Indiana Trust & Investment Management Co Has $1.42 Million Stock Position in Stryker Co. (NYSE:SYK)

Indiana Trust & Investment Management Co lessened its position in shares of Stryker Co. (NYSE:SYK) by 6.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,916 shares of the medical technology company’s stock after selling 280 shares during the quarter. Indiana Trust & Investment Management Co’s holdings in Stryker were worth $1,415,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Centennial Bank AR grew its position in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares during the period. Central Pacific Bank Trust Division acquired a new stake in Stryker during the 1st quarter worth $39,000. HBW Advisory Services LLC bought a new stake in shares of Stryker during the 3rd quarter valued at $42,000. Grove Bank & Trust lifted its stake in shares of Stryker by 84.8% in the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after purchasing an additional 56 shares during the period. Finally, Sachetta LLC boosted its position in shares of Stryker by 16.3% in the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after purchasing an additional 34 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SYK has been the topic of several analyst reports. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Needham & Company LLC boosted their price objective on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $386.00 target price on shares of Stryker in a research note on Wednesday, July 31st. BTIG Research lifted their price target on shares of Stryker from $374.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Evercore ISI boosted their price target on shares of Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $381.16.

Stryker Stock Up 0.3 %

NYSE SYK traded up $1.18 during trading hours on Wednesday, hitting $360.16. 303,466 shares of the company traded hands, compared to its average volume of 1,251,582. The stock has a market capitalization of $137.25 billion, a price-to-earnings ratio of 40.02, a P/E/G ratio of 2.78 and a beta of 0.91. Stryker Co. has a twelve month low of $255.22 and a twelve month high of $374.63. The business’s 50-day moving average is $353.45 and its 200-day moving average is $342.96. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period last year, the business earned $2.54 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. Sell-side analysts anticipate that Stryker Co. will post 12 earnings per share for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.89%. Stryker’s dividend payout ratio (DPR) is currently 35.67%.

Insider Buying and Selling

In other news, insider Viju Menon sold 600 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Viju Menon sold 600 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. 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 this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction dated 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 transaction, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,068 shares of company stock valued at $71,811,372. Insiders own 5.50% of the company’s stock.

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.