Stryker Co. (NYSE:SYK) Stake Boosted by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC raised its position in shares of Stryker Co. (NYSE:SYK) by 9.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,392 shares of the medical technology company’s stock after buying an additional 916 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Stryker were worth $3,754,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SYK. Whittier Trust Co. lifted its position in shares of Stryker by 24.0% in the 3rd quarter. Whittier Trust Co. now owns 4,150 shares of the medical technology company’s stock valued at $1,499,000 after acquiring an additional 804 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of Stryker in the third quarter valued at $162,000. Everence Capital Management Inc. lifted its holdings in shares of Stryker by 47.8% in the third quarter. Everence Capital Management Inc. now owns 7,880 shares of the medical technology company’s stock valued at $2,847,000 after purchasing an additional 2,550 shares in the last quarter. Prio Wealth Limited Partnership boosted its position in shares of Stryker by 4.2% in the third quarter. Prio Wealth Limited Partnership now owns 5,326 shares of the medical technology company’s stock worth $1,924,000 after buying an additional 215 shares during the period. Finally, Brown Lisle Cummings Inc. grew its holdings in shares of Stryker by 22.5% during the third quarter. Brown Lisle Cummings Inc. now owns 6,386 shares of the medical technology company’s stock valued at $2,307,000 after buying an additional 1,175 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Stryker news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Viju Menon sold 600 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. This represents 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 worth $71,811,372 in the last ninety days. Insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Shares of Stryker stock traded down $2.31 on Monday, reaching $367.25. The stock had a trading volume of 902,275 shares, compared to its average volume of 1,251,829. Stryker Co. has a fifty-two week low of $255.22 and a fifty-two week high of $374.63. The business’s 50-day moving average price is $355.79 and its two-hundred day moving average price is $343.20. 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 cap of $139.90 billion, a P/E ratio of 42.19, a price-to-earnings-growth ratio of 2.85 and a beta of 0.91.

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

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of research reports. Piper Sandler restated an “overweight” rating and set a $380.00 price objective on shares of Stryker in a research report on Tuesday, September 10th. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. Evercore ISI increased their target price on shares of Stryker from $365.00 to $380.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. UBS Group lifted their target price on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $386.00 price target on shares of Stryker in a research note on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $381.16.

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.