Victory Capital Management Inc. boosted its position in shares of Stryker Corporation (NYSE:SYK) by 12.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,892 shares of the medical technology company’s stock after purchasing an additional 2,253 shares during the period. Victory Capital Management Inc.’s holdings in Stryker Corporation were worth $2,761,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Stryker Corporation by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 23,421,053 shares of the medical technology company’s stock valued at $3,083,382,000 after purchasing an additional 1,161,688 shares during the last quarter. BlackRock Inc. increased its position in Stryker Corporation by 2,526.4% in the 1st quarter. BlackRock Inc. now owns 21,976,771 shares of the medical technology company’s stock valued at $2,893,242,000 after acquiring an additional 21,140,000 shares in the last quarter. Fundsmith LLP increased its position in Stryker Corporation by 4.6% in the 1st quarter. Fundsmith LLP now owns 5,175,453 shares of the medical technology company’s stock valued at $681,348,000 after acquiring an additional 226,057 shares in the last quarter. Wellington Management Group LLP increased its position in Stryker Corporation by 0.5% in the 1st quarter. Wellington Management Group LLP now owns 4,569,118 shares of the medical technology company’s stock valued at $601,525,000 after acquiring an additional 24,139 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Stryker Corporation by 6.3% in the 1st quarter. Geode Capital Management LLC now owns 2,786,406 shares of the medical technology company’s stock valued at $366,255,000 after acquiring an additional 166,133 shares in the last quarter. 74.13% of the stock is owned by hedge funds and other institutional investors.
Stryker Corporation (SYK) opened at 143.04 on Wednesday. Stryker Corporation has a one year low of $106.48 and a one year high of $148.84. The company’s 50-day moving average is $143.56 and its 200-day moving average is $138.98. The firm has a market cap of $53.51 billion, a PE ratio of 31.93 and a beta of 0.81.
Stryker Corporation (NYSE:SYK) last issued its quarterly earnings data on Thursday, July 27th. The medical technology company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.98 billion. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business earned $1.39 EPS. On average, analysts forecast that Stryker Corporation will post $6.46 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be issued a $0.425 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.70 dividend on an annualized basis and a yield of 1.19%. Stryker Corporation’s dividend payout ratio (DPR) is presently 37.95%.
In other Stryker Corporation news, insider Graham A. Mclean sold 1,124 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were 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 owns 8,983 shares of the company’s stock, valued at approximately $1,313,853.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lonny J. Carpenter sold 5,000 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $146.36, for a total transaction of $731,800.00. Following the sale, the insider now directly owns 88,207 shares of the company’s stock, valued at approximately $12,909,976.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,429 shares of company stock valued at $3,686,927. 7.40% of the stock is owned by company insiders.
Several equities research analysts have weighed in on SYK shares. Morgan Stanley raised their price objective on shares of Stryker Corporation from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, June 21st. Royal Bank Of Canada restated a “buy” rating and issued a $155.00 price objective on shares of Stryker Corporation in a research report on Friday, September 1st. Cantor Fitzgerald started coverage on shares of Stryker Corporation in a research report on Thursday, June 29th. They issued a “neutral” rating and a $153.00 price objective for the company. BidaskClub cut shares of Stryker Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Finally, Argus restated a “buy” rating and issued a $160.00 price objective on shares of Stryker Corporation in a research report on Tuesday, August 29th. Two 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. Stryker Corporation presently has an average rating of “Hold” and a consensus target price of $145.73.
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.
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