Stryker Co. (NYSE:SYK) Shares Sold by Rockland Trust Co.

Rockland Trust Co. reduced its stake in shares of Stryker Co. (NYSE:SYK) by 4.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,925 shares of the medical technology company’s stock after selling 145 shares during the period. Rockland Trust Co.’s holdings in Stryker were worth $1,057,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Centennial Bank AR increased its stake in Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in Stryker in the 1st quarter worth about $39,000. Accent Capital Management LLC acquired a new position in shares of Stryker during the 4th quarter valued at about $60,000. Sachetta LLC lifted its holdings in shares of Stryker by 16.3% during the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after acquiring an additional 34 shares during the period. Finally, Hazlett Burt & Watson Inc. boosted its position in shares of Stryker by 17.9% in the first quarter. Hazlett Burt & Watson Inc. now owns 264 shares of the medical technology company’s stock worth $94,000 after acquiring an additional 40 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Morgan Stanley boosted their price objective on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Stifel Nicolaus decreased their target price on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday. Truist Financial dropped their price target on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Finally, BTIG Research raised their price target on shares of Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $379.37.

Stryker Price Performance

NYSE SYK traded down $0.39 on Friday, hitting $351.22. 676,931 shares of the company’s stock were exchanged, compared to its average volume of 1,270,464. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $374.63. The stock has a 50-day moving average of $349.77 and a 200-day moving average of $343.16. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The stock has a market cap of $133.80 billion, a price-to-earnings ratio of 40.09, a P/E/G ratio of 2.74 and a beta of 0.91.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the previous year, the company posted $2.54 EPS. Stryker’s quarterly revenue was up 8.5% compared to the same quarter last year. Analysts expect that Stryker Co. will post 12 earnings per share for the current year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the sale, the vice president now owns 10,042 shares in the company, valued at $3,685,213.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the sale, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock valued at $71,811,372 over the last quarter. Insiders own 5.90% of the company’s stock.

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.