UBS Asset Management Americas Inc. Reduces Stake in Stryker Corp. (SYK)
UBS Asset Management Americas Inc. decreased its stake in Stryker Corp. (NYSE:SYK) by 0.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 914,048 shares of the medical technology company’s stock after selling 1,416 shares during the period. UBS Asset Management Americas Inc.’s holdings in Stryker Corp. were worth $106,405,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SYK. First Republic Investment Management Inc. increased its stake in Stryker Corp. by 35.2% in the first quarter. First Republic Investment Management Inc. now owns 46,302 shares of the medical technology company’s stock worth $4,968,000 after buying an additional 12,067 shares during the last quarter. First Financial Bank N.A. Trust Division increased its stake in Stryker Corp. by 2.5% in the second quarter. First Financial Bank N.A. Trust Division now owns 41,904 shares of the medical technology company’s stock worth $5,021,000 after buying an additional 1,031 shares during the last quarter. Baxter Bros Inc. acquired a new stake in Stryker Corp. during the second quarter worth approximately $705,000. Raymond James Trust N.A. increased its stake in Stryker Corp. by 5.4% in the second quarter. Raymond James Trust N.A. now owns 17,919 shares of the medical technology company’s stock worth $2,147,000 after buying an additional 919 shares during the last quarter. Finally, CenturyLink Investment Management Co increased its stake in Stryker Corp. by 5.9% in the second quarter. CenturyLink Investment Management Co now owns 5,237 shares of the medical technology company’s stock worth $628,000 after buying an additional 292 shares during the last quarter. Hedge funds and other institutional investors own 74.90% of the company’s stock.
Shares of Stryker Corp. (NYSE:SYK) opened at 115.41 on Wednesday. The firm has a market capitalization of $43.22 billion, a price-to-earnings ratio of 26.27 and a beta of 0.86. Stryker Corp. has a 52 week low of $86.68 and a 52 week high of $123.55. The company’s 50-day moving average is $113.51 and its 200 day moving average is $115.06.
Stryker Corp. (NYSE:SYK) last issued its quarterly earnings results on Thursday, October 27th. The medical technology company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.37 by $0.02. Stryker Corp. had a net margin of 15.24% and a return on equity of 23.61%. The firm earned $2.83 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the prior year, the business posted $1.25 earnings per share. Stryker Corp.’s revenue for the quarter was up 17.1% compared to the same quarter last year. Analysts anticipate that Stryker Corp. will post $5.78 EPS for the current fiscal year.
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A number of analysts have commented on SYK shares. Zacks Investment Research downgraded shares of Stryker Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, September 27th. SunTrust Banks Inc. started coverage on shares of Stryker Corp. in a report on Thursday, October 13th. They issued a “buy” rating and a $140.00 price objective for the company. Oppenheimer Holdings Inc. set a $122.00 price objective on shares of Stryker Corp. and gave the company a “hold” rating in a report on Sunday, October 30th. Canaccord Genuity set a $127.00 price objective on shares of Stryker Corp. and gave the company a “buy” rating in a report on Sunday, October 30th. Finally, BMO Capital Markets upgraded shares of Stryker Corp. from an “underperform” rating to a “market perform” rating and set a $125.00 price objective for the company in a report on Tuesday, November 1st. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $122.38.
In other Stryker Corp. news, Director Ronda E. Stryker sold 18,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $109.53, for a total transaction of $1,971,540.00. Following the completion of the sale, the director now directly owns 193,142 shares in the company, valued at $21,154,843.26. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ronda E. Stryker sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $115.16, for a total transaction of $1,381,920.00. Following the sale, the director now owns 193,142 shares of the company’s stock, valued at $22,242,232.72. The disclosure for this sale can be found here. Corporate insiders own 7.80% of the company’s stock.
Stryker Corp. Company Profile
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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