Bath Savings Trust Co Raises Stake in Stryker Corporation (SYK)
Bath Savings Trust Co raised its stake in Stryker Corporation (NYSE:SYK) by 5.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 71,879 shares of the medical technology company’s stock after buying an additional 3,458 shares during the period. Stryker Corporation comprises about 2.8% of Bath Savings Trust Co’s portfolio, making the stock its 9th largest position. Bath Savings Trust Co’s holdings in Stryker Corporation were worth $9,975,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of SYK. Bollard Group LLC increased its stake in shares of Stryker Corporation by 0.4% in the first quarter. Bollard Group LLC now owns 829 shares of the medical technology company’s stock valued at $109,000 after buying an additional 3 shares during the last quarter. Baystate Wealth Management LLC increased its stake in shares of Stryker Corporation by 2.1% in the first quarter. Baystate Wealth Management LLC now owns 1,066 shares of the medical technology company’s stock valued at $139,000 after buying an additional 22 shares during the last quarter. Guardian Life Insurance Co. of America increased its stake in shares of Stryker Corporation by 0.8% in the first quarter. Guardian Life Insurance Co. of America now owns 1,199 shares of the medical technology company’s stock valued at $158,000 after buying an additional 9 shares during the last quarter. Assetmark Inc. increased its stake in shares of Stryker Corporation by 0.3% in the first quarter. Assetmark Inc. now owns 1,274 shares of the medical technology company’s stock valued at $168,000 after buying an additional 4 shares during the last quarter. Finally, Mosaic Family Wealth LLC increased its stake in shares of Stryker Corporation by 3.5% in the first quarter. Mosaic Family Wealth LLC now owns 1,300 shares of the medical technology company’s stock valued at $171,000 after buying an additional 44 shares during the last quarter. 73.79% of the stock is owned by institutional investors.
Stryker Corporation (NYSE SYK) traded up 0.61% during midday trading on Tuesday, hitting $146.89. The stock had a trading volume of 249,039 shares. Stryker Corporation has a 52-week low of $106.48 and a 52-week high of $148.84. The company’s 50 day moving average price is $143.85 and its 200-day moving average price is $135.90. The stock has a market cap of $54.95 billion, a PE ratio of 32.79 and a beta of 0.80.
Stryker Corporation (NYSE:SYK) last released its quarterly earnings results on Thursday, July 27th. The medical technology company reported $1.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.02. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.98 billion. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.39 EPS. Analysts forecast that Stryker Corporation will post $6.50 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Thursday, September 28th. Stryker Corporation’s payout ratio is 37.95%.
Several analysts have weighed in on SYK shares. BMO Capital Markets reiterated a “hold” rating and issued a $140.00 price objective on shares of Stryker Corporation in a research report on Tuesday, July 11th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Stryker Corporation in a research report on Monday, June 19th. Citigroup Inc. boosted their price objective on Stryker Corporation from $114.00 to $125.00 and gave the company a “sell” rating in a research report on Friday, June 9th. Cantor Fitzgerald started coverage on Stryker Corporation in a research report on Thursday, June 29th. They issued a “neutral” rating and a $153.00 price objective for the company. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $160.00 price objective (up previously from $155.00) on shares of Stryker Corporation in a research report on Monday, July 10th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $144.03.
In other news, insider Graham A. Mclean sold 1,124 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $146.26, for a total value of $164,396.24. Following the completion of the transaction, the insider now directly owns 8,983 shares of the company’s stock, valued at approximately $1,313,853.58. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider David Floyd sold 7,381 shares of the business’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $144.70, for a total value of $1,068,030.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,810 shares of company stock valued at $4,754,958. Corporate insiders own 7.40% of the company’s stock.
About Stryker Corporation
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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