Legal & General Group Plc grew its position in shares of Stryker Corporation (NYSE:SYK) by 4.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,756,429 shares of the medical technology company’s stock after buying an additional 78,126 shares during the period. Legal & General Group Plc owned approximately 0.47% of Stryker Corporation worth $243,769,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Bollard Group LLC increased its position in Stryker Corporation by 0.4% during the 2nd quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock worth $115,000 after buying an additional 3 shares during the period. Assetmark Inc. increased its position in shares of Stryker Corporation by 0.3% in the first quarter. Assetmark Inc. now owns 1,274 shares of the medical technology company’s stock worth $168,000 after purchasing an additional 4 shares during the period. Blue Chip Partners Inc. increased its position in shares of Stryker Corporation by 0.3% in the first quarter. Blue Chip Partners Inc. now owns 1,775 shares of the medical technology company’s stock worth $234,000 after purchasing an additional 6 shares during the period. Guardian Life Insurance Co. of America increased its position in shares of Stryker Corporation by 0.8% in the first quarter. Guardian Life Insurance Co. of America now owns 1,199 shares of the medical technology company’s stock worth $158,000 after purchasing an additional 9 shares during the period. Finally, FineMark National Bank & Trust increased its position in shares of Stryker Corporation by 0.4% in the second quarter. FineMark National Bank & Trust now owns 3,878 shares of the medical technology company’s stock worth $538,000 after purchasing an additional 15 shares during the period. Hedge funds and other institutional investors own 74.18% of the company’s stock.
A number of brokerages recently commented on SYK. BidaskClub upgraded Stryker Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Cowen and Company restated a “buy” rating and issued a $160.00 price target (up previously from $150.00) on shares of Stryker Corporation in a research report on Sunday, July 30th. Zacks Investment Research cut Stryker Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Canaccord Genuity restated a “buy” rating and issued a $155.00 price target (down previously from $158.00) on shares of Stryker Corporation in a research report on Thursday, August 24th. Finally, Oppenheimer Holdings, Inc. set a $148.00 price target on Stryker Corporation and gave the stock a “hold” rating in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $145.73.
In related news, insider Graham A. Mclean sold 1,124 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $146.26, for a total transaction of $164,396.24. Following the completion of the sale, the insider now directly owns 8,983 shares in the company, valued at approximately $1,313,853.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David Floyd sold 19,305 shares of the stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $144.56, for a total value of $2,790,730.80. The disclosure for this sale can be found here. Insiders have sold a total of 25,429 shares of company stock valued at $3,686,927 over the last 90 days. 7.40% of the stock is currently owned by company insiders.
Stryker Corporation (NYSE:SYK) opened at 143.03 on Thursday. Stryker Corporation has a 12 month low of $106.48 and a 12 month high of $148.84. The company has a market capitalization of $53.50 billion, a P/E ratio of 31.93 and a beta of 0.81. The stock’s 50 day moving average price is $143.90 and its 200-day moving average price is $138.47.
Stryker Corporation (NYSE:SYK) last issued its earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. Stryker Corporation’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.39 EPS. On average, equities research analysts predict that Stryker Corporation will post $6.46 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Thursday, September 28th. Stryker Corporation’s dividend payout ratio is presently 37.95%.
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Stryker Corporation 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.
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