BB&T Corp raised its stake in shares of Stryker Corporation (NYSE:SYK) by 5.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,546 shares of the medical technology company’s stock after buying an additional 3,060 shares during the period. BB&T Corp’s holdings in Stryker Corporation were worth $7,847,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in SYK. Personal Capital Advisors Corp purchased a new position in shares of Stryker Corporation during the first quarter worth $267,000. JPMorgan Chase & Co. raised its position in shares of Stryker Corporation by 276.9% in the first quarter. JPMorgan Chase & Co. now owns 269,555 shares of the medical technology company’s stock worth $35,487,000 after buying an additional 198,035 shares during the period. British Columbia Investment Management Corp raised its position in shares of Stryker Corporation by 10.7% in the first quarter. British Columbia Investment Management Corp now owns 133,596 shares of the medical technology company’s stock worth $17,588,000 after buying an additional 12,871 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Stryker Corporation by 462.7% in the first quarter. BNP Paribas Arbitrage SA now owns 252,230 shares of the medical technology company’s stock worth $33,206,000 after buying an additional 207,409 shares during the period. Finally, Hartland & Co. LLC raised its position in shares of Stryker Corporation by 1.4% in the first quarter. Hartland & Co. LLC now owns 1,860 shares of the medical technology company’s stock worth $245,000 after buying an additional 25 shares during the period. Hedge funds and other institutional investors own 73.99% of the company’s stock.
Shares of Stryker Corporation (NYSE:SYK) traded up 0.19% on Friday, hitting $144.18. The stock had a trading volume of 847,631 shares. Stryker Corporation has a 1-year low of $106.48 and a 1-year high of $148.84. The firm has a 50-day moving average of $143.71 and a 200 day moving average of $135.51. The company has a market capitalization of $53.93 billion, a PE ratio of 32.18 and a beta of 0.80.
Stryker Corporation (NYSE:SYK) last announced its earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. The company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same period in the previous year, the business earned $1.39 earnings per share. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities analysts anticipate that Stryker Corporation will post $6.50 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a dividend of $0.425 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.70 annualized dividend and a yield of 1.18%. Stryker Corporation’s payout ratio is 37.95%.
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A number of equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Stryker Corporation from a “hold” rating to a “buy” rating and set a $166.00 target price on the stock in a research note on Tuesday, August 1st. BidaskClub downgraded Stryker Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Cowen and Company reissued a “buy” rating and set a $160.00 price target (up previously from $150.00) on shares of Stryker Corporation in a research report on Sunday, July 30th. Oppenheimer Holdings, Inc. set a $148.00 price target on Stryker Corporation and gave the stock a “hold” rating in a research report on Friday, July 28th. Finally, Royal Bank Of Canada increased their price target on Stryker Corporation from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $144.03.
In other Stryker Corporation news, insider Lonny J. Carpenter sold 5,000 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $146.36, for a total transaction of $731,800.00. Following the completion of the sale, the insider now directly owns 88,207 shares in the company, valued at $12,909,976.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider David Floyd sold 7,381 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $144.70, for a total transaction of $1,068,030.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,810 shares of company stock valued at $4,754,958. Company insiders own 7.40% of the company’s stock.
About Stryker Corporation
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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