World Asset Management Inc Increases Stock Holdings in Stryker Co. (NYSE:SYK)
World Asset Management Inc lifted its position in Stryker Co. (NYSE:SYK) by 2.2% in the second quarter, HoldingsChannel reports. The firm owned 22,346 shares of the medical technology company’s stock after buying an additional 481 shares during the period. World Asset Management Inc’s holdings in Stryker were worth $4,594,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. D.B. Root & Company LLC boosted its stake in Stryker by 3.0% during the second quarter. D.B. Root & Company LLC now owns 1,724 shares of the medical technology company’s stock worth $354,000 after buying an additional 50 shares during the period. Welch Group LLC boosted its stake in shares of Stryker by 1.5% in the first quarter. Welch Group LLC now owns 3,774 shares of the medical technology company’s stock valued at $745,000 after purchasing an additional 54 shares during the period. Independence Bank of Kentucky boosted its stake in shares of Stryker by 4.9% in the first quarter. Independence Bank of Kentucky now owns 1,180 shares of the medical technology company’s stock valued at $233,000 after purchasing an additional 55 shares during the period. Benedict Financial Advisors Inc. boosted its stake in shares of Stryker by 1.1% in the first quarter. Benedict Financial Advisors Inc. now owns 5,235 shares of the medical technology company’s stock valued at $1,034,000 after purchasing an additional 57 shares during the period. Finally, Berman Capital Advisors LLC boosted its stake in shares of Stryker by 11.1% in the first quarter. Berman Capital Advisors LLC now owns 571 shares of the medical technology company’s stock valued at $112,000 after purchasing an additional 57 shares during the period. 73.53% of the stock is owned by hedge funds and other institutional investors.
SYK has been the subject of several recent research reports. Piper Jaffray Companies set a $265.00 price objective on shares of SVB Financial Group and gave the company a “buy” rating in a research note on Friday. BTIG Research reissued a “buy” rating and issued a $228.00 price objective on shares of Stryker in a research note on Monday. Raymond James set a $240.00 price objective on shares of Stryker and gave the company a “buy” rating in a research note on Friday. Morgan Stanley lowered their price objective on shares of Neon Therapeutics from $19.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, July 16th. Finally, Canaccord Genuity set a $37.00 price objective on shares of Homology Medicines and gave the company a “buy” rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $214.89.
NYSE:SYK traded down $0.44 during mid-day trading on Monday, hitting $214.01. The stock had a trading volume of 51,825 shares, compared to its average volume of 929,456. The firm’s 50-day simple moving average is $204.17. The company has a market capitalization of $80.01 billion, a P/E ratio of 29.24, a PEG ratio of 2.58 and a beta of 0.87. Stryker Co. has a twelve month low of $144.75 and a twelve month high of $222.59. The company has a quick ratio of 1.26, a current ratio of 2.07 and a debt-to-equity ratio of 0.67.
Stryker (NYSE:SYK) last issued its earnings results on Thursday, July 25th. The medical technology company reported $1.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $0.05. Stryker had a net margin of 24.99% and a return on equity of 25.98%. The firm had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.60 billion. During the same quarter last year, the company earned $1.76 earnings per share. The firm’s revenue was up 9.9% compared to the same quarter last year. As a group, equities analysts anticipate that Stryker Co. will post 8.2 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $2.08 dividend on an annualized basis and a yield of 0.97%. Stryker’s payout ratio is currently 28.45%.
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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