United Services Automobile Association lowered its stake in shares of Stryker Corporation (NYSE:SYK) by 1.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 350,454 shares of the medical technology company’s stock after selling 6,360 shares during the period. United Services Automobile Association owned approximately 0.09% of Stryker Corporation worth $46,137,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Credit Agricole S A raised its position in shares of Stryker Corporation by 24.4% in the first quarter. Credit Agricole S A now owns 241,908 shares of the medical technology company’s stock valued at $31,847,000 after buying an additional 47,516 shares in the last quarter. Rafferty Asset Management LLC raised its stake in Stryker Corporation by 3.3% in the first quarter. Rafferty Asset Management LLC now owns 6,761 shares of the medical technology company’s stock worth $890,000 after buying an additional 216 shares in the last quarter. BB&T Securities LLC raised its stake in Stryker Corporation by 3.9% in the first quarter. BB&T Securities LLC now owns 8,371 shares of the medical technology company’s stock worth $1,102,000 after buying an additional 313 shares in the last quarter. Papp L Roy & Associates raised its stake in Stryker Corporation by 467.3% in the first quarter. Papp L Roy & Associates now owns 20,763 shares of the medical technology company’s stock worth $2,733,000 after buying an additional 17,103 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Stryker Corporation during the first quarter worth $263,000. Hedge funds and other institutional investors own 74.07% of the company’s stock.
Shares of Stryker Corporation (NYSE:SYK) opened at 145.14 on Thursday. The stock has a market cap of $54.29 billion, a PE ratio of 32.40 and a beta of 0.80. Stryker Corporation has a 52-week low of $106.48 and a 52-week high of $148.84. The stock’s 50 day moving average is $142.76 and its 200 day moving average is $134.44.
Stryker Corporation (NYSE:SYK) last announced its quarterly earnings data on Thursday, July 27th. The medical technology company reported $1.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.02. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.98 billion. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. Stryker Corporation’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $1.39 EPS. Equities research analysts forecast that Stryker Corporation will post $6.43 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Friday, June 30th were given a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 1.17%. The ex-dividend date was Wednesday, June 28th. Stryker Corporation’s payout ratio is currently 37.95%.
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A number of equities research analysts recently weighed in on the stock. BidaskClub lowered shares of Stryker Corporation from a “buy” rating to a “hold” rating in a report on Monday. Cowen and Company reaffirmed a “buy” rating and issued a $160.00 price objective (up from $150.00) on shares of Stryker Corporation in a research report on Sunday. Zacks Investment Research raised shares of Stryker Corporation from a “hold” rating to a “buy” rating and set a $166.00 price objective for the company in a research report on Tuesday. Oppenheimer Holdings, Inc. set a $135.00 price objective on shares of Stryker Corporation and gave the stock a “hold” rating in a research report on Saturday, April 8th. Finally, Stifel Nicolaus upped their price objective on shares of Stryker Corporation from $151.00 to $158.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. 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 company’s stock. Stryker Corporation has an average rating of “Hold” and an average price target of $144.03.
In other Stryker Corporation news, insider David Floyd sold 19,305 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 7.40% of the company’s stock.
Stryker Corporation Company Profile
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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