BB&T Corp Increases Stake in Stryker Corporation (SYK)

BB&T Corp Increases Stake in Stryker Corporation (SYK)

BB&T Corp boosted its position in Stryker Corporation (NYSE:SYK) by 32.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,519 shares of the medical technology company’s stock after buying an additional 13,010 shares during the period. BB&T Corp’s holdings in Stryker Corporation were worth $6,114,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Quantitative Investment Management LLC increased its stake in Stryker Corporation by 207.1% in the third quarter. Quantitative Investment Management LLC now owns 121,900 shares of the medical technology company’s stock worth $14,190,000 after buying an additional 82,200 shares in the last quarter. Cedar Wealth Management LLC increased its stake in Stryker Corporation by 3.6% in the third quarter. Cedar Wealth Management LLC now owns 2,303 shares of the medical technology company’s stock worth $268,000 after buying an additional 80 shares in the last quarter. NEXT Financial Group Inc increased its stake in Stryker Corporation by 234.6% in the third quarter. NEXT Financial Group Inc now owns 8,817 shares of the medical technology company’s stock worth $1,026,000 after buying an additional 6,182 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in Stryker Corporation by 18.7% in the third quarter. Stratos Wealth Partners LTD. now owns 3,368 shares of the medical technology company’s stock worth $392,000 after buying an additional 530 shares in the last quarter. Finally, Wade G W & Inc. increased its stake in Stryker Corporation by 1.0% in the third quarter. Wade G W & Inc. now owns 2,230 shares of the medical technology company’s stock worth $260,000 after buying an additional 22 shares in the last quarter. 75.82% of the stock is currently owned by institutional investors.

Stryker Corporation (NYSE:SYK) opened at 123.29 on Friday. The firm has a market cap of $46.17 billion, a PE ratio of 28.34 and a beta of 0.84. The company’s 50 day moving average price is $120.30 and its 200 day moving average price is $116.26. Stryker Corporation has a 52-week low of $94.31 and a 52-week high of $127.23.

Stryker Corporation (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 24th. The medical technology company reported $1.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.76 by $0.02. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. Stryker Corporation had a net margin of 14.54% and a return on equity of 23.86%. The firm’s revenue was up 16.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.56 EPS. Analysts predict that Stryker Corporation will post $6.41 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, December 30th will be paid a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Wednesday, December 28th. This is an increase from Stryker Corporation’s previous quarterly dividend of $0.38. Stryker Corporation’s dividend payout ratio (DPR) is currently 39.08%.

A number of research firms have recently commented on SYK. Wells Fargo & Company reissued an “outperform” rating and issued a $134.50 price objective on shares of Stryker Corporation in a research note on Saturday. Oppenheimer Holdings, Inc. set a $122.00 target price on Stryker Corporation and gave the stock a “hold” rating in a report on Wednesday. Guggenheim set a $137.00 target price on Stryker Corporation and gave the stock a “buy” rating in a report on Wednesday. Jefferies Group LLC lifted their target price on Stryker Corporation from $120.00 to $132.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Barclays PLC lifted their target price on Stryker Corporation from $120.00 to $122.00 and gave the stock an “underweight” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $125.20.

In other Stryker Corporation news, Director Ronda E. Stryker sold 18,000 shares of the stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $109.53, for a total transaction of $1,971,540.00. Following the transaction, the director now directly owns 193,142 shares in the company, valued at approximately $21,154,843.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Yin C. Becker sold 11,660 shares of the stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $120.22, for a total transaction of $1,401,765.20. Following the transaction, the vice president now owns 28,599 shares in the company, valued at $3,438,171.78. The disclosure for this sale can be found here. Insiders sold a total of 295,160 shares of company stock worth $34,016,758 in the last ninety days. 7.80% of the stock is currently owned by insiders.

Stryker Corporation 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.

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