AGF Investments Inc. Increases Stake in Stryker Corporation (SYK)

AGF Investments Inc. boosted its position in shares of Stryker Corporation (NYSE:SYK) by 10.6% during the first quarter, Holdings Channel reports. The fund owned 3,540 shares of the medical technology company’s stock after buying an additional 340 shares during the period. AGF Investments Inc.’s holdings in Stryker Corporation were worth $465,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SYK. Franklin Resources Inc. raised its position in Stryker Corporation by 2.2% in the fourth quarter. Franklin Resources Inc. now owns 12,270,194 shares of the medical technology company’s stock worth $1,470,104,000 after buying an additional 265,300 shares during the last quarter. Fundsmith LLP raised its position in Stryker Corporation by 4.6% in the first quarter. Fundsmith LLP now owns 5,175,453 shares of the medical technology company’s stock worth $681,348,000 after buying an additional 226,057 shares during the last quarter. Norges Bank purchased a new position in Stryker Corporation during the fourth quarter worth about $292,752,000. Wells Fargo & Company MN raised its position in Stryker Corporation by 6.7% in the first quarter. Wells Fargo & Company MN now owns 1,713,586 shares of the medical technology company’s stock worth $225,594,000 after buying an additional 107,170 shares during the last quarter. Finally, Swiss National Bank raised its position in Stryker Corporation by 22.1% in the first quarter. Swiss National Bank now owns 1,502,071 shares of the medical technology company’s stock worth $197,748,000 after buying an additional 272,300 shares during the last quarter. 74.26% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Stryker Corporation (NYSE:SYK)

Stryker Corporation (NYSE:SYK) opened at 141.22 on Friday. The company’s 50-day moving average is $139.24 and its 200-day moving average is $129.39. The stock has a market capitalization of $52.78 billion, a P/E ratio of 31.73 and a beta of 0.81. Stryker Corporation has a 12 month low of $106.48 and a 12 month high of $145.62.

Stryker Corporation (NYSE:SYK) last announced its earnings results on Tuesday, April 25th. The medical technology company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.43 by $0.05. The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.90 billion. Stryker Corporation had a net margin of 14.33% and a return on equity of 24.26%. The business’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period last year, the company posted $1.24 EPS. Equities analysts anticipate that Stryker Corporation will post $6.43 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, June 30th will be issued a dividend of $0.425 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $1.70 annualized dividend and a yield of 1.20%. Stryker Corporation’s dividend payout ratio (DPR) is currently 38.20%.

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A number of research analysts have issued reports on SYK shares. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Stryker Corporation in a research note on Monday. Citigroup Inc. boosted their price target on shares of Stryker Corporation from $114.00 to $125.00 and gave the stock a “sell” rating in a research report on Friday, June 9th. Royal Bank Of Canada restated an “outperform” rating and set a $140.00 price target (up from $135.00) on shares of Stryker Corporation in a research report on Wednesday, April 26th. Deutsche Bank AG restated a “buy” rating and set a $148.00 price target (up from $135.00) on shares of Stryker Corporation in a research report on Saturday, April 29th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $148.00 price target on shares of Stryker Corporation in a research report on Monday, April 17th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $134.82.

In other Stryker Corporation news, insider David Floyd sold 7,381 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $144.70, for a total transaction of $1,068,030.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Timothy J. Scannell sold 13,322 shares of the firm’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $135.89, for a total transaction of $1,810,326.58. The disclosure for this sale can be found here. Company insiders own 7.40% of the company’s stock.

Stryker Corporation Company Profile

Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.

Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Corporation (NYSE:SYK).

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