Bath Savings Trust Co Boosts Stock Position in Stryker Co. (NYSE:SYK)

Bath Savings Trust Co boosted its stake in shares of Stryker Co. (NYSE:SYK) by 0.7% 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 113,412 shares of the medical technology company’s stock after purchasing an additional 823 shares during the quarter. Stryker comprises approximately 4.1% of Bath Savings Trust Co’s investment portfolio, making the stock its 5th biggest position. Bath Savings Trust Co’s holdings in Stryker were worth $40,834,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Regent Peak Wealth Advisors LLC bought a new position in Stryker during the 4th quarter worth $204,000. CWA Asset Management Group LLC lifted its holdings in shares of Stryker by 3.5% in the fourth quarter. CWA Asset Management Group LLC now owns 3,854 shares of the medical technology company’s stock worth $1,388,000 after acquiring an additional 131 shares during the last quarter. Nordea Investment Management AB boosted its position in Stryker by 15.8% in the fourth quarter. Nordea Investment Management AB now owns 971,735 shares of the medical technology company’s stock valued at $350,485,000 after buying an additional 132,513 shares in the last quarter. Everence Capital Management Inc. grew its position in Stryker by 21.4% during the 4th quarter. Everence Capital Management Inc. now owns 9,570 shares of the medical technology company’s stock worth $3,446,000 after acquiring an additional 1,690 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Stryker by 65.1% in the 4th quarter. GAMMA Investing LLC now owns 4,789 shares of the medical technology company’s stock valued at $1,724,000 after buying an additional 1,888 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SYK. Canaccord Genuity Group lifted their price target on shares of Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Evercore ISI upped their price target on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Robert W. Baird raised their price objective on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. BTIG Research upped their target price on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Needham & Company LLC restated a “buy” rating and issued a $442.00 price target on shares of Stryker in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $405.80.

Stryker Stock Down 1.3 %

NYSE:SYK traded down $4.59 during trading hours on Tuesday, hitting $356.77. 959,395 shares of the company traded hands, compared to its average volume of 968,429. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The company has a market cap of $136.01 billion, a PE ratio of 38.24, a PEG ratio of 2.82 and a beta of 0.95. The firm’s 50-day simple moving average is $375.33 and its 200-day simple moving average is $357.33. Stryker Co. has a one year low of $294.34 and a one year high of $398.20.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.10. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm’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 company earned $2.46 earnings per share. Equities analysts predict that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.84 dividend. This is an increase from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s payout ratio is 36.01%.

Insider Activity at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction dated 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 in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.90% of the stock is owned by company 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.