Stryker Corporation (SYK) Stake Lowered by First National Trust Co
First National Trust Co lessened its stake in Stryker Corporation (NYSE:SYK) by 10.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,503 shares of the medical technology company’s stock after selling 994 shares during the quarter. First National Trust Co’s holdings in Stryker were worth $1,317,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Beach Investment Management LLC. acquired a new stake in Stryker during the 2nd quarter valued at $1,924,000. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Stryker by 1.6% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 27,751 shares of the medical technology company’s stock valued at $3,851,000 after purchasing an additional 450 shares during the last quarter. Winch Advisory Services LLC lifted its holdings in Stryker by 4.4% during the 2nd quarter. Winch Advisory Services LLC now owns 7,732 shares of the medical technology company’s stock valued at $1,073,000 after purchasing an additional 329 shares during the last quarter. Mastrapasqua Asset Management Inc. acquired a new stake in Stryker during the 2nd quarter valued at $208,000. Finally, GVO Asset Management Ltd lifted its holdings in Stryker by 121.2% during the 2nd quarter. GVO Asset Management Ltd now owns 254,715 shares of the medical technology company’s stock valued at $35,349,000 after purchasing an additional 139,545 shares during the last quarter. 74.88% of the stock is owned by institutional investors.
Shares of Stryker Corporation (SYK) opened at $160.28 on Friday. Stryker Corporation has a twelve month low of $119.17 and a twelve month high of $164.20. The company has a current ratio of 2.37, a quick ratio of 1.61 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $59,980.00, a price-to-earnings ratio of 34.17, a PEG ratio of 2.28 and a beta of 0.78.
Stryker (NYSE:SYK) last posted its earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.50 by $0.02. Stryker had a return on equity of 24.11% and a net margin of 14.67%. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter last year, the firm earned $1.39 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. research analysts forecast that Stryker Corporation will post 6.49 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be issued a dividend of $0.47 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.17%. This is an increase from Stryker’s previous quarterly dividend of $0.43. Stryker’s dividend payout ratio (DPR) is currently 40.09%.
In other news, insider Lonny J. Carpenter sold 5,000 shares of Stryker stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $155.34, for a total transaction of $776,700.00. Following the completion of the sale, the insider now owns 83,207 shares of the company’s stock, valued at $12,925,375.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 7.40% of the stock is currently owned by company insiders.
SYK has been the subject of several research reports. JPMorgan Chase & Co. raised Stryker from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 2nd. Robert W. Baird raised Stryker from a “neutral” rating to an “outperform” rating and raised their price target for the company from $161.00 to $173.00 in a report on Thursday, November 16th. BMO Capital Markets raised Stryker to a “market perform” rating and set a $163.00 price target for the company in a report on Tuesday, December 12th. Zacks Investment Research downgraded Stryker from a “hold” rating to a “sell” rating in a report on Monday, October 16th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $161.00 price target on shares of Stryker in a report on Friday, November 17th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $156.60.
Stryker 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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