Deroy & Devereaux Private Investment Counsel Inc. held its stake in shares of Stryker Corporation (NYSE:SYK) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,967 shares of the medical technology company’s stock at the end of the third quarter. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Stryker Corporation were worth $1,859,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of SYK. Blue Chip Partners Inc. raised its stake in shares of Stryker Corporation by 0.3% in the second quarter. Blue Chip Partners Inc. now owns 1,757 shares of the medical technology company’s stock worth $211,000 after buying an additional 6 shares during the period. Wetherby Asset Management Inc. raised its position in Stryker Corporation by 0.3% in the second quarter. Wetherby Asset Management Inc. now owns 6,242 shares of the medical technology company’s stock valued at $748,000 after buying an additional 18 shares during the last quarter. Wade G W & Inc. raised its position 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 valued at $260,000 after buying an additional 22 shares during the last quarter. Private Bank & Trust Co. raised its position in Stryker Corporation by 0.5% in the third quarter. Private Bank & Trust Co. now owns 4,222 shares of the medical technology company’s stock valued at $492,000 after buying an additional 23 shares during the last quarter. Finally, Washington Trust Bank raised its position in Stryker Corporation by 1.2% in the third quarter. Washington Trust Bank now owns 3,076 shares of the medical technology company’s stock valued at $358,000 after buying an additional 36 shares during the last quarter. 75.82% of the stock is owned by institutional investors and hedge funds.
Stryker Corporation (NYSE:SYK) opened at 123.29 on Friday. The stock has a market capitalization of $46.17 billion, a price-to-earnings ratio of 28.34 and a beta of 0.84. The company has a 50-day moving average price of $120.30 and a 200 day moving average price of $116.26. Stryker Corporation has a 12 month low of $94.31 and a 12 month high of $127.23.
Stryker Corporation (NYSE:SYK) last announced 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 business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. Stryker Corporation had a return on equity of 23.86% and a net margin of 14.54%. The company’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.56 EPS. Equities analysts predict that Stryker Corporation will post $6.41 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Friday, December 30th will be paid a dividend of $0.425 per share. This is a positive change from Stryker Corporation’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $1.70 annualized dividend and a dividend yield of 1.38%. Stryker Corporation’s payout ratio is 39.08%.
SYK has been the subject of several recent research reports. Zacks Investment Research raised Stryker Corporation from a “hold” rating to a “buy” rating and set a $119.00 price target for the company in a research report on Tuesday, November 15th. Canaccord Genuity set a $127.00 price target on Stryker Corporation and gave the stock a “buy” rating in a research report on Sunday, October 30th. SunTrust Banks, Inc. began coverage on Stryker Corporation in a research report on Thursday, October 13th. They set a “buy” rating and a $140.00 target price on the stock. RBC Capital Markets reaffirmed a “buy” rating and set a $129.00 target price on shares of Stryker Corporation in a research report on Friday, January 6th. Finally, Guggenheim set a $137.00 target price on Stryker Corporation and gave the company a “buy” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company. Stryker Corporation presently has an average rating of “Buy” and a consensus price target of $125.20.
In other Stryker Corporation news, Chairman Kevin Lobo sold 26,306 shares of the business’s stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $115.74, for a total value of $3,044,656.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronda E. Stryker sold 12,000 shares of the business’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $114.38, for a total value of $1,372,560.00. Following the completion of the transaction, the director now owns 193,142 shares of the company’s stock, valued at $22,091,581.96. The disclosure for this sale can be found here. Insiders have sold a total of 295,160 shares of company stock worth $34,016,758 in the last three months. Corporate insiders own 7.80% of the company’s stock.
About Stryker Corporation
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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