Employers Holdings Inc. acquired a new position in Stryker Co. (NYSE:SYK) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,200 shares of the medical technology company’s stock, valued at approximately $1,686,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in Stryker by 0.6% in the 1st quarter. BlackRock Inc. now owns 25,036,303 shares of the medical technology company’s stock worth $4,945,168,000 after buying an additional 153,391 shares during the period. FMR LLC raised its position in shares of Stryker by 13.4% in the 1st quarter. FMR LLC now owns 6,728,182 shares of the medical technology company’s stock worth $1,328,951,000 after acquiring an additional 793,560 shares in the last quarter. Fundsmith LLP raised its position in shares of Stryker by 1.0% in the 1st quarter. Fundsmith LLP now owns 5,581,841 shares of the medical technology company’s stock worth $1,102,525,000 after acquiring an additional 52,688 shares in the last quarter. Northern Trust Corp raised its position in shares of Stryker by 1.2% in the 1st quarter. Northern Trust Corp now owns 3,903,582 shares of the medical technology company’s stock worth $771,036,000 after acquiring an additional 46,183 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Stryker by 6.5% in the 4th quarter. Geode Capital Management LLC now owns 3,665,205 shares of the medical technology company’s stock worth $573,387,000 after acquiring an additional 224,785 shares in the last quarter. Hedge funds and other institutional investors own 73.48% of the company’s stock.
Several research analysts have recently issued reports on SYK shares. Wells Fargo & Co increased their target price on Stryker from $219.00 to $228.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 2nd. Svb Leerink reaffirmed an “outperform” rating on shares of Stryker in a research report on Wednesday, July 10th. BMO Capital Markets set a $216.00 target price on Stryker and gave the stock a “hold” rating in a report on Friday, July 26th. Zacks Investment Research raised Stryker from a “hold” rating to a “buy” rating and set a $225.00 target price for the company in a report on Monday, July 29th. Finally, Credit Suisse Group lifted their target price on Stryker from $232.00 to $237.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Stryker currently has a consensus rating of “Buy” and a consensus price target of $214.89.
Shares of SYK stock traded up $1.66 on Friday, reaching $216.96. The stock had a trading volume of 3,644 shares, compared to its average volume of 1,092,561. The stock has a market cap of $81.97 billion, a P/E ratio of 29.66, a price-to-earnings-growth ratio of 2.66 and a beta of 0.85. Stryker Co. has a 1 year low of $144.75 and a 1 year high of $222.59. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 2.07. The company has a 50 day simple moving average of $210.48 and a 200 day simple moving average of $194.87.
Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, July 25th. The medical technology company reported $1.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.93 by $0.05. The firm had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.60 billion. Stryker had a return on equity of 25.98% and a net margin of 24.99%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period last year, the business posted $1.76 EPS. On average, equities research analysts anticipate that Stryker Co. will post 8.2 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a $0.52 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.96%. Stryker’s dividend payout ratio (DPR) is currently 28.45%.
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.
Further Reading: What are the risks of holding treasury bonds?
Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Co. (NYSE:SYK).
Receive News & Ratings for Stryker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stryker and related companies with MarketBeat.com's FREE daily email newsletter.