Sigma Planning Corp lifted its position in shares of Stryker Co. (NYSE:SYK) by 5.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,821 shares of the medical technology company’s stock after purchasing an additional 544 shares during the quarter. Sigma Planning Corp’s holdings in Stryker were worth $2,225,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of SYK. Kavar Capital Partners LLC purchased a new stake in Stryker in the 2nd quarter valued at $50,000. Watch Point Trust Co raised its position in Stryker by 8.8% in the 2nd quarter. Watch Point Trust Co now owns 23,190 shares of the medical technology company’s stock valued at $4,768,000 after buying an additional 1,878 shares during the last quarter. Executive Wealth Management LLC raised its position in Stryker by 1.3% in the 2nd quarter. Executive Wealth Management LLC now owns 13,403 shares of the medical technology company’s stock valued at $2,755,000 after buying an additional 177 shares during the last quarter. TRUE Private Wealth Advisors purchased a new stake in Stryker in the 2nd quarter valued at $93,000. Finally, Lyell Wealth Management LP raised its position in Stryker by 56.5% in the 2nd quarter. Lyell Wealth Management LP now owns 21,975 shares of the medical technology company’s stock valued at $4,529,000 after buying an additional 7,930 shares during the last quarter. 73.48% of the stock is currently owned by institutional investors.
In other Stryker news, Director Allan C. Golston sold 3,399 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $209.84, for a total value of $713,246.16. Following the completion of the transaction, the director now owns 13,762 shares in the company, valued at approximately $2,887,818.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Glenn S. Boehnlein sold 2,700 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $214.16, for a total value of $578,232.00. Following the completion of the transaction, the chief financial officer now owns 20,633 shares of the company’s stock, valued at approximately $4,418,763.28. The disclosure for this sale can be found here. Insiders have sold a total of 15,431 shares of company stock valued at $3,174,489 in the last quarter. 7.20% of the stock is owned by corporate insiders.
Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, July 25th. The medical technology company reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.05. The company had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.60 billion. Stryker had a return on equity of 25.98% and a net margin of 24.99%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.76 EPS. On average, sell-side analysts expect that Stryker Co. will post 8.2 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.08 annualized dividend and a dividend yield of 0.96%. Stryker’s payout ratio is 28.45%.
A number of research firms recently commented on SYK. Raymond James set a $240.00 price target on Stryker and gave the company a “buy” rating in a research report on Friday, July 26th. BTIG Research reissued a “buy” rating and issued a $228.00 price target on shares of Stryker in a research report on Monday, July 29th. Robert W. Baird increased their price target on Stryker from $206.00 to $239.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. BMO Capital Markets set a $216.00 price target on Stryker and gave the company a “hold” rating in a research report on Friday, July 26th. Finally, Zacks Investment Research raised Stryker from a “hold” rating to a “buy” rating and set a $225.00 price target for the company in a research report on Monday, July 29th. Five research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $214.89.
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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