Nomura Asset Management Co. Ltd. trimmed its position in Stryker Co. (NYSE:SYK) by 10.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 349,270 shares of the medical technology company’s stock after selling 38,823 shares during the period. Nomura Asset Management Co. Ltd. owned 0.09% of Stryker worth $62,058,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Atlantic Trust LLC bought a new position in shares of Stryker in the second quarter worth about $105,000. Centaurus Financial Inc. bought a new position in shares of Stryker in the second quarter worth about $110,000. NuWave Investment Management LLC raised its stake in shares of Stryker by 3,245.0% in the third quarter. NuWave Investment Management LLC now owns 669 shares of the medical technology company’s stock worth $119,000 after buying an additional 649 shares during the period. Kaizen Advisory LLC raised its stake in shares of Stryker by 142.6% in the second quarter. Kaizen Advisory LLC now owns 752 shares of the medical technology company’s stock worth $127,000 after buying an additional 442 shares during the period. Finally, NumerixS Investment Technologies Inc bought a new stake in Stryker during the 2nd quarter valued at approximately $135,000. 74.72% of the stock is currently owned by institutional investors.
Shares of Stryker stock traded down $1.64 during mid-day trading on Wednesday, reaching $172.25. 1,681,267 shares of the stock traded hands, compared to its average volume of 1,233,348. Stryker Co. has a fifty-two week low of $146.80 and a fifty-two week high of $179.84. The stock has a market capitalization of $65.65 billion, a P/E ratio of 26.54, a PEG ratio of 2.38 and a beta of 0.66. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.91 and a quick ratio of 1.21.
Stryker (NYSE:SYK) last announced its earnings results on Thursday, October 25th. The medical technology company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.01. Stryker had a return on equity of 28.00% and a net margin of 9.31%. The business had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.26 billion. As a group, research analysts anticipate that Stryker Co. will post 7.28 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Monday, December 31st will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.21%. This is a boost from Stryker’s previous quarterly dividend of $0.47. Stryker’s dividend payout ratio is presently 28.97%.
SYK has been the topic of several recent analyst reports. Zacks Investment Research raised Stryker from a “hold” rating to a “buy” rating and set a $186.00 target price on the stock in a research note on Tuesday, August 7th. BTIG Research started coverage on Stryker in a report on Thursday, August 16th. They set a “buy” rating and a $187.00 price target for the company. Needham & Company LLC reiterated a “hold” rating on shares of Stryker in a report on Tuesday, September 11th. JPMorgan Chase & Co. lifted their target price on Stryker to $200.00 and gave the stock an “overweight” rating in a report on Thursday, September 13th. Finally, Barclays initiated coverage on Stryker in a research note on Monday, October 15th. They set an “overweight” rating and a $198.00 price target for the company. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $182.45.
In other news, VP M Kathryn Fink sold 415 shares of the company’s stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $166.56, for a total value of $69,122.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Glenn S. Boehnlein sold 750 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $178.17, for a total value of $133,627.50. Following the completion of the sale, the chief financial officer now owns 2,785 shares of the company’s stock, valued at $496,203.45. The disclosure for this sale can be found here. 7.30% of the stock is owned by corporate 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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