Stryker Co. (NYSE:SYK) Stake Cut by Bangor Savings Bank

Bangor Savings Bank lessened its holdings in Stryker Co. (NYSE:SYK) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,371 shares of the medical technology company’s stock after selling 234 shares during the quarter. Bangor Savings Bank’s holdings in Stryker were worth $2,294,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Dunhill Financial LLC grew its position in shares of Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after buying an additional 37 shares during the last quarter. Centennial Bank AR boosted its stake in Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 48 shares during the period. Darwin Wealth Management LLC bought a new position in shares of Stryker during the third quarter valued at approximately $36,000. HBW Advisory Services LLC acquired a new stake in shares of Stryker during the 3rd quarter worth approximately $42,000. Finally, Hara Capital LLC bought a new stake in shares of Stryker in the 3rd quarter worth approximately $42,000. Institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SYK. Needham & Company LLC restated a “buy” rating and set a $442.00 price objective on shares of Stryker in a research note on Tuesday. JPMorgan Chase & Co. upped their price target on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Wolfe Research began coverage on shares of Stryker in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price objective on the stock. BTIG Research upped their target price on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $425.00 price target (up previously from $400.00) on shares of Stryker in a report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Stryker has an average rating of “Moderate Buy” and an average price target of $405.80.

Stryker Stock Performance

NYSE:SYK opened at $360.93 on Tuesday. The firm has a market cap of $137.59 billion, a price-to-earnings ratio of 38.68, a price-to-earnings-growth ratio of 2.82 and a beta of 0.95. Stryker Co. has a twelve month low of $294.34 and a twelve month high of $398.20. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average of $375.33 and a 200-day moving average of $357.33.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. Stryker’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.46 earnings per share. Analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.93%. This is a boost from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s payout ratio is presently 36.01%.

Insider Transactions at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.90% of the stock is currently owned by insiders.

About Stryker

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 total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.