Verus Capital Partners LLC Sells 93 Shares of Stryker Co. (NYSE:SYK)
Verus Capital Partners LLC reduced its position in shares of Stryker Co. (NYSE:SYK) by 12.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 652 shares of the medical technology company’s stock after selling 93 shares during the quarter. Verus Capital Partners LLC’s holdings in Stryker were worth $109,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. State Street Corp increased its stake in Stryker by 1.0% during the 1st quarter. State Street Corp now owns 13,812,677 shares of the medical technology company’s stock valued at $2,307,526,000 after purchasing an additional 136,388 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Stryker by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 7,006,593 shares of the medical technology company’s stock valued at $1,166,528,000 after acquiring an additional 28,171 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Stryker by 20.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 6,216,034 shares of the medical technology company’s stock valued at $1,034,908,000 after acquiring an additional 1,069,721 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Stryker by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 4,579,828 shares of the medical technology company’s stock valued at $959,331,000 after acquiring an additional 185,637 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Stryker during the 4th quarter valued at about $604,447,000. Institutional investors and hedge funds own 71.27% of the company’s stock.
In related news, Director Allan C. Golston sold 7,299 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $193.23, for a total value of $1,410,385.77. Following the sale, the director now owns 13,972 shares in the company, valued at $2,699,809.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Glenn S. Boehnlein sold 10,351 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $185.24, for a total transaction of $1,917,419.24. Following the completion of the sale, the chief financial officer now owns 16,321 shares in the company, valued at approximately $3,023,302.04. The disclosure for this sale can be found here. Insiders sold 30,670 shares of company stock worth $5,775,251 in the last 90 days. 6.80% of the stock is currently owned by company insiders.
Shares of Stryker stock traded down $1.58 on Friday, hitting $174.03. 225,508 shares of the company traded hands, compared to its average volume of 1,485,198. The stock has a market capitalization of $66.08 billion, a P/E ratio of 30.86, a price-to-earnings-growth ratio of 3.08 and a beta of 0.85. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.77 and a current ratio of 2.58. Stryker Co. has a 52 week low of $124.54 and a 52 week high of $226.30. The business has a 50-day simple moving average of $190.67 and a 200 day simple moving average of $193.09.
Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, April 30th. The medical technology company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.15. The firm had revenue of $3.59 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the business posted $1.88 earnings per share. Research analysts expect that Stryker Co. will post 6.22 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a $0.575 dividend. This represents a $2.30 annualized dividend and a yield of 1.32%. The ex-dividend date is Monday, June 29th. Stryker’s dividend payout ratio is presently 27.85%.
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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