Perkins Coie Trust Co Lowers Stake in Stryker Co. (NYSE:SYK)

Perkins Coie Trust Co lessened its position in Stryker Co. (NYSE:SYK) by 0.9% in the 3rd quarter, Holdings Channel reports. The fund owned 11,577 shares of the medical technology company’s stock after selling 105 shares during the period. Perkins Coie Trust Co’s holdings in Stryker were worth $4,182,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Centennial Bank AR lifted its stake in shares of Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 48 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of Stryker in the first quarter valued at about $39,000. HBW Advisory Services LLC acquired a new stake in shares of Stryker in the third quarter valued at about $42,000. Accent Capital Management LLC acquired a new stake in shares of Stryker in the fourth quarter valued at about $60,000. Finally, Sachetta LLC lifted its stake in shares of Stryker by 16.3% in the second quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock valued at $80,000 after purchasing an additional 34 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on SYK. UBS Group raised their price objective on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Barclays raised their price objective on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Needham & Company LLC lifted their target price on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. Finally, Stifel Nicolaus cut 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. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $379.37.

Stryker Trading Up 0.0 %

Stryker stock traded up $0.10 during trading on Wednesday, reaching $350.89. The company had a trading volume of 51,362 shares, compared to its average volume of 1,261,536. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $374.63. The stock’s 50 day moving average price is $350.43 and its two-hundred day moving average price is $342.92. The firm has a market capitalization of $133.67 billion, a price-to-earnings ratio of 40.05, a PEG ratio of 2.71 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the previous year, the firm earned $2.54 earnings per share. Stryker’s revenue was up 8.5% compared to the same quarter last year. As a group, equities analysts expect that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Dividend Announcement

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

Insider Buying and Selling at Stryker

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at $3,685,213.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock valued at $71,811,372 over the last ninety days. Corporate 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.