Signet Financial Management LLC trimmed its stake in Stryker Co. (NYSE:SYK) by 11.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,085 shares of the medical technology company’s stock after selling 3,344 shares during the quarter. Stryker makes up 1.2% of Signet Financial Management LLC’s holdings, making the stock its 18th biggest position. Signet Financial Management LLC’s holdings in Stryker were worth $5,808,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Stryker by 6.5% in the fourth quarter. Geode Capital Management LLC now owns 3,665,205 shares of the medical technology company’s stock worth $573,387,000 after purchasing an additional 224,785 shares during the period. Alps Advisors Inc. bought a new stake in shares of Stryker during the 1st quarter valued at about $417,000. Victory Capital Management Inc. boosted its position in shares of Stryker by 388.2% during the 1st quarter. Victory Capital Management Inc. now owns 22,352 shares of the medical technology company’s stock valued at $4,415,000 after acquiring an additional 17,774 shares during the last quarter. Bbva Compass Bancshares Inc. grew its holdings in shares of Stryker by 1.1% during the first quarter. Bbva Compass Bancshares Inc. now owns 11,663 shares of the medical technology company’s stock worth $2,304,000 after purchasing an additional 123 shares in the last quarter. Finally, Stephens Inc. AR grew its holdings in shares of Stryker by 9.4% during the first quarter. Stephens Inc. AR now owns 6,447 shares of the medical technology company’s stock worth $1,273,000 after purchasing an additional 552 shares in the last quarter. Hedge funds and other institutional investors own 73.01% of the company’s stock.
Shares of NYSE SYK traded up $3.86 during mid-day trading on Wednesday, hitting $217.55. The stock had a trading volume of 46,051 shares, compared to its average volume of 850,225. The business has a 50 day moving average price of $216.25 and a two-hundred day moving average price of $199.25. Stryker Co. has a 1 year low of $144.75 and a 1 year high of $223.45. 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 firm has a market cap of $81.25 billion, a P/E ratio of 29.76, a price-to-earnings-growth ratio of 2.64 and a beta of 0.83.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.08 annualized dividend and a dividend yield of 0.96%. Stryker’s payout ratio is presently 28.45%.
A number of equities research analysts recently weighed in on the stock. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Stryker in a research note on Wednesday, September 4th. Wells Fargo & Co upped their price objective on Stryker from $219.00 to $228.00 and gave the stock an “outperform” rating in a report on Tuesday, July 2nd. Morgan Stanley increased their price objective on Stryker from $218.00 to $230.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Royal Bank of Canada set a $220.00 price objective on Stryker and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Cantor Fitzgerald upped their target price on Stryker from $190.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $214.89.
In other Stryker news, COO Timothy J. Scannell sold 4,666 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $217.08, for a total transaction of $1,012,895.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Allan C. Golston sold 3,399 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $209.84, for a total value of $713,246.16. Following the completion of the sale, the director now owns 13,762 shares of the company’s stock, valued at approximately $2,887,818.08. The disclosure for this sale can be found here. Insiders sold 20,447 shares of company stock worth $4,262,634 over the last three months. 7.20% of the stock is owned by insiders.
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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