Stryker Co. (NYSE:SYK) Shares Sold by Bank of Stockton

Bank of Stockton trimmed its position in shares of Stryker Co. (NYSE:SYK) by 6.6% during the third quarter, Holdings Channel reports. The firm owned 4,896 shares of the medical technology company’s stock after selling 347 shares during the quarter. Bank of Stockton’s holdings in Stryker were worth $1,769,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SYK. Tandem Capital Management Corp ADV grew its position in shares of Stryker by 1.3% in the third quarter. Tandem Capital Management Corp ADV now owns 16,390 shares of the medical technology company’s stock valued at $5,865,000 after purchasing an additional 213 shares during the last quarter. West Michigan Advisors LLC lifted its stake in Stryker by 2.2% in the 3rd quarter. West Michigan Advisors LLC now owns 8,573 shares of the medical technology company’s stock valued at $3,104,000 after buying an additional 183 shares in the last quarter. Harbour Trust & Investment Management Co lifted its stake in Stryker by 1.8% in the 3rd quarter. Harbour Trust & Investment Management Co now owns 42,347 shares of the medical technology company’s stock valued at $15,298,000 after buying an additional 736 shares in the last quarter. Nicholson Wealth Management Group LLC acquired a new stake in Stryker during the 3rd quarter valued at $993,000. Finally, Eagle Ridge Investment Management increased its position in Stryker by 0.5% during the third quarter. Eagle Ridge Investment Management now owns 87,373 shares of the medical technology company’s stock worth $31,564,000 after buying an additional 397 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Stock Down 1.0 %

Stryker stock traded down $3.76 during trading on Friday, reaching $356.14. 285,849 shares of the company’s stock were exchanged, compared to its average volume of 1,243,121. The company’s 50-day moving average is $357.99 and its two-hundred day moving average is $343.59. The firm has a market cap of $135.67 billion, a price-to-earnings ratio of 41.08, a PEG ratio of 2.83 and a beta of 0.91. Stryker Co. has a 52-week low of $255.22 and a 52-week high of $374.63. 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 posted 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. The business had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.54 earnings per share. On average, analysts predict that Stryker Co. will post 12 earnings per share for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a $0.80 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.90%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SYK shares. UBS Group increased their price objective on Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Stifel Nicolaus decreased their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Royal Bank of Canada reissued an “outperform” rating and set a $386.00 price objective on shares of Stryker in a research note on Wednesday, July 31st. Barclays raised their target price on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Evercore ISI boosted their price target on Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $381.16.

Insider Activity at Stryker

In other Stryker news, insider Viju Menon sold 600 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now owns 9,069 shares in the company, valued at $3,219,495. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Viju Menon sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 220,068 shares of company stock valued at $71,811,372. Corporate insiders own 5.90% of the company’s stock.

About Stryker

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.