Bank of Marin Sells 66 Shares of Stryker Co. (NYSE:SYK)

Bank of Marin cut its stake in Stryker Co. (NYSE:SYK) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,235 shares of the medical technology company’s stock after selling 66 shares during the quarter. Bank of Marin’s holdings in Stryker were worth $805,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp grew its stake in shares of Stryker by 2.2% in the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after acquiring an additional 316,404 shares in the last quarter. FMR LLC grew its stake in shares of Stryker by 3.0% in the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after acquiring an additional 215,782 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Stryker by 2.5% in the third quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock valued at $2,484,893,000 after acquiring an additional 165,490 shares in the last quarter. Parnassus Investments LLC acquired a new position in shares of Stryker in the third quarter valued at about $762,798,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Stryker by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,985,045 shares of the medical technology company’s stock valued at $714,715,000 after acquiring an additional 48,819 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SYK shares. JMP Securities reiterated a “market perform” rating on shares of Stryker in a research note on Tuesday, February 18th. Royal Bank of Canada increased their price objective on shares of Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Needham & Company LLC reiterated a “buy” rating and set a $442.00 price objective on shares of Stryker in a research note on Wednesday, January 29th. Wells Fargo & Company increased their price objective on shares of Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Finally, Barclays increased their price objective on shares of Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $421.90.

Stryker Stock Up 0.7 %

Shares of NYSE SYK opened at $376.13 on Wednesday. The company has a 50 day simple moving average of $383.71 and a 200 day simple moving average of $373.82. The firm has a market cap of $143.52 billion, a PE ratio of 48.47, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. 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 issued its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period last year, the firm posted $3.46 earnings per share. On average, research analysts forecast that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.89%. Stryker’s payout ratio is 43.30%.

Insiders Place Their Bets

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

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.