United Services Automobile Association decreased its stake in Stryker Corporation (NYSE:SYK) by 1.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 350,454 shares of the medical technology company’s stock after selling 6,360 shares during the period. United Services Automobile Association owned about 0.09% of Stryker Corporation worth $46,137,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Bollard Group LLC boosted its stake in shares of Stryker Corporation by 0.4% in the first quarter. Bollard Group LLC now owns 829 shares of the medical technology company’s stock valued at $109,000 after buying an additional 3 shares during the period. Assetmark Inc. boosted its stake in shares of Stryker Corporation by 0.3% in the first quarter. Assetmark Inc. now owns 1,274 shares of the medical technology company’s stock valued at $168,000 after buying an additional 4 shares during the period. Blue Chip Partners Inc. boosted its stake in shares of Stryker Corporation by 0.3% in the first quarter. Blue Chip Partners Inc. now owns 1,775 shares of the medical technology company’s stock valued at $234,000 after buying an additional 6 shares during the period. Baystate Wealth Management LLC boosted its stake in shares of Stryker Corporation by 2.1% in the first quarter. Baystate Wealth Management LLC now owns 1,066 shares of the medical technology company’s stock valued at $139,000 after buying an additional 22 shares during the period. Finally, BKD Wealth Advisors LLC boosted its stake in shares of Stryker Corporation by 1.1% in the first quarter. BKD Wealth Advisors LLC now owns 3,356 shares of the medical technology company’s stock valued at $442,000 after buying an additional 35 shares during the period. 73.99% of the stock is owned by institutional investors and hedge funds.
Stryker Corporation (NYSE SYK) traded down 0.87% during midday trading on Thursday, hitting $143.91. 768,147 shares of the stock were exchanged. The stock has a market cap of $53.83 billion, a PE ratio of 32.12 and a beta of 0.80. The company’s 50 day moving average is $143.54 and its 200-day moving average is $135.29. Stryker Corporation has a 1-year low of $106.48 and a 1-year high of $148.84.
Stryker Corporation (NYSE:SYK) last issued its earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. The firm had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter last year, the business earned $1.39 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. On average, analysts expect that Stryker Corporation will post $6.50 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, September 28th. Stryker Corporation’s dividend payout ratio is 37.95%.
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SYK has been the subject of several analyst reports. Morgan Stanley lifted their price objective on shares of Stryker Corporation from $145.00 to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 21st. Needham & Company LLC reiterated a “sell” rating on shares of Stryker Corporation in a research note on Wednesday, April 26th. Jefferies Group LLC restated a “hold” rating and issued a $132.00 target price on shares of Stryker Corporation in a research report on Thursday, April 13th. Cantor Fitzgerald began coverage on shares of Stryker Corporation in a research report on Thursday, June 29th. They issued a “neutral” rating and a $153.00 target price for the company. Finally, BidaskClub cut shares of Stryker Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $144.03.
In related news, insider Graham A. Mclean sold 1,124 shares of Stryker Corporation stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $146.26, for a total value of $164,396.24. Following the sale, the insider now owns 8,983 shares in the company, valued at $1,313,853.58. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David Floyd sold 19,305 shares of Stryker Corporation stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $144.56, for a total transaction of $2,790,730.80. The disclosure for this sale can be found here. Insiders sold 32,810 shares of company stock worth $4,754,958 in the last 90 days. Company insiders own 7.40% of the company’s stock.
About Stryker Corporation
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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