Stryker Co. (NYSE:SYK) Shares Sold by Riverview Trust Co
Riverview Trust Co lowered its position in shares of Stryker Co. (NYSE:SYK) by 7.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,927 shares of the medical technology company’s stock after selling 166 shares during the quarter. Riverview Trust Co’s holdings in Stryker were worth $396,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the business. Fishman Jay A Ltd. MI raised its stake in Stryker by 0.3% in the 4th quarter. Fishman Jay A Ltd. MI now owns 65,380 shares of the medical technology company’s stock valued at $10,248,000 after acquiring an additional 210 shares during the period. Geode Capital Management LLC raised its stake in Stryker by 6.5% in the 4th quarter. Geode Capital Management LLC now owns 3,665,205 shares of the medical technology company’s stock valued at $573,387,000 after acquiring an additional 224,785 shares during the period. Nuveen Asset Management LLC raised its stake in Stryker by 1.2% in the 4th quarter. Nuveen Asset Management LLC now owns 12,777 shares of the medical technology company’s stock valued at $2,003,000 after acquiring an additional 157 shares during the period. Cetera Advisors LLC raised its stake in Stryker by 8.1% in the 4th quarter. Cetera Advisors LLC now owns 4,937 shares of the medical technology company’s stock valued at $776,000 after acquiring an additional 369 shares during the period. Finally, Western Wealth Management LLC bought a new stake in Stryker in the 4th quarter valued at about $208,000. 73.59% of the stock is owned by institutional investors and hedge funds.
A number of research firms have weighed in on SYK. Wells Fargo & Co reaffirmed a “hold” rating on shares of Perrigo in a report on Tuesday, July 2nd. Robert W. Baird lifted their target price on Verisign from $210.00 to $240.00 and gave the company an “outperform” rating in a report on Friday. Svb Leerink reaffirmed an “outperform” rating on shares of Stryker in a report on Wednesday, July 10th. Canaccord Genuity lifted their target price on Toromont Industries from C$62.00 to C$64.00 and gave the company a “hold” rating in a report on Friday. Finally, Piper Jaffray Companies lowered Superior Energy Services from an “overweight” rating to a “neutral” rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $210.41.
Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, July 25th. The medical technology company reported $1.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.93 by $0.05. Stryker had a return on equity of 26.47% and a net margin of 24.99%. The company had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.60 billion. During the same quarter in the previous year, the firm earned $1.76 earnings per share. Stryker’s revenue was up 9.9% on a year-over-year basis. As a group, analysts anticipate that Stryker Co. will post 8.15 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Thursday, June 27th. Stryker’s payout ratio is 28.45%.
In other news, VP Bijoy Sagar sold 2,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $190.43, for a total transaction of $380,860.00. Following the completion of the transaction, the vice president now owns 3,350 shares of the company’s stock, valued at $637,940.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Glenn S. Boehnlein sold 2,700 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $188.21, for a total value of $508,167.00. Following the transaction, the chief financial officer now directly owns 23,333 shares of the company’s stock, valued at approximately $4,391,503.93. The disclosure for this sale can be found here. Insiders have sold 18,698 shares of company stock valued at $3,643,227 in 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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