purchasing an additional 86 shares during the last quarter. Todd Asset Management LLC raised its stake in Stryker by 8.8% during the 1st quarter. Todd Asset Management LLC now owns 1,442 shares of the medical technology company’s stock valued at $285,000 after acquiring an additional 117 shares during the last quarter. Strategy Asset Managers LLC purchased a new stake in Stryker during the 1st quarter valued at approximately $84,000. New York State Common Retirement Fund raised its stake in Stryker by 0.3% during the 1st quarter. New York State Common Retirement Fund now owns 996,500 shares of the medical technology company’s stock valued at $196,829,000 after acquiring an additional 2,700 shares during the last quarter. Finally, FormulaFolio Investments LLC purchased a new stake in Stryker during the 1st quarter valued at approximately $768,000. 74.71% of the stock is owned by institutional investors and hedge funds.
Several analysts have commented on the company. Deutsche Bank upped their price objective on Stryker from $181.00 to $208.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Robert W. Baird upped their price objective on Stryker from $201.00 to $206.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Zacks Investment Research raised Stryker from a “hold” rating to a “buy” rating and set a $208.00 price objective for the company in a research note on Friday, May 17th. Canaccord Genuity upped their price objective on Stryker from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, Oppenheimer upped their price objective on Stryker from $183.00 to $192.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $196.85.
Stryker (NYSE:SYK) last released its earnings results 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 return on equity of 26.72% and a net margin of 25.38%. The company had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.51 billion. During the same quarter in the previous year, the firm posted $1.68 EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, equities research analysts forecast that Stryker Co. will post 8.15 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.12%. The ex-dividend date is Thursday, June 27th. Stryker’s payout ratio is 28.45%.
In related news, VP Katherine Ann Owen sold 29,247 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $185.62, for a total value of $5,428,828.14. Following the sale, the vice president now owns 11,131 shares in the company, valued at approximately $2,066,136.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Yin C. Becker sold 15,240 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $198.03, for a total value of $3,017,977.20. Following the completion of the sale, the vice president now owns 16,577 shares in the company, valued at approximately $3,282,743.31. The disclosure for this sale can be found here. Insiders have sold a total of 111,550 shares of company stock worth $21,376,317 in the last quarter. 7.20% of the stock is currently owned by insiders.
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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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