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

Bank of Marin lowered its stake in Stryker Co. (NYSE:SYK) by 2.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SYK. GSA Capital Partners LLP acquired a new stake in Stryker in the 3rd quarter valued at $362,000. Empowered Funds LLC grew its position in Stryker by 6.5% in the 3rd quarter. Empowered Funds LLC now owns 6,504 shares of the medical technology company’s stock valued at $2,350,000 after purchasing an additional 399 shares during the period. Thrivent Financial for Lutherans grew its position in Stryker by 6.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 93,239 shares of the medical technology company’s stock valued at $33,683,000 after purchasing an additional 5,995 shares during the period. Drive Wealth Management LLC boosted its holdings in Stryker by 10.3% during the 3rd quarter. Drive Wealth Management LLC now owns 720 shares of the medical technology company’s stock worth $261,000 after acquiring an additional 67 shares during the last quarter. Finally, Caprock Group LLC boosted its holdings in Stryker by 2.8% during the 3rd quarter. Caprock Group LLC now owns 8,611 shares of the medical technology company’s stock worth $3,118,000 after acquiring an additional 234 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SYK shares. Truist Financial lifted their price objective on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Citigroup reaffirmed a “buy” rating and set a $450.00 price objective on shares of Stryker in a report on Wednesday, February 26th. Royal Bank of Canada lifted their target price on Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Canaccord Genuity Group lifted their target price on Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Finally, JMP Securities restated a “market perform” rating on shares of Stryker in a research note on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $421.90.

Insider Activity

In other news, Director Allan C. Golston sold 2,458 shares of the stock in a transaction that occurred 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 completion of 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction that occurred 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 approximately $1,428,567,498. This trade represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Stryker Stock Up 0.7 %

Shares of NYSE SYK opened at $376.13 on Wednesday. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $143.52 billion, a price-to-earnings ratio of 48.47, a PEG ratio of 2.93 and a beta of 0.95. The business has a 50-day moving average of $383.71 and a 200-day moving average of $373.82.

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

Stryker Announces Dividend

The company 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 $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio is currently 43.30%.

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.