Todays Report: The Blue Fin Capital Inc. Cuts Position in Stryker Corp. (SYK)

The Blue Fin Capital Inc. Cuts Position in Stryker Corp. (SYK)

Blue Fin Capital Inc. decreased its position in shares of Stryker Corp. (NYSE:SYK) by 2.4% during the second quarter, Holdings Channel reports. The institutional investor owned 6,690 shares of the medical technology company’s stock after selling 165 shares during the period. Blue Fin Capital Inc.’s holdings in Stryker Corp. were worth $802,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Wellington Management Group LLP increased its position in Stryker Corp. by 10.0% in the first quarter. Wellington Management Group LLP now owns 5,509,234 shares of the medical technology company’s stock worth $591,086,000 after buying an additional 499,015 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Stryker Corp. during the first quarter worth $272,490,000. Geode Capital Management LLC increased its position in Stryker Corp. by 1.8% in the first quarter. Geode Capital Management LLC now owns 2,519,340 shares of the medical technology company’s stock worth $269,736,000 after buying an additional 43,484 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in Stryker Corp. by 1.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 970,971 shares of the medical technology company’s stock worth $116,351,000 after buying an additional 15,527 shares in the last quarter. Finally, Royal Bank of Canada increased its position in Stryker Corp. by 5.0% in the first quarter. Royal Bank of Canada now owns 726,762 shares of the medical technology company’s stock worth $77,976,000 after buying an additional 34,321 shares in the last quarter. Institutional investors and hedge funds own 75.50% of the company’s stock.

Shares of Stryker Corp. (NYSE:SYK) traded up 0.004% during trading on Monday, hitting $113.655. 379,078 shares of the company’s stock were exchanged. The stock has a market cap of $42.54 billion, a PE ratio of 26.793 and a beta of 0.72. Stryker Corp. has a 1-year low of $86.68 and a 1-year high of $123.55. The stock’s 50-day moving average price is $115.22 and its 200-day moving average price is $114.11.

Stryker Corp. (NYSE:SYK) last posted its earnings results on Thursday, July 21st. The medical technology company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.02. The firm earned $2.84 billion during the quarter, compared to analysts’ expectations of $2.79 billion. Stryker Corp. had a net margin of 15.33% and a return on equity of 23.61%. On average, equities analysts expect that Stryker Corp. will post $5.76 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be issued a $0.38 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.34%. Stryker Corp.’s dividend payout ratio (DPR) is currently 35.85%.

SYK has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of Stryker Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, September 27th. Brean Capital reiterated a “buy” rating and issued a $125.00 target price (up from $121.00) on shares of Stryker Corp. in a research note on Monday, July 25th. Needham & Company LLC reiterated a “hold” rating on shares of Stryker Corp. in a research note on Sunday, July 24th. Jefferies Group reiterated a “hold” rating and issued a $120.00 target price (up from $113.00) on shares of Stryker Corp. in a research note on Monday, July 25th. Finally, Credit Suisse Group AG reiterated an “outperform” rating and issued a $124.00 target price (up from $110.00) on shares of Stryker Corp. in a research note on Tuesday, July 19th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $117.91.

In related news, Director Ronda E. Stryker sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $122.26, for a total value of $1,467,120.00. Following the completion of the transaction, the director now owns 193,142 shares in the company, valued at approximately $23,613,540.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Yin C. Becker sold 1,111 shares of the firm’s stock in a transaction that occurred on Thursday, October 6th. The shares were sold at an average price of $117.00, for a total transaction of $129,987.00. Following the completion of the transaction, the vice president now owns 16,939 shares of the company’s stock, valued at approximately $1,981,863. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by insiders.

About Stryker Corp.

Stryker Corporation (Stryker) is a medical technology company. The Company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Company’s Orthopaedics segment products consist of implants used in hip and knee joint replacements and trauma and surgeries. The Company’s MedSurg segment products consist of surgical equipment and surgical navigation systems (Instruments); endoscopic and communications systems (Endoscopy); patient handling and emergency medical equipment (Medical), and reprocessed and remanufactured medical devices (Sustainability), as well as other medical device products used in a range of medical specialties.

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