Welch Forbes Lowers stake in Stryker Corporation (SYK)

Stryker Corporation (SYK) : Welch Forbes reduced its stake in Stryker Corporation by 0.1% during the most recent quarter end. The investment management company now holds a total of 579,357 shares of Stryker Corporation which is valued at $66,521,771 after selling 590 shares in Stryker Corporation , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Stryker Corporation makes up approximately 1.97% of Welch Forbes’s portfolio.

Other Hedge Funds, Including , Stonebridge Capital Management Inc reduced its stake in SYK by selling 250 shares or 0.63% in the most recent quarter. The Hedge Fund company now holds 39,566 shares of SYK which is valued at $4,543,364. Stryker Corporation makes up approx 2.00% of Stonebridge Capital Management Inc’s portfolio.Destination Wealth Management reduced its stake in SYK by selling 15,810 shares or 9.21% in the most recent quarter. The Hedge Fund company now holds 155,777 shares of SYK which is valued at $17,887,873. Stryker Corporation makes up approx 1.44% of Destination Wealth Management’s portfolio.Ferguson Wellman Capital Management Inc reduced its stake in SYK by selling 4,858 shares or 2.72% in the most recent quarter. The Hedge Fund company now holds 174,040 shares of SYK which is valued at $21,166,745. Stryker Corporation makes up approx 0.86% of Ferguson Wellman Capital Management Inc’s portfolio.

Stryker Corporation closed down -0.08 points or -0.07% at $114.82 with 10,13,387 shares getting traded on Monday. Post opening the session at $114.99, the shares hit an intraday low of $114.07 and an intraday high of $115.07 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Stryker Corporation reported $1.24 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $1.20. The company had revenue of $2495.00 million for the quarter, compared to analysts expectations of $2471.86 million. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.11 EPS.

Investors should note that on Jul 27, 2016, Stryker Corporation announced a cash dividend of $0.3800. The company’s management has announced Sep 28, 2016 as the ex-dividend date and fixed the record date on Sep 30, 2016. The payable date has been fixed on Oct 31, 2016.

Many Wall Street Analysts have commented on Stryker Corporation. Stryker Corporation was Initiated by Guggenheim to “Buy” on Jun 9, 2016.

Stryker Corporation is a medical technology company. The Company offers a range of products and services in Orthopaedics Medical and Surgical and Neurotechnology and Spine which help improve patient and hospital outcomes.

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