Gulf International Bank UK Ltd increased its holdings in Stryker Co. (NYSE:SYK – Get Rating) by 6.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 66,875 shares of the medical technology company’s stock after acquiring an additional 3,846 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Stryker were worth $17,879,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Claremont Financial Group Inc. acquired a new position in shares of Stryker in the first quarter worth about $25,000. Cassady Schiller Wealth Management LLC bought a new stake in Stryker in the fourth quarter valued at about $27,000. Retirement Group LLC increased its holdings in Stryker by 86.8% in the fourth quarter. Retirement Group LLC now owns 99 shares of the medical technology company’s stock valued at $27,000 after buying an additional 46 shares during the last quarter. Exane Derivatives bought a new stake in Stryker in the first quarter valued at about $27,000. Finally, Dixon Hughes Goodman Wealth Advisors LLC increased its holdings in Stryker by 10,700.0% in the first quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 108 shares of the medical technology company’s stock valued at $29,000 after buying an additional 107 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on SYK shares. Morgan Stanley lowered their price objective on Stryker from $270.00 to $220.00 and set an “equal weight” rating for the company in a report on Friday, July 15th. Bank of America lowered Stryker from a “buy” rating to a “neutral” rating in a report on Monday, July 11th. Deutsche Bank Aktiengesellschaft lowered Stryker from a “buy” rating to a “hold” rating and lowered their target price for the company from $285.00 to $205.00 in a report on Thursday, July 21st. Citigroup lowered their target price on Stryker from $310.00 to $280.00 in a report on Tuesday, May 17th. Finally, StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $264.29.
Stryker Price Performance
Stryker (NYSE:SYK – Get Rating) last released its earnings results on Tuesday, July 26th. The medical technology company reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.03). Stryker had a return on equity of 24.09% and a net margin of 11.56%. During the same period last year, the company earned $2.25 earnings per share. As a group, equities analysts anticipate that Stryker Co. will post 9.6 EPS for the current fiscal year.
Stryker Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Thursday, June 30th will be given a dividend of $0.695 per share. The ex-dividend date is Wednesday, June 29th. This represents a $2.78 dividend on an annualized basis and a dividend yield of 1.28%. Stryker’s dividend payout ratio (DPR) is presently 52.85%.
Stryker Company Profile
Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.
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