Azimuth Capital Management Lowers stake in Stryker Corporation (SYK)

Stryker Corporation (SYK) : Azimuth Capital Management reduced its stake in Stryker Corporation by 1.26% during the most recent quarter end. The investment management company now holds a total of 112,765 shares of Stryker Corporation which is valued at $12.5 Million after selling 1,434 shares in Stryker Corporation , the firm said in a disclosure report filed with the SEC on May 11, 2016.Stryker Corporation makes up approximately 1.20% of Azimuth Capital Management’s portfolio.

Other Hedge Funds, Including , Peak Asset Management boosted its stake in SYK in the latest quarter, The investment management firm added 349 additional shares and now holds a total of 66,877 shares of Stryker Corporation which is valued at $7.4 Million. Stryker Corporation makes up approx 1.60% of Peak Asset Management’s portfolio.Todd Asset Management reduced its stake in SYK by selling 4,472 shares or 1.94% in the most recent quarter. The Hedge Fund company now holds 225,492 shares of SYK which is valued at $25 Million. Stryker Corporation makes up approx 0.77% of Todd Asset Management’s portfolio.Hudock Capital Group boosted its stake in SYK in the latest quarter, The investment management firm added 1 additional shares and now holds a total of 435 shares of Stryker Corporation which is valued at $48,376. Stryker Corporation makes up approx 0.03% of Hudock Capital Group’s portfolio.

Stryker Corporation opened for trading at $110.86 and hit $112.6912 on the upside on Monday, eventually ending the session at $112.35, with a gain of 1.30% or 1.44 points. The heightened volatility saw the trading volume jump to 10,32,074 shares. Company has a market cap of $42,017 M.

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 Apr 27, 2016, Stryker Corporation announced a cash dividend of $0.3800. The company’s management has announced Jun 28, 2016 as the ex-dividend date and fixed the record date on Jun 30, 2016. The payable date has been fixed on Jul 29, 2016.

Many Wall Street Analysts have commented on Stryker Corporation. Stryker Corporation was Upgraded by Sterne Agee CRT to ” Buy” on Apr 27, 2016. Company shares were Reiterated by RBC Capital Mkts on Apr 26, 2016 to “Outperform”, Firm has raised the Price Target to $ 120 from a previous price target of $108 .Company shares were Downgraded by Robert W. Baird on Apr 13, 2016 to ” Neutral”, Firm has raised the Price Target to $ 116 from a previous price target of $111 .

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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