Rockland Trust Co. trimmed its position in shares of Stryker Co. (NYSE:SYK) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,685 shares of the medical technology company’s stock after selling 150 shares during the period. Rockland Trust Co.’s holdings in Stryker were worth $1,212,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. Massey Quick Simon & CO. LLC purchased a new stake in Stryker in the 2nd quarter valued at about $27,000. Ossiam purchased a new stake in Stryker in the 2nd quarter valued at about $33,000. Stonebridge Capital Advisors LLC purchased a new stake in Stryker in the 2nd quarter valued at about $39,000. Webster Bank N. A. boosted its position in Stryker by 300.0% in the 2nd quarter. Webster Bank N. A. now owns 200 shares of the medical technology company’s stock valued at $41,000 after buying an additional 150 shares during the period. Finally, Westside Investment Management Inc. purchased a new stake in Stryker in the 2nd quarter valued at about $47,000. Institutional investors own 72.95% of the company’s stock.
Shares of SYK stock opened at $213.81 on Friday. The stock’s fifty day simple moving average is $216.98 and its 200 day simple moving average is $203.00. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.07 and a quick ratio of 1.26. The firm has a market cap of $78.89 billion, a price-to-earnings ratio of 29.25, a P/E/G ratio of 2.56 and a beta of 0.81. Stryker Co. has a one year low of $144.75 and a one year high of $223.45.
Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, July 25th. The medical technology company reported $1.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $0.05. The business had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.60 billion. Stryker had a return on equity of 25.98% and a net margin of 24.99%. Stryker’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.76 EPS. On average, research analysts anticipate that Stryker Co. will post 8.21 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.97%. The ex-dividend date is Friday, September 27th. Stryker’s dividend payout ratio is 28.45%.
A number of research analysts have issued reports on the stock. Credit Suisse Group upped their price target on shares of Stryker from $232.00 to $237.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Cantor Fitzgerald raised their price objective on Stryker from $190.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. BMO Capital Markets set a $216.00 price objective on Stryker and gave the company a “hold” rating in a research note on Friday, July 26th. Robert W. Baird raised their price objective on Stryker from $206.00 to $239.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada set a $220.00 price objective on Stryker and gave the company a “buy” rating in a research note on Friday, July 26th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Stryker presently has an average rating of “Buy” and an average price target of $214.89.
In other Stryker news, VP M Kathryn Fink sold 28,690 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $220.97, for a total value of $6,339,629.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Timothy J. Scannell sold 4,666 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $218.51, for a total value of $1,019,567.66. The disclosure for this sale can be found here. In the last three months, insiders sold 51,637 shares of company stock worth $11,240,206. Insiders own 7.20% of the company’s stock.
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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