JLB & Associates Inc. raised its holdings in Stryker Co. (NYSE:SYK) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,817 shares of the medical technology company’s stock after buying an additional 110 shares during the quarter. JLB & Associates Inc.’s holdings in Stryker were worth $5,614,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Moody National Bank Trust Division acquired a new position in Stryker in the fourth quarter valued at approximately $32,000. Cornerstone Advisors Inc. increased its holdings in shares of Stryker by 17.4% during the third quarter. Cornerstone Advisors Inc. now owns 485 shares of the medical technology company’s stock valued at $86,000 after acquiring an additional 72 shares in the last quarter. Atlantic Trust LLC bought a new stake in shares of Stryker during the second quarter valued at approximately $105,000. Centaurus Financial Inc. bought a new stake in shares of Stryker during the second quarter valued at approximately $110,000. Finally, NuWave Investment Management LLC increased its holdings in shares of Stryker by 3,245.0% during the third quarter. NuWave Investment Management LLC now owns 669 shares of the medical technology company’s stock valued at $119,000 after acquiring an additional 649 shares in the last quarter. 73.30% of the stock is currently owned by hedge funds and other institutional investors.
SYK has been the subject of several recent research reports. Zacks Investment Research upgraded Stryker from a “hold” rating to a “buy” rating and set a $195.00 price objective for the company in a report on Wednesday, December 5th. Cowen set a $195.00 price objective on Stryker and gave the company a “buy” rating in a report on Friday, November 9th. Deutsche Bank initiated coverage on Stryker in a report on Wednesday, January 2nd. They set a “buy” rating and a $179.00 price objective for the company. Oppenheimer set a $170.00 price objective on Stryker and gave the company a “hold” rating in a report on Friday, October 26th. Finally, Needham & Company LLC restated a “hold” rating on shares of Stryker in a report on Friday, November 9th. Eight analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Stryker has an average rating of “Buy” and an average price target of $181.68.
Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, October 25th. The medical technology company reported $1.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.01. Stryker had a return on equity of 28.00% and a net margin of 9.31%. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.26 billion. On average, analysts predict that Stryker Co. will post 7.28 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 31st. Investors of record on Monday, December 31st will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, December 28th. This represents a $2.08 annualized dividend and a yield of 1.31%. This is an increase from Stryker’s previous quarterly dividend of $0.47. Stryker’s dividend payout ratio is 32.05%.
In other Stryker news, VP M Kathryn Fink sold 415 shares of the company’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $166.56, for a total value of $69,122.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Bijoy Sagar sold 2,361 shares of the company’s stock in a transaction on Friday, December 7th. The shares were sold at an average price of $171.24, for a total value of $404,297.64. Following the completion of the transaction, the vice president now owns 2,361 shares of the company’s stock, valued at approximately $404,297.64. The disclosure for this sale can be found here. Insiders have sold 12,108 shares of company stock valued at $1,981,471 in the last quarter. 7.30% of the stock is currently owned by corporate insiders.
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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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