Stryker Corporation (SYK) Position Lowered by Chesley Taft & Associates LLC
Chesley Taft & Associates LLC cut its stake in shares of Stryker Corporation (NYSE:SYK) by 2.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 107,689 shares of the medical technology company’s stock after selling 2,378 shares during the period. Stryker Corporation comprises approximately 1.3% of Chesley Taft & Associates LLC’s holdings, making the stock its 19th largest position. Chesley Taft & Associates LLC’s holdings in Stryker Corporation were worth $14,945,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of SYK. Baystate Wealth Management LLC increased its stake in shares of Stryker Corporation by 2.1% in the first quarter. Baystate Wealth Management LLC now owns 1,066 shares of the medical technology company’s stock valued at $139,000 after buying an additional 22 shares in the last quarter. Guardian Life Insurance Co. of America increased its stake 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 valued at $158,000 after buying an additional 9 shares in the last quarter. Assetmark Inc. increased its stake 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 valued at $168,000 after buying an additional 4 shares in the last quarter. Mosaic Family Wealth LLC increased its stake in shares of Stryker Corporation by 3.5% in the first quarter. Mosaic Family Wealth LLC now owns 1,300 shares of the medical technology company’s stock valued at $171,000 after buying an additional 44 shares in the last quarter. Finally, Cidel Asset Management Inc. purchased a new stake in shares of Stryker Corporation during the first quarter valued at approximately $205,000. Institutional investors own 73.79% of the company’s stock.
Shares of Stryker Corporation (SYK) traded up 0.80% during mid-day trading on Friday, reaching $139.88. The company’s stock had a trading volume of 1,397,244 shares. Stryker Corporation has a 12 month low of $106.48 and a 12 month high of $148.84. The company has a 50-day moving average of $144.80 and a 200-day moving average of $137.03. The firm has a market cap of $52.32 billion, a PE ratio of 31.22 and a beta of 0.80.
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, analysts predict that Stryker Corporation will post $6.47 earnings per share for the current 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 1.22%. The ex-dividend date is Thursday, September 28th. Stryker Corporation’s dividend payout ratio is presently 37.95%.
Several brokerages have recently commented on SYK. BidaskClub upgraded shares of Stryker Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Canaccord Genuity restated a “buy” rating and issued a $155.00 target price (down previously from $158.00) on shares of Stryker Corporation in a research note on Thursday. Piper Jaffray Companies restated an “overweight” rating and issued a $148.00 target price on shares of Stryker Corporation in a research note on Thursday. Zacks Investment Research cut Stryker Corporation from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Stryker Corporation in a report on Wednesday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $144.97.
In other Stryker Corporation news, insider Graham A. Mclean sold 1,124 shares of the company’s stock in a transaction that occurred on 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 transaction, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David Floyd sold 7,381 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $144.70, for a total value of $1,068,030.70. The disclosure for this sale can be found here. Insiders have sold a total of 32,810 shares of company stock valued at $4,754,958 over the last 90 days. 7.40% of the stock is currently owned by company insiders.
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.
Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Corporation (NYSE:SYK).
Receive News & Ratings for Stryker Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stryker Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.