Stryker Co. (NYSE:SYK) Shares Purchased by AdvisorShares Investments LLC
AdvisorShares Investments LLC increased its stake in shares of Stryker Co. (NYSE:SYK) by 4.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,087 shares of the medical technology company’s stock after purchasing an additional 178 shares during the period. AdvisorShares Investments LLC’s holdings in Stryker were worth $680,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. ERTS Wealth Advisors LLC acquired a new position in Stryker in the 4th quarter valued at $25,000. Sofos Investments Inc. raised its holdings in Stryker by 160.0% in the 1st quarter. Sofos Investments Inc. now owns 728 shares of the medical technology company’s stock valued at $26,000 after acquiring an additional 448 shares during the last quarter. WASHINGTON TRUST Co acquired a new position in Stryker in the 1st quarter valued at $28,000. Princeton Global Asset Management LLC acquired a new position in Stryker in the 4th quarter valued at $29,000. Finally, Filbrandt Wealth Management LLC acquired a new position in Stryker in the 1st quarter valued at $30,000. Hedge funds and other institutional investors own 71.27% of the company’s stock.
In other news, Director Srikant M. Datar sold 200 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $194.32, for a total value of $38,864.00. Following the sale, the director now owns 17,686 shares in the company, valued at approximately $3,436,743.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Katherine Ann Owen sold 9,149 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $186.79, for a total transaction of $1,708,941.71. Following the sale, the vice president now owns 1,085 shares in the company, valued at approximately $202,667.15. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,020 shares of company stock worth $2,447,446. Company insiders own 6.80% of the company’s stock.
Stryker (NYSE:SYK) last issued its earnings results on Thursday, April 30th. The medical technology company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.15. The business had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.45 billion. Stryker had a net margin of 14.47% and a return on equity of 24.90%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.88 EPS. On average, equities analysts predict that Stryker Co. will post 6.21 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a $0.575 dividend. The ex-dividend date is Monday, June 29th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.16%. Stryker’s dividend payout ratio (DPR) is presently 27.85%.
Several research analysts have weighed in on SYK shares. Oppenheimer reiterated a “hold” rating and issued a $200.00 price target on shares of Stryker in a report on Friday, May 1st. UBS Group lowered their price objective on shares of Stryker from $230.00 to $202.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. Credit Suisse Group boosted their price objective on shares of Stryker from $229.00 to $237.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Stifel Nicolaus boosted their price objective on shares of Stryker from $145.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Finally, Raymond James lowered their price objective on shares of Stryker from $240.00 to $205.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Stryker currently has a consensus rating of “Buy” and a consensus target price of $214.23.
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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