Barrett Asset Management LLC Has $34.82 Million Stake in Stryker Corporation (SYK)
Barrett Asset Management LLC lessened its holdings in shares of Stryker Corporation (NYSE:SYK) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 224,855 shares of the medical technology company’s stock after selling 9,652 shares during the period. Stryker makes up about 2.5% of Barrett Asset Management LLC’s portfolio, making the stock its 15th biggest holding. Barrett Asset Management LLC’s holdings in Stryker were worth $34,817,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the company. Oppenheimer & Co. Inc. lifted its holdings in shares of Stryker by 1.2% during the 4th quarter. Oppenheimer & Co. Inc. now owns 31,762 shares of the medical technology company’s stock valued at $4,918,000 after purchasing an additional 374 shares during the last quarter. Roffman Miller Associates Inc. PA lifted its holdings in shares of Stryker by 0.3% during the 4th quarter. Roffman Miller Associates Inc. PA now owns 132,910 shares of the medical technology company’s stock valued at $20,580,000 after purchasing an additional 380 shares during the last quarter. Bedel Financial Consulting Inc. purchased a new position in Stryker in the 4th quarter worth $297,000. California Public Employees Retirement System raised its stake in Stryker by 3.0% in the 4th quarter. California Public Employees Retirement System now owns 785,356 shares of the medical technology company’s stock worth $121,605,000 after acquiring an additional 22,801 shares during the last quarter. Finally, M&T Bank Corp raised its stake in Stryker by 3.8% in the 4th quarter. M&T Bank Corp now owns 231,365 shares of the medical technology company’s stock worth $35,823,000 after acquiring an additional 8,504 shares during the last quarter. Hedge funds and other institutional investors own 74.85% of the company’s stock.
In other news, Director Howard E. Cox, Jr. sold 7,400 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $164.09, for a total transaction of $1,214,266.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP William E. Berry, Jr. sold 1,306 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $164.42, for a total value of $214,732.52. The disclosure for this sale can be found here. Insiders have sold a total of 16,840 shares of company stock valued at $2,749,989 in the last quarter. Company insiders own 7.40% of the company’s stock.
Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $1.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.95 by $0.01. The business had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.42 billion. Stryker had a return on equity of 24.55% and a net margin of 8.20%. The company’s revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the business posted $1.78 EPS. equities research analysts expect that Stryker Corporation will post 7.12 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Thursday, March 29th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.24%. Stryker’s payout ratio is currently 70.15%.
SYK has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upgraded Stryker from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 2nd. Robert W. Baird upgraded Stryker from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $161.00 to $173.00 in a research note on Thursday, November 16th. BMO Capital Markets upgraded Stryker to a “market perform” rating and set a $163.00 target price for the company in a research note on Tuesday, December 12th. Zacks Investment Research lowered Stryker from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $163.00 target price on shares of Stryker in a research note on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Stryker currently has an average rating of “Hold” and an average price target of $162.50.
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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