Rockland Trust Co. Sells 145 Shares of Stryker Co. (NYSE:SYK)

Rockland Trust Co. lowered its stake in shares of Stryker Co. (NYSE:SYK) by 4.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,925 shares of the medical technology company’s stock after selling 145 shares during the period. Rockland Trust Co.’s holdings in Stryker were worth $1,057,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Centennial Bank AR increased its stake in Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after buying an additional 48 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in Stryker during the 1st quarter valued at about $39,000. Accent Capital Management LLC purchased a new stake in Stryker in the 4th quarter worth approximately $60,000. Sachetta LLC boosted its position in shares of Stryker by 16.3% during the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock valued at $80,000 after acquiring an additional 34 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. grew its position in Stryker by 17.9% in the first quarter. Hazlett Burt & Watson Inc. now owns 264 shares of the medical technology company’s stock worth $94,000 after acquiring an additional 40 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

SYK has been the topic of several recent research reports. Barclays raised their price target on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Evercore ISI boosted their target price on shares of Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a research report on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $386.00 price objective on shares of Stryker in a research report on Wednesday, July 31st. UBS Group increased their price target on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, Truist Financial lowered their price objective on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $379.37.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the sale, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the transaction, the director now owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the sale, the chief financial officer now owns 2,852 shares in the company, valued at $949,716. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock valued at $71,811,372 in the last quarter. 5.90% of the stock is currently owned by corporate insiders.

Stryker Trading Down 0.1 %

Shares of Stryker stock traded down $0.39 on Friday, reaching $351.22. The company had a trading volume of 676,931 shares, compared to its average volume of 1,270,464. The firm has a market cap of $133.80 billion, a price-to-earnings ratio of 40.09, a P/E/G ratio of 2.74 and a beta of 0.91. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $374.63. The firm’s 50-day moving average price is $349.77 and its two-hundred day moving average price is $343.16. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The company had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the firm earned $2.54 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, research analysts predict that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.80 per share. The ex-dividend date is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.91%. Stryker’s payout ratio is 36.53%.

Stryker Profile

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.