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

Bath Savings Trust Co boosted its position in Stryker Co. (NYSE:SYK) by 0.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 112,589 shares of the medical technology company’s stock after purchasing an additional 423 shares during the quarter. Stryker makes up 4.0% of Bath Savings Trust Co’s portfolio, making the stock its 5th biggest position. Bath Savings Trust Co’s holdings in Stryker were worth $40,674,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Koshinski Asset Management Inc. bought a new position in shares of Stryker during the first quarter valued at $795,000. Envestnet Portfolio Solutions Inc. boosted its position in shares of Stryker by 43.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock worth $6,617,000 after acquiring an additional 5,565 shares during the last quarter. Norden Group LLC bought a new stake in Stryker in the 1st quarter valued at $4,027,000. International Assets Investment Management LLC bought a new stake in shares of Stryker in the first quarter worth about $21,970,000. Finally, BI Asset Management Fondsmaeglerselskab A S increased its stake in Stryker by 38.5% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock worth $7,084,000 after acquiring an additional 5,502 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, the vice president now directly owns 10,042 shares in the company, valued at $3,685,213.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Stryker news, insider Viju Menon sold 600 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,685,213.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,068 shares of company stock worth $71,811,372. 5.90% of the stock is owned by insiders.

Stryker Trading Down 1.7 %

Shares of SYK stock opened at $345.14 on Tuesday. The stock has a 50 day simple moving average of $349.77 and a 200-day simple moving average of $342.99. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $374.63. The company has a market cap of $131.53 billion, a price-to-earnings ratio of 39.40, a PEG ratio of 2.71 and a beta of 0.91. 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 posted 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 analysts’ expectations of $5.40 billion. During the same period in the prior year, the business posted $2.54 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities research analysts expect that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.80 per share. The ex-dividend date is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.93%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Piper Sandler restated an “overweight” rating and issued a $380.00 target price on shares of Stryker in a report on Tuesday, September 10th. Evercore ISI raised their target price on shares of Stryker from $365.00 to $380.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. UBS Group upped their price target on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Needham & Company LLC raised their price objective on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Wolfe Research assumed coverage on Stryker in a research note on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price on the stock. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $379.37.

Stryker Company 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.