FineMark National Bank & Trust Sells 42 Shares of Stryker Co. (NYSE:SYK)

FineMark National Bank & Trust lessened its holdings in shares of Stryker Co. (NYSE:SYK) by 1.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,170 shares of the medical technology company’s stock after selling 42 shares during the quarter. FineMark National Bank & Trust’s holdings in Stryker were worth $1,501,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SYK. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Stryker during the 4th quarter worth approximately $25,000. Dunhill Financial LLC lifted its position in shares of Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares during the last quarter. Rakuten Securities Inc. boosted its stake in shares of Stryker by 618.2% during the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock valued at $28,000 after purchasing an additional 68 shares during the period. Centricity Wealth Management LLC bought a new position in shares of Stryker in the fourth quarter worth about $30,000. Finally, BankPlus Trust Department purchased a new position in Stryker in the 4th quarter worth about $33,000. Institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

SYK has been the subject of several research reports. Canaccord Genuity Group boosted their price objective on shares of Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Royal Bank of Canada boosted their price target on Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. The Goldman Sachs Group set a $422.00 price objective on Stryker in a research note on Tuesday, March 4th. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research report on Tuesday, February 18th. Finally, Citigroup reiterated a “buy” rating and issued a $450.00 target price on shares of Stryker in a report on Wednesday, February 26th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and a consensus target price of $421.90.

Insider Activity

In other news, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the sale, the director now directly owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This represents a 5.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the transaction, the director now directly owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Down 0.3 %

Shares of SYK stock opened at $373.00 on Wednesday. The stock’s fifty day moving average price is $384.76 and its 200 day moving average price is $374.34. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The company has a market cap of $142.33 billion, a price-to-earnings ratio of 48.07, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same quarter in the prior year, the company earned $3.46 EPS. On average, research analysts expect that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.90%. Stryker’s payout ratio is currently 43.30%.

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.