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

Legacy Private Trust Co. reduced its position in Stryker Co. (NYSE:SYK) by 7.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,434 shares of the medical technology company’s stock after selling 108 shares during the quarter. Legacy Private Trust Co.’s holdings in Stryker were worth $516,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SYK. Parnassus Investments LLC purchased a new position in Stryker during the 3rd quarter worth $762,798,000. Baltimore Washington Financial Advisors Inc. grew its holdings in shares of Stryker by 2.4% during the third quarter. Baltimore Washington Financial Advisors Inc. now owns 66,681 shares of the medical technology company’s stock worth $24,089,000 after buying an additional 1,554 shares during the last quarter. Sivik Global Healthcare LLC increased its position in Stryker by 8.0% in the 3rd quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company’s stock valued at $9,754,000 after acquiring an additional 2,000 shares during the period. Envestnet Asset Management Inc. raised its stake in Stryker by 2.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company’s stock valued at $210,289,000 after acquiring an additional 16,504 shares during the last quarter. Finally, World Investment Advisors LLC lifted its position in Stryker by 126.1% during the 3rd quarter. World Investment Advisors LLC now owns 8,142 shares of the medical technology company’s stock worth $2,941,000 after acquiring an additional 4,541 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Price Performance

SYK stock opened at $364.19 on Thursday. The stock’s 50 day moving average price is $375.26 and its 200 day moving average price is $357.47. The firm has a market cap of $138.84 billion, a P/E ratio of 39.03, a PEG ratio of 2.82 and a beta of 0.95. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. Stryker Co. has a 1 year low of $298.52 and a 1 year high of $398.20.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter last year, the business posted $2.46 EPS. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, sell-side analysts expect that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.84 dividend. This is a boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.92%. The ex-dividend date is Tuesday, December 31st. Stryker’s payout ratio is presently 36.01%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $370.00 to $445.00 in a research note on Monday, December 2nd. Needham & Company LLC restated a “buy” rating and set a $442.00 price objective on shares of Stryker in a research report on Tuesday. UBS Group lifted their target price on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Wells Fargo & Company increased their price target on shares of Stryker from $405.00 to $427.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Barclays raised their price objective on shares of Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average price target of $405.80.

Insider Buying and Selling at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 5.50% of the stock is currently owned by insiders.

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.