Perkins Coie Trust Co Cuts Stake in Stryker Co. (NYSE:SYK)

Perkins Coie Trust Co lowered its stake in shares of Stryker Co. (NYSE:SYK) by 0.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,577 shares of the medical technology company’s stock after selling 105 shares during the period. Perkins Coie Trust Co’s holdings in Stryker were worth $4,182,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Centennial Bank AR grew its stake in Stryker by 106.7% during the 2nd 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 in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Stryker in the 1st quarter valued at approximately $39,000. HBW Advisory Services LLC purchased a new stake in shares of Stryker in the 3rd quarter valued at approximately $42,000. Accent Capital Management LLC purchased a new stake in shares of Stryker in the 4th quarter valued at approximately $60,000. Finally, Sachetta LLC grew its stake in shares of Stryker by 16.3% in the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock valued at $80,000 after buying an additional 34 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Activity at Stryker

In related news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,715,540. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Stryker news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 220,068 shares of company stock valued at $71,811,372 in the last ninety days. Insiders own 5.90% of the company’s stock.

Stryker Stock Up 0.0 %

Shares of NYSE:SYK traded up $0.10 during trading hours on Wednesday, reaching $350.89. The stock had a trading volume of 51,362 shares, compared to its average volume of 1,261,536. 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 is $350.43 and its 200-day moving average is $342.92. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. The stock has a market capitalization of $133.67 billion, a price-to-earnings ratio of 40.05, a P/E/G ratio of 2.71 and a beta of 0.91.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the prior year, the firm posted $2.54 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. Research analysts predict that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business 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 $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is 36.53%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SYK shares. Royal Bank of Canada reissued an “outperform” rating and issued a $386.00 price target on shares of Stryker in a research note on Wednesday, July 31st. Barclays upped their price objective on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Truist Financial decreased their price objective on shares of Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Needham & Company LLC upped their price objective on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus decreased their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $379.37.

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.