State of Wisconsin Investment Board raised its position in Stryker Corp. (NYSE:SYK) by 19.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 258,149 shares of the medical technology company’s stock after buying an additional 41,400 shares during the period. State of Wisconsin Investment Board owned about 0.07% of Stryker Corp. worth $30,051,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. LSV Asset Management acquired a new position in Stryker Corp. during the second quarter worth $107,000. Daiwa SB Investments Ltd. acquired a new position in Stryker Corp. during the third quarter worth $163,000. Carroll Financial Associates Inc. raised its position in Stryker Corp. by 36.8% in the third quarter. Carroll Financial Associates Inc. now owns 1,486 shares of the medical technology company’s stock worth $172,000 after buying an additional 400 shares during the last quarter. Hefty Wealth Partners acquired a new position in Stryker Corp. during the third quarter worth $193,000. Finally, SevenBridge Financial Group LLC acquired a new position in Stryker Corp. during the second quarter worth $197,000. Hedge funds and other institutional investors own 74.83% of the company’s stock.
Stryker Corp. (NYSE:SYK) opened at 122.40 on Thursday. The firm has a market cap of $45.83 billion, a PE ratio of 27.86 and a beta of 0.84. Stryker Corp. has a one year low of $90.30 and a one year high of $127.23. The stock has a 50 day moving average of $118.46 and a 200 day moving average of $116.18.
Stryker Corp. (NYSE:SYK) last released its earnings results on Thursday, October 27th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.02. Stryker Corp. had a net margin of 15.24% and a return on equity of 23.61%. The business had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.81 billion. During the same period last year, the company earned $1.25 earnings per share. The company’s quarterly revenue was up 17.1% on a year-over-year basis. On average, equities analysts forecast that Stryker Corp. will post $5.78 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Friday, December 30th will be given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 1.39%. This is a boost from Stryker Corp.’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Wednesday, December 28th. Stryker Corp.’s payout ratio is 38.72%.
Several equities analysts have weighed in on the stock. Canaccord Genuity set a $127.00 target price on shares of Stryker Corp. and gave the company a “buy” rating in a report on Sunday, October 30th. Oppenheimer Holdings Inc. set a $122.00 target price on shares of Stryker Corp. and gave the company a “hold” rating in a report on Sunday, October 30th. Zacks Investment Research lowered shares of Stryker Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, December 6th. SunTrust Banks Inc. assumed coverage on shares of Stryker Corp. in a report on Thursday, October 13th. They issued a “buy” rating and a $140.00 target price on the stock. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Stryker Corp. in a report on Sunday, November 13th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Stryker Corp. currently has a consensus rating of “Hold” and a consensus price target of $122.95.
In other Stryker Corp. news, VP Yin C. Becker sold 11,660 shares of Stryker Corp. stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $120.22, for a total transaction of $1,401,765.20. Following the transaction, the vice president now directly owns 28,599 shares of the company’s stock, valued at $3,438,171.78. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Ronda E. Stryker sold 12,000 shares of Stryker Corp. stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $114.14, for a total transaction of $1,369,680.00. Following the transaction, the director now directly owns 193,142 shares in the company, valued at $22,045,227.88. The disclosure for this sale can be found here. Company insiders own 7.80% of the company’s stock.
Stryker Corp. Company Profile
Stryker Corporation (Stryker) is a medical technology company. The Company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Company’s Orthopaedics segment products consist of implants used in hip and knee joint replacements and trauma and surgeries. The Company’s MedSurg segment products consist of surgical equipment and surgical navigation systems (Instruments); endoscopic and communications systems (Endoscopy); patient handling and emergency medical equipment (Medical), and reprocessed and remanufactured medical devices (Sustainability), as well as other medical device products used in a range of medical specialties.
Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Corp. (NYSE:SYK).