Hemenway Trust Co LLC Has $884,000 Holdings in Stryker Co. (NYSE:SYK)

Hemenway Trust Co LLC reduced its stake in shares of Stryker Co. (NYSE:SYK) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 quarter.

Several other large investors also recently made changes to their positions in the stock. Wedbush Securities Inc. grew its holdings in Stryker by 2.4% during the fourth quarter. Wedbush Securities Inc. now owns 6,804 shares of the medical technology company’s stock valued at $2,450,000 after purchasing an additional 157 shares during the last quarter. Aviva PLC boosted its holdings in shares of Stryker by 61.8% during the 4th quarter. Aviva PLC now owns 207,332 shares of the medical technology company’s stock worth $74,650,000 after buying an additional 79,223 shares during the period. Dynamic Technology Lab Private Ltd grew its stake in Stryker by 238.7% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 2,970 shares of the medical technology company’s stock valued at $1,069,000 after buying an additional 2,093 shares during the last quarter. Mizuho Bank Ltd. acquired a new position in Stryker during the 4th quarter worth $76,000. Finally, Resona Asset Management Co. Ltd. bought a new stake in Stryker during the fourth quarter valued at about $35,511,000. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of NYSE:SYK opened at $346.14 on Friday. The stock has a market capitalization of $132.12 billion, a price-to-earnings ratio of 44.61, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. The business’s fifty day moving average price is $381.69 and its two-hundred day moving average price is $374.23. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week 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 announced its quarterly earnings results 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 posted $3.46 earnings per share. As a group, analysts predict that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors 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 dividend on an annualized basis and a yield of 0.97%. Stryker’s dividend payout ratio is 43.30%.

Insider Buying and Selling at Stryker

In other news, 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 value of $941,586.06. Following the completion of the sale, the director now directly owns 14,895 shares in the company, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following 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 disclosure for this sale can be found here. Corporate insiders own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SYK. Royal Bank of Canada lifted their price objective on Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Truist Financial lifted their price target on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. JMP Securities restated a “market perform” rating on shares of Stryker in a research note on Tuesday, February 18th. Citigroup reaffirmed a “buy” rating and set a $450.00 target price on shares of Stryker in a research report on Wednesday, February 26th. Finally, Needham & Company LLC restated a “buy” rating and issued a $442.00 price target on shares of Stryker in a research report on Friday, March 21st. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Stryker has an average rating of “Moderate Buy” and an average target price of $421.90.

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.