Westpac Banking Corp cut its stake in shares of Stryker Co. (NYSE:SYK) by 60.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,265 shares of the medical technology company’s stock after selling 123,688 shares during the quarter. Westpac Banking Corp’s holdings in Stryker were worth $16,249,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of SYK. ERTS Wealth Advisors LLC bought a new position in Stryker in the 4th quarter worth approximately $25,000. Farmers National Bank bought a new position in Stryker in the 1st quarter worth approximately $25,000. Semmax Financial Advisors Inc. bought a new position in Stryker in the 4th quarter worth approximately $28,000. Truehand Inc bought a new position in Stryker in the 4th quarter worth approximately $30,000. Finally, Cable Hill Partners LLC bought a new position in Stryker in the 1st quarter worth approximately $30,000. 73.61% of the stock is owned by institutional investors.
In other news, VP Bijoy Sagar sold 2,000 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $190.43, for a total value of $380,860.00. Following the completion of the sale, the vice president now owns 3,350 shares in the company, valued at $637,940.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Timothy J. Scannell sold 4,666 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $186.71, for a total value of $871,188.86. The disclosure for this sale can be found here. Insiders have sold a total of 82,303 shares of company stock valued at $15,947,489 in the last quarter. Insiders own 7.20% of the company’s stock.
Stryker (NYSE:SYK) last released its earnings results on Tuesday, April 23rd. The medical technology company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.04. The firm had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.51 billion. Stryker had a return on equity of 26.72% and a net margin of 25.38%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.68 earnings per share. Equities analysts expect that Stryker Co. will post 8.15 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.06%. Stryker’s dividend payout ratio (DPR) is presently 28.45%.
A number of equities analysts recently issued reports on the company. Deutsche Bank increased their price objective on Stryker from $181.00 to $208.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Zacks Investment Research lowered Stryker from a “buy” rating to a “hold” rating in a report on Tuesday, May 21st. ValuEngine raised Stryker from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Royal Bank of Canada increased their price objective on Stryker from $184.00 to $204.00 and gave the stock an “outperform” rating in a report on Monday, March 11th. Finally, Oppenheimer increased their price objective on Stryker from $183.00 to $192.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Stryker presently has a consensus rating of “Buy” and an average target price of $196.75.
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Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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