Essex Financial Services Inc. decreased its stake in shares of Stryker Corporation (NYSE:SYK) by 2.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 10,620 shares of the medical technology company’s stock after selling 288 shares during the period. Essex Financial Services Inc.’s holdings in Stryker Corporation were worth $1,272,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Arrow Financial Corp boosted its position in shares of Stryker Corporation by 425.8% in the second quarter. Arrow Financial Corp now owns 9,570 shares of the medical technology company’s stock worth $1,147,000 after buying an additional 7,750 shares during the period. Mizuho Trust & Banking Co. Ltd. boosted its position in shares of Stryker Corporation by 1.5% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 526,984 shares of the medical technology company’s stock worth $63,148,000 after buying an additional 7,563 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Stryker Corporation by 2.1% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 49,944 shares of the medical technology company’s stock worth $5,985,000 after buying an additional 1,038 shares during the period. Putnam FL Investment Management Co. boosted its position in shares of Stryker Corporation by 77.1% in the second quarter. Putnam FL Investment Management Co. now owns 55,030 shares of the medical technology company’s stock worth $6,594,000 after buying an additional 23,953 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Stryker Corporation by 26.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,994 shares of the medical technology company’s stock worth $7,069,000 after buying an additional 12,408 shares during the period. Institutional investors and hedge funds own 75.29% of the company’s stock.
Shares of Stryker Corporation (NYSE:SYK) opened at 125.26 on Wednesday. The stock has a market cap of $46.91 billion, a P/E ratio of 28.80 and a beta of 0.80. Stryker Corporation has a 1-year low of $95.79 and a 1-year high of $127.23. The firm’s 50-day moving average price is $121.89 and its 200 day moving average price is $116.54.
Stryker Corporation (NYSE:SYK) last announced its quarterly earnings data on Tuesday, January 24th. The medical technology company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.02. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Stryker Corporation had a return on equity of 23.86% and a net margin of 14.54%. The company’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period last year, the firm earned $1.56 earnings per share. On average, equities analysts expect that Stryker Corporation will post $6.41 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, March 31st will be paid a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Wednesday, March 29th. Stryker Corporation’s payout ratio is currently 39.08%.
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A number of research firms recently issued reports on SYK. Canaccord Genuity set a $127.00 price objective on Stryker Corporation and gave the company a “buy” rating in a report on Sunday, October 30th. Oppenheimer Holdings, Inc. set a $122.00 price objective on Stryker Corporation and gave the company a “hold” rating in a report on Sunday, October 30th. RBC Capital Markets restated a “buy” rating and set a $129.00 price objective on shares of Stryker Corporation in a report on Friday, January 6th. Edward Jones cut Stryker Corporation from a “buy” rating to a “hold” rating in a report on Thursday, January 5th. Finally, Zacks Investment Research upgraded Stryker Corporation from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a report on Monday, December 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $125.75.
In other news, Director Ronda E. Stryker sold 6,000 shares of the stock in a transaction on Monday, November 21st. The stock was sold at an average price of $112.01, for a total value of $672,060.00. Following the sale, the director now directly owns 193,142 shares in the company, valued at $21,633,835.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Louise Francesconi sold 3,716 shares of the stock in a transaction on Monday, January 30th. The shares were sold at an average price of $122.34, for a total value of $454,615.44. Following the completion of the sale, the director now owns 20,242 shares in the company, valued at $2,476,406.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 194,570 shares of company stock worth $22,485,637. Insiders own 7.80% of the company’s stock.
Stryker Corporation Company Profile
Stryker Corporation (Stryker) is a medical technology company. The Company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Company’s Orthopaedics segment products consist of implants used in hip and knee joint replacements and trauma and surgeries. The Company’s MedSurg segment products consist of surgical equipment and surgical navigation systems (Instruments); endoscopic and communications systems (Endoscopy); patient handling and emergency medical equipment (Medical), and reprocessed and remanufactured medical devices (Sustainability), as well as other medical device products used in a range of medical specialties.
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