Peak Asset Management LLC Sells 1,095 Shares of Stryker Corporation (SYK)
Peak Asset Management LLC reduced its position in shares of Stryker Corporation (NYSE:SYK) by 1.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 64,635 shares of the medical technology company’s stock after selling 1,095 shares during the quarter. Stryker Corporation accounts for approximately 3.3% of Peak Asset Management LLC’s holdings, making the stock its 6th biggest position. Peak Asset Management LLC’s holdings in Stryker Corporation were worth $8,970,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. Retirement Systems of Alabama grew its stake in shares of Stryker Corporation by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 229,214 shares of the medical technology company’s stock valued at $31,810,000 after purchasing an additional 813 shares during the period. JLB & Associates Inc. bought a new stake in shares of Stryker Corporation during the 2nd quarter valued at about $5,090,000. Callahan Advisors LLC grew its stake in shares of Stryker Corporation by 0.8% during the 2nd quarter. Callahan Advisors LLC now owns 63,497 shares of the medical technology company’s stock valued at $8,812,000 after purchasing an additional 525 shares during the period. Eagle Ridge Investment Management grew its stake in shares of Stryker Corporation by 8.8% during the 2nd quarter. Eagle Ridge Investment Management now owns 46,989 shares of the medical technology company’s stock valued at $6,222,000 after purchasing an additional 3,815 shares during the period. Finally, Smithfield Trust Co. grew its stake in shares of Stryker Corporation by 3.1% during the 2nd quarter. Smithfield Trust Co. now owns 3,263 shares of the medical technology company’s stock valued at $453,000 after purchasing an additional 97 shares during the period. Institutional investors and hedge funds own 74.18% of the company’s stock.
Shares of Stryker Corporation (NYSE SYK) opened at 141.61 on Wednesday. Stryker Corporation has a one year low of $106.48 and a one year high of $148.84. The stock has a market capitalization of $52.97 billion, a PE ratio of 31.61 and a beta of 0.81. The stock’s 50 day moving average price is $144.44 and its 200 day moving average price is $138.02.
Stryker Corporation (NYSE:SYK) last issued its quarterly earnings data on Thursday, July 27th. The medical technology company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.51 by $0.02. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same period last year, the company earned $1.39 earnings per share. Stryker Corporation’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities research analysts predict that Stryker Corporation will post $6.47 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Thursday, September 28th. Stryker Corporation’s payout ratio is currently 37.95%.
SYK has been the topic of a number of analyst reports. Cowen and Company reaffirmed a “buy” rating and set a $160.00 price objective (up from $150.00) on shares of Stryker Corporation in a research report on Sunday, July 30th. BidaskClub raised Stryker Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Zacks Investment Research cut Stryker Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Oppenheimer Holdings, Inc. set a $148.00 price objective on Stryker Corporation and gave the company a “hold” rating in a research report on Friday, July 28th. Finally, Royal Bank Of Canada lifted their price objective on Stryker Corporation from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Stryker Corporation has an average rating of “Hold” and an average price target of $145.73.
In other news, insider David Floyd sold 19,305 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $144.56, for a total value of $2,790,730.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Graham A. Mclean sold 1,124 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $146.26, for a total value of $164,396.24. Following the completion of the transaction, the insider now owns 8,983 shares in the company, valued at approximately $1,313,853.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,429 shares of company stock worth $3,686,927. 7.40% of the stock is owned by corporate insiders.
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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