California Public Employees Retirement System raised its stake in Stryker Corporation (NYSE:SYK) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 722,526 shares of the medical technology company’s stock after acquiring an additional 13,300 shares during the period. California Public Employees Retirement System owned approximately 0.19% of Stryker Corporation worth $100,272,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC purchased a new stake in shares of Stryker Corporation in the second quarter worth $111,000. Motco grew its stake in shares of Stryker Corporation by 50.7% in the second quarter. Motco now owns 826 shares of the medical technology company’s stock worth $115,000 after acquiring an additional 278 shares during the last quarter. Bollard Group LLC grew its stake in shares of Stryker Corporation by 0.4% in the second quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock worth $115,000 after acquiring an additional 3 shares during the last quarter. Bruderman Asset Management LLC purchased a new stake in shares of Stryker Corporation in the second quarter worth $150,000. Finally, James Investment Research Inc. purchased a new stake in shares of Stryker Corporation in the second quarter worth $155,000. 74.13% of the stock is currently owned by hedge funds and other institutional investors.
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Stryker Corporation (NYSE SYK) opened at 146.56 on Friday. The company has a market capitalization of $54.82 billion, a P/E ratio of 32.71 and a beta of 0.80. The stock’s 50 day moving average price is $142.74 and its 200-day moving average price is $140.38. Stryker Corporation has a one year low of $106.48 and a one year high of $149.23.
Stryker Corporation (NYSE:SYK) last posted its quarterly earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.02. The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.98 billion. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.39 EPS. Equities analysts forecast that Stryker Corporation will post $6.45 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be paid a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.70 annualized dividend and a yield of 1.16%. Stryker Corporation’s payout ratio is presently 37.95%.
In other Stryker Corporation news, insider Graham A. Mclean sold 1,124 shares of the business’s 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 sale, the insider now owns 8,983 shares in the company, valued at approximately $1,313,853.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Lonny J. Carpenter sold 5,000 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $146.36, for a total value of $731,800.00. Following the sale, the insider now owns 88,207 shares in the company, valued at approximately $12,909,976.52. The disclosure for this sale can be found here. 7.40% of the stock is currently owned by insiders.
A number of equities research analysts have recently commented on the company. Zacks Investment Research cut Stryker Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. BidaskClub cut Stryker Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Cowen and Company set a $160.00 target price on Stryker Corporation and gave the stock a “buy” rating in a research note on Friday, October 6th. Oppenheimer Holdings, Inc. set a $148.00 target price on Stryker Corporation and gave the stock a “hold” rating in a research note on Friday, July 28th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $132.00 target price on shares of Stryker Corporation in a research note on Friday, June 30th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. Stryker Corporation has a consensus rating of “Hold” and a consensus target price of $146.78.
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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