Rockland Trust Co. Lowers Stock Holdings in Stryker Co. (NYSE:SYK)

Rockland Trust Co. trimmed its stake in Stryker Co. (NYSE:SYK) by 2.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,685 shares of the medical technology company’s stock after selling 150 shares during the period. Rockland Trust Co.’s holdings in Stryker were worth $1,212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Massey Quick Simon & CO. LLC bought a new position in shares of Stryker during the 2nd quarter worth approximately $27,000. Ossiam acquired a new position in Stryker during the 2nd quarter valued at approximately $33,000. Stonebridge Capital Advisors LLC acquired a new position in Stryker during the 2nd quarter valued at approximately $39,000. Webster Bank N. A. increased its stake in Stryker by 300.0% during the 2nd quarter. Webster Bank N. A. now owns 200 shares of the medical technology company’s stock valued at $41,000 after purchasing an additional 150 shares in the last quarter. Finally, Westside Investment Management Inc. acquired a new position in Stryker during the 2nd quarter valued at approximately $47,000. 72.95% of the stock is owned by institutional investors.

In other news, Director Srikant M. Datar sold 350 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $215.00, for a total value of $75,250.00. Following the transaction, the director now owns 6,844 shares in the company, valued at approximately $1,471,460. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP M Kathryn Fink sold 28,690 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $220.97, for a total value of $6,339,629.30. The disclosure for this sale can be found here. Insiders have sold 51,637 shares of company stock valued at $11,240,206 over the last ninety days. 7.20% of the stock is owned by insiders.

A number of brokerages have issued reports on SYK. Wells Fargo & Co upped their price target on shares of Stryker from $219.00 to $228.00 and gave the company an “outperform” rating in a research note on Tuesday, July 2nd. Royal Bank of Canada set a $220.00 price objective on shares of Stryker and gave the stock a “buy” rating in a research note on Friday, July 26th. Raymond James set a $240.00 price objective on shares of Stryker and gave the stock a “buy” rating in a research note on Friday, July 26th. Barclays set a $226.00 price objective on shares of Stryker and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Zacks Investment Research upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $225.00 price objective on the stock in a research note on Monday, July 29th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $214.89.

NYSE SYK opened at $213.81 on Friday. Stryker Co. has a 12 month low of $144.75 and a 12 month high of $223.45. The company has a 50-day moving average of $216.98 and a 200-day moving average of $203.00. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.07 and a quick ratio of 1.26. The company has a market cap of $78.89 billion, a P/E ratio of 29.25, a P/E/G ratio of 2.56 and a beta of 0.81.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, July 25th. The medical technology company reported $1.98 EPS for the quarter, beating the Zacks’ consensus estimate of $1.93 by $0.05. The company had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.60 billion. Stryker had a net margin of 24.99% and a return on equity of 25.98%. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.76 EPS. As a group, equities research analysts anticipate that Stryker Co. will post 8.21 EPS for the current year.

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 $0.52 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.08 annualized dividend and a dividend yield of 0.97%. Stryker’s dividend payout ratio is currently 28.45%.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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