Stryker Co. (NYSE:SYK) Stake Lowered by Hemenway Trust Co LLC

Hemenway Trust Co LLC decreased its stake in Stryker Co. (NYSE:SYK) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,455 shares of the medical technology company’s stock after selling 78 shares during the period. Hemenway Trust Co LLC’s holdings in Stryker were worth $884,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC increased its holdings in shares of Stryker by 1.0% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 5,629 shares of the medical technology company’s stock worth $2,034,000 after acquiring an additional 54 shares during the period. IHT Wealth Management LLC grew its position in Stryker by 55.5% in the 3rd quarter. IHT Wealth Management LLC now owns 2,834 shares of the medical technology company’s stock worth $1,023,000 after purchasing an additional 1,011 shares during the last quarter. Morse Asset Management Inc increased its stake in shares of Stryker by 16.5% in the third quarter. Morse Asset Management Inc now owns 1,410 shares of the medical technology company’s stock valued at $509,000 after purchasing an additional 200 shares during the period. Quadrature Capital Ltd raised its holdings in shares of Stryker by 5.7% during the third quarter. Quadrature Capital Ltd now owns 9,183 shares of the medical technology company’s stock valued at $3,316,000 after buying an additional 492 shares during the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc boosted its position in shares of Stryker by 2.1% during the third quarter. Texas Capital Bank Wealth Management Services Inc now owns 1,981 shares of the medical technology company’s stock worth $716,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

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 transaction, the director now directly owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Allan C. Golston sold 2,458 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the sale, the director now owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.50% of the stock is owned by corporate insiders.

Stryker Stock Performance

Shares of SYK opened at $346.14 on Friday. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The company has a 50-day moving average of $381.69 and a two-hundred day moving average of $374.23. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The stock has a market cap of $132.12 billion, a price-to-earnings ratio of 44.61, a PEG ratio of 2.93 and a beta of 0.95.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping 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 previous year, the business posted $3.46 EPS. On average, equities research analysts expect that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid 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 0.97%. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of analyst reports. Barclays boosted their price target on Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Stifel Nicolaus upped their price objective on shares of Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Citigroup reissued a “buy” rating and set a $450.00 target price on shares of Stryker in a research note on Wednesday, February 26th. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research note on Tuesday, February 18th. Finally, Royal Bank of Canada raised their price objective on shares of Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus target price of $421.90.

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.