Chicago Partners Investment Group LLC lifted its stake in Stryker Co. (NYSE:SYK – Get Rating) by 5.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,530 shares of the medical technology company’s stock after buying an additional 84 shares during the period. Chicago Partners Investment Group LLC’s holdings in Stryker were worth $355,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also made changes to their positions in SYK. LGT Group Foundation lifted its stake in Stryker by 307.9% during the first quarter. LGT Group Foundation now owns 7,101 shares of the medical technology company’s stock worth $1,910,000 after purchasing an additional 5,360 shares during the last quarter. Freestone Capital Holdings LLC lifted its stake in Stryker by 13.6% during the first quarter. Freestone Capital Holdings LLC now owns 1,701 shares of the medical technology company’s stock worth $455,000 after purchasing an additional 204 shares during the last quarter. Compass Financial Advisors LLC bought a new stake in Stryker during the fourth quarter worth $562,000. Spears Abacus Advisors LLC lifted its stake in Stryker by 31.9% during the fourth quarter. Spears Abacus Advisors LLC now owns 2,511 shares of the medical technology company’s stock worth $671,000 after purchasing an additional 608 shares during the last quarter. Finally, Peak Asset Management LLC lifted its stake in Stryker by 0.6% during the first quarter. Peak Asset Management LLC now owns 54,321 shares of the medical technology company’s stock worth $14,523,000 after purchasing an additional 345 shares during the last quarter. 76.44% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research analysts have recently issued reports on the stock. Robert W. Baird lowered their price target on shares of Stryker from $297.00 to $240.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. BTIG Research lowered their price target on shares of Stryker from $244.00 to $238.00 and set a “buy” rating for the company in a report on Tuesday, September 6th. Deutsche Bank Aktiengesellschaft downgraded shares of Stryker from a “buy” rating to a “hold” rating and lowered their price target for the stock from $285.00 to $205.00 in a report on Thursday, July 21st. Edward Jones upgraded shares of Stryker from a “hold” rating to a “buy” rating in a report on Thursday, July 28th. Finally, Cowen lowered their price target on shares of Stryker from $305.00 to $233.00 and set an “outperform” rating for the company in a report on Friday, July 22nd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus target price of $256.29.
Stryker Stock Performance
Stryker (NYSE:SYK – Get Rating) last issued its quarterly earnings results on Tuesday, July 26th. The medical technology company reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.03). Stryker had a net margin of 11.79% and a return on equity of 23.34%. During the same quarter in the prior year, the firm posted $2.25 EPS. As a group, analysts predict that Stryker Co. will post 9.38 EPS for the current year.
Stryker Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be given a dividend of $0.695 per share. The ex-dividend date is Thursday, September 29th. This represents a $2.78 dividend on an annualized basis and a dividend yield of 1.23%. Stryker’s dividend payout ratio (DPR) is presently 51.20%.
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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