Reynders McVeigh Capital Management LLC lessened its stake in shares of Stryker Co. (NYSE:SYK) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 137,321 shares of the medical technology company’s stock after selling 1,488 shares during the quarter. Stryker accounts for 3.0% of Reynders McVeigh Capital Management LLC’s investment portfolio, making the stock its 7th biggest position. Reynders McVeigh Capital Management LLC’s holdings in Stryker were worth $28,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of SYK. Farmers National Bank acquired a new position in shares of Stryker during the first quarter worth about $25,000. Massey Quick Simon & CO. LLC acquired a new position in shares of Stryker during the second quarter worth about $27,000. Cable Hill Partners LLC acquired a new position in shares of Stryker during the first quarter worth about $30,000. Webster Bank N. A. increased its position in shares of Stryker by 300.0% during the second quarter. Webster Bank N. A. now owns 200 shares of the medical technology company’s stock worth $41,000 after acquiring an additional 150 shares during the last quarter. Finally, Westside Investment Management Inc. purchased a new stake in shares of Stryker during the second quarter worth about $47,000. Institutional investors own 74.14% of the company’s stock.
A number of analysts have recently issued reports on the company. Wells Fargo & Co lifted 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. ValuEngine raised Stryker from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Canaccord Genuity lifted their target price on Stryker from $195.00 to $233.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Cantor Fitzgerald lifted their target price on Stryker from $190.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Finally, Morgan Stanley lifted their target price on Stryker from $218.00 to $230.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $214.89.
Stryker stock traded down $4.17 during midday trading on Friday, hitting $214.10. The stock had a trading volume of 739,692 shares, compared to its average volume of 1,089,592. The company has a current ratio of 2.07, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The stock has a market cap of $81.94 billion, a P/E ratio of 29.29, a P/E/G ratio of 2.66 and a beta of 0.85. Stryker Co. has a 12 month low of $144.75 and a 12 month high of $222.59. The business has a fifty day moving average price of $212.38 and a 200 day moving average price of $196.13.
Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, July 25th. The medical technology company reported $1.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $0.05. The firm had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.60 billion. Stryker had a return on equity of 25.98% and a net margin of 24.99%. Stryker’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.76 earnings per share. On average, equities analysts anticipate that Stryker Co. will post 8.21 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Friday, September 27th. Stryker’s dividend payout ratio is currently 28.45%.
Stryker Company Profile
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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