Stryker Co. (NYSE:SYK) Stock Position Increased by Bath Savings Trust Co

Bath Savings Trust Co lifted its stake in Stryker Co. (NYSE:SYK) by 0.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 113,412 shares of the medical technology company’s stock after purchasing an additional 823 shares during the period. Stryker makes up approximately 4.1% of Bath Savings Trust Co’s portfolio, making the stock its 5th biggest position. Bath Savings Trust Co’s holdings in Stryker were worth $40,834,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SYK. Private Advisor Group LLC boosted its holdings in Stryker by 0.9% in the 2nd quarter. Private Advisor Group LLC now owns 15,441 shares of the medical technology company’s stock valued at $5,254,000 after purchasing an additional 131 shares during the period. Advisor OS LLC grew its position in Stryker by 6.4% during the second quarter. Advisor OS LLC now owns 630 shares of the medical technology company’s stock worth $214,000 after buying an additional 38 shares in the last quarter. Norden Group LLC increased its stake in Stryker by 6.1% in the 2nd quarter. Norden Group LLC now owns 831 shares of the medical technology company’s stock worth $283,000 after acquiring an additional 48 shares during the last quarter. Asset Dedication LLC raised its holdings in shares of Stryker by 3.5% in the 2nd quarter. Asset Dedication LLC now owns 1,185 shares of the medical technology company’s stock valued at $403,000 after acquiring an additional 40 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Stryker by 15.2% during the 2nd quarter. Acadian Asset Management LLC now owns 64,501 shares of the medical technology company’s stock valued at $21,939,000 after acquiring an additional 8,495 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SYK. JMP Securities restated a “market perform” rating on shares of Stryker in a research report on Tuesday. Truist Financial increased their price target on shares of Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Canaccord Genuity Group upped their target price on shares of Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. Finally, JPMorgan Chase & Co. upped their price objective on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $405.80.

Stryker Stock Performance

Stryker stock traded down $4.59 during trading on Tuesday, reaching $356.77. The company had a trading volume of 959,395 shares, compared to its average volume of 968,429. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The firm’s 50-day simple moving average is $375.33 and its 200 day simple moving average is $357.33. The firm has a market capitalization of $136.01 billion, a price-to-earnings ratio of 38.24, a price-to-earnings-growth ratio of 2.82 and a beta of 0.95. Stryker Co. has a 52 week low of $294.34 and a 52 week high of $398.20.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.10. The company had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.46 EPS. Sell-side analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.84 dividend. This is a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.94%. Stryker’s dividend payout ratio is 36.01%.

Stryker Company 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.