Meeder Asset Management Inc. acquired a new position in shares of Stryker Co. (NYSE:SYK) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,110 shares of the medical technology company’s stock, valued at approximately $2,391,000.
A number of other hedge funds also recently modified their holdings of SYK. Campbell Capital Management Inc. acquired a new stake in shares of Stryker in the fourth quarter valued at approximately $204,000. British Airways Pensions Investment Management Ltd raised its position in shares of Stryker by 16.0% in the fourth quarter. British Airways Pensions Investment Management Ltd now owns 122,484 shares of the medical technology company’s stock valued at $19,214,000 after buying an additional 16,925 shares in the last quarter. Landsberg Bennett & Dubbaneh LLC acquired a new stake in shares of Stryker in the fourth quarter valued at approximately $1,926,000. Addenda Capital Inc. raised its position in shares of Stryker by 14.9% in the first quarter. Addenda Capital Inc. now owns 23,593 shares of the medical technology company’s stock valued at $4,671,000 after buying an additional 3,060 shares in the last quarter. Finally, Oakworth Capital Inc. raised its position in shares of Stryker by 4.8% in the fourth quarter. Oakworth Capital Inc. now owns 6,840 shares of the medical technology company’s stock valued at $1,073,000 after buying an additional 314 shares in the last quarter. Hedge funds and other institutional investors own 74.61% of the company’s stock.
A number of equities research analysts have recently weighed in on the stock. Barclays lifted their price target on shares of Stryker from $203.00 to $211.00 and gave the company an “overweight” rating in a research report on Monday. Zacks Investment Research cut shares of Stryker from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Wells Fargo & Co lifted their price objective on shares of Stryker from $214.00 to $219.00 and gave the company an “outperform” rating in a research note on Monday, April 1st. JPMorgan Chase & Co. lifted their price objective on shares of Stryker from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Finally, BTIG Research lifted their price objective on shares of Stryker to $211.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $192.13.
In other Stryker news, VP Katherine Ann Owen sold 29,247 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $185.62, for a total transaction of $5,428,828.14. Following the sale, the vice president now owns 11,131 shares of the company’s stock, valued at $2,066,136.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Kevin Lobo sold 41,750 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $194.11, for a total transaction of $8,104,092.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 125,789 shares of company stock worth $23,825,554. Insiders own 7.20% of the company’s stock.
Shares of NYSE:SYK opened at $189.04 on Wednesday. The company has a market capitalization of $72.17 billion, a P/E ratio of 25.86, a PEG ratio of 2.38 and a beta of 0.88. Stryker Co. has a 1 year low of $144.75 and a 1 year high of $199.85. The company has a current ratio of 2.02, a quick ratio of 1.41 and a debt-to-equity ratio of 0.72.
Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 29th. The medical technology company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The firm had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.73 billion. Stryker had a net margin of 26.12% and a return on equity of 27.60%. As a group, equities analysts predict that Stryker Co. will post 8.13 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.10%. Stryker’s payout ratio is presently 28.45%.
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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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