Lathrop Investment Management Corp Has $3.06 Million Holdings in Stryker Co. (NYSE:SYK)
Lathrop Investment Management Corp lifted its holdings in Stryker Co. (NYSE:SYK) by 153.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,970 shares of the medical technology company’s stock after acquiring an additional 10,285 shares during the period. Lathrop Investment Management Corp’s holdings in Stryker were worth $3,058,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Sofos Investments Inc. grew its stake in shares of Stryker by 160.0% in the first 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 in the last quarter. Evolution Wealth Advisors LLC grew its stake in Stryker by 64.4% during the second quarter. Evolution Wealth Advisors LLC now owns 143 shares of the medical technology company’s stock worth $26,000 after buying an additional 56 shares in the last quarter. WASHINGTON TRUST Co acquired a new stake in Stryker during the first quarter worth about $28,000. Filbrandt Wealth Management LLC acquired a new stake in Stryker during the first quarter worth about $30,000. Finally, Ballast Advisors LLC acquired a new stake in Stryker during the first quarter worth about $31,000. Institutional investors and hedge funds own 71.24% of the company’s stock.
SYK has been the topic of a number of analyst reports. Cowen reduced their price objective on shares of Stryker from $240.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 22nd. Stifel Nicolaus increased their target price on shares of Stryker from $145.00 to $205.00 and gave the stock a “buy” rating in a report on Friday, May 1st. UBS Group increased their target price on shares of Stryker from $202.00 to $215.00 and gave the stock a “neutral” rating in a report on Friday. Argus dropped their target price on shares of Stryker from $240.00 to $230.00 and set a “buy” rating for the company in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Stryker from $240.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, April 15th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $216.25.
Stryker (NYSE:SYK) last posted its earnings results on Thursday, July 30th. The medical technology company reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.01. The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.63 billion. Stryker had a return on equity of 20.53% and a net margin of 11.38%. As a group, analysts forecast that Stryker Co. will post 6.25 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Tuesday, September 29th. Stryker’s payout ratio is 27.85%.
In other Stryker news, VP Katherine Ann Owen sold 9,149 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $186.79, for a total value of $1,708,941.71. Following the completion of the sale, the vice president now owns 1,085 shares of the company’s stock, valued at $202,667.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Glenn S. Boehnlein sold 10,351 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $185.24, for a total value of $1,917,419.24. Following the completion of the sale, the chief financial officer now directly owns 16,321 shares of the company’s stock, valued at approximately $3,023,302.04. The disclosure for this sale can be found here. Insiders have sold 30,670 shares of company stock valued at $5,775,251 in the last three months. 6.80% of the stock is owned by insiders.
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.
Read More: Hedge Funds – Risk or Reward?
Receive News & Ratings for Stryker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stryker and related companies with MarketBeat.com's FREE daily email newsletter.