SlateStone Wealth LLC Invests $209,000 in Stryker Co. (SYK) Stock

SlateStone Wealth LLC Invests $209,000 in Stryker Co. (SYK) Stock

SlateStone Wealth LLC bought a new position in shares of Stryker Co. (NYSE:SYK) in the first quarter, Holdings Channel reports. The firm bought 1,058 shares of the medical technology company’s stock, valued at approximately $209,000.

A number of other institutional investors have also recently added to or reduced their stakes in SYK. Wakefield Asset Management LLLP acquired a new position in Stryker in the first quarter worth about $161,000. Toronto Dominion Bank raised its position in Stryker by 15.2% in the first quarter. Toronto Dominion Bank now owns 221,774 shares of the medical technology company’s stock worth $43,793,000 after purchasing an additional 29,332 shares in the last quarter. Hall Capital Management Co. Inc. raised its position in Stryker by 13.6% in the first quarter. Hall Capital Management Co. Inc. now owns 1,675 shares of the medical technology company’s stock worth $331,000 after purchasing an additional 200 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its position in Stryker by 1.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 57,920 shares of the medical technology company’s stock worth $11,440,000 after purchasing an additional 800 shares in the last quarter. Finally, State Treasurer State of Michigan raised its position in Stryker by 61.6% in the first quarter. State Treasurer State of Michigan now owns 421,596 shares of the medical technology company’s stock worth $83,274,000 after purchasing an additional 160,700 shares in the last quarter. 74.71% of the stock is owned by hedge funds and other institutional investors.

In other news, VP Yin C. Becker sold 15,240 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $198.03, for a total transaction of $3,017,977.20. Following the sale, the vice president now directly owns 16,577 shares of the company’s stock, valued at $3,282,743.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Timothy J. Scannell sold 4,666 shares of the stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $186.25, for a total transaction of $869,042.50. The disclosure for this sale can be found here. Insiders have sold 111,550 shares of company stock worth $21,374,171 over the last three months. 7.20% of the stock is owned by insiders.

Several research firms recently issued reports on SYK. Canaccord Genuity increased their price target on shares of Stryker from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, January 30th. Zacks Investment Research raised shares of Stryker from a “hold” rating to a “buy” rating and set a $199.00 price target for the company in a research report on Monday, February 4th. Deutsche Bank increased their price target on shares of Stryker from $181.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. ValuEngine raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Finally, Royal Bank of Canada increased their price target on shares of Stryker from $184.00 to $204.00 and gave the stock an “outperform” rating in a research report on Monday, March 11th. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $196.89.

Shares of Stryker stock opened at $184.18 on Thursday. The company has a current ratio of 2.12, a quick ratio of 1.30 and a debt-to-equity ratio of 0.68. The stock has a market cap of $68.73 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 2.24 and a beta of 0.84. Stryker Co. has a 1-year low of $144.75 and a 1-year high of $199.85.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, April 23rd. The medical technology company reported $1.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.84 by $0.04. Stryker had a net margin of 25.38% and a return on equity of 26.72%. The business had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.51 billion. During the same period in the prior year, the firm earned $1.68 earnings per share. Stryker’s revenue was up 8.5% compared to the same quarter last year. As a group, equities analysts anticipate that Stryker Co. will post 8.15 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be paid a dividend of $0.52 per share. The ex-dividend date is Thursday, June 27th. This represents a $2.08 annualized dividend and a dividend yield of 1.13%. Stryker’s dividend payout ratio (DPR) is currently 28.45%.

Stryker 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.

Read More: Intrinsic Value and Stock Selection

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