Moody Lynn & Lieberson LLC increased its stake in Stryker Co. (NYSE:SYK) by 0.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 72,948 shares of the medical technology company’s stock after acquiring an additional 515 shares during the quarter. Stryker makes up 1.6% of Moody Lynn & Lieberson LLC’s holdings, making the stock its 22nd largest holding. Moody Lynn & Lieberson LLC’s holdings in Stryker were worth $14,997,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Farmers National Bank purchased a new position in shares of Stryker during the first quarter valued at $25,000. Cable Hill Partners LLC acquired a new stake in Stryker during the first quarter valued at $30,000. RPG Investment Advisory LLC boosted its position in Stryker by 160.0% during the first quarter. RPG Investment Advisory LLC now owns 156 shares of the medical technology company’s stock valued at $31,000 after purchasing an additional 96 shares during the last quarter. Horan Capital Advisors LLC. acquired a new stake in Stryker during the first quarter valued at $40,000. Finally, Webster Bank N. A. boosted its position in Stryker by 300.0% during the second quarter. Webster Bank N. A. now owns 200 shares of the medical technology company’s stock valued at $41,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 73.53% of the company’s stock.
In related news, insider Timothy J. Scannell sold 4,666 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $186.71, for a total transaction of $871,188.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Bijoy Sagar sold 2,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $190.43, for a total value of $380,860.00. Following the transaction, the vice president now directly owns 3,350 shares of the company’s stock, valued at approximately $637,940.50. The disclosure for this sale can be found here. Insiders sold 21,398 shares of company stock valued at $4,221,459 in the last ninety days. Insiders own 7.20% of the company’s stock.
Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, July 25th. The medical technology company reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. Stryker had a return on equity of 25.98% and a net margin of 24.99%. The company had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.60 billion. During the same quarter in the previous year, the firm earned $1.76 earnings per share. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, research analysts anticipate that Stryker Co. will post 8.2 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.98%. Stryker’s dividend payout ratio is currently 28.45%.
A number of analysts recently issued reports on SYK shares. Canaccord Genuity lifted their price objective on Stryker from $195.00 to $233.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Royal Bank of Canada set a $220.00 price objective on Stryker and gave the company a “buy” rating in a research report on Friday, July 26th. BTIG Research reissued a “buy” rating and set a $228.00 price objective on shares of Stryker in a research report on Monday. Svb Leerink reissued an “outperform” rating on shares of Stryker in a research report on Wednesday, July 10th. Finally, Zacks Investment Research raised Stryker from a “hold” rating to a “buy” rating and set a $225.00 price objective for the company in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $214.89.
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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