Stryker Co. (NYSE:SYK) Shares Acquired by Westpac Banking Corp
Westpac Banking Corp lifted its stake in shares of Stryker Co. (NYSE:SYK) by 7.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 88,511 shares of the medical technology company’s stock after acquiring an additional 6,246 shares during the period. Westpac Banking Corp’s holdings in Stryker were worth $18,196,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Farmers National Bank purchased a new position in Stryker during the first quarter worth about $25,000. Cable Hill Partners LLC purchased a new position in Stryker during the first quarter worth about $30,000. RPG Investment Advisory LLC lifted its position in Stryker by 160.0% during the first quarter. RPG Investment Advisory LLC now owns 156 shares of the medical technology company’s stock worth $31,000 after buying an additional 96 shares during the period. Horan Capital Advisors LLC. purchased a new position in Stryker during the first quarter worth about $40,000. Finally, Webster Bank N. A. lifted its position in Stryker by 300.0% during the second quarter. Webster Bank N. A. now owns 200 shares of the medical technology company’s stock worth $41,000 after buying an additional 150 shares during the period. 73.48% of the stock is currently owned by institutional investors and hedge funds.
In other Stryker news, insider Timothy J. Scannell sold 4,666 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $205.88, for a total transaction of $960,636.08. Following the completion of the sale, the insider now owns 155,963 shares in the company, valued at approximately $32,109,662.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Glenn S. Boehnlein sold 2,700 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $214.16, for a total value of $578,232.00. Following the sale, the chief financial officer now owns 20,633 shares of the company’s stock, valued at approximately $4,418,763.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,097 shares of company stock valued at $4,045,678. 7.20% of the stock is owned by insiders.
Stryker (NYSE:SYK) last announced its earnings results on Thursday, July 25th. The medical technology company reported $1.98 EPS for the quarter, beating the consensus estimate of $1.93 by $0.05. The business had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.60 billion. Stryker had a return on equity of 25.98% and a net margin of 24.99%. The company’s revenue was up 9.9% on a year-over-year basis. During the same period last year, the business posted $1.76 EPS. On average, equities analysts expect that Stryker Co. will post 8.2 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.08 dividend on an annualized basis and a yield of 0.95%. Stryker’s dividend payout ratio (DPR) is presently 28.45%.
Several equities analysts recently weighed in on the company. Piper Jaffray Companies increased their target price on Stryker from $205.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Deutsche Bank raised their price objective on Stryker from $181.00 to $208.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Zacks Investment Research upgraded Stryker from a “hold” rating to a “buy” rating and set a $225.00 price objective on the stock in a report on Monday, July 29th. BTIG Research restated a “buy” rating and issued a $228.00 price objective on shares of Stryker in a report on Monday, July 29th. Finally, Oppenheimer raised their price objective on Stryker from $183.00 to $192.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $214.89.
Stryker Company Profile
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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