Stryker Co. (NYSE:SYK) Shares Sold by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. lessened its stake in shares of Stryker Co. (NYSE:SYK) by 0.6% in the 4th quarter, Holdings Channel reports. The firm owned 41,355 shares of the medical technology company’s stock after selling 270 shares during the period. Stryker accounts for 1.4% of Penobscot Investment Management Company Inc.’s investment portfolio, making the stock its 16th largest holding. Penobscot Investment Management Company Inc.’s holdings in Stryker were worth $14,890,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Swedbank AB grew its holdings in shares of Stryker by 10.9% during the third quarter. Swedbank AB now owns 51,070 shares of the medical technology company’s stock worth $18,450,000 after buying an additional 5,032 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Stryker in the 3rd quarter valued at about $317,000. Independent Advisor Alliance lifted its stake in Stryker by 4.8% in the 3rd quarter. Independent Advisor Alliance now owns 6,824 shares of the medical technology company’s stock worth $2,465,000 after purchasing an additional 312 shares in the last quarter. Brown Brothers Harriman & Co. boosted its holdings in shares of Stryker by 34.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 7,433 shares of the medical technology company’s stock worth $2,685,000 after purchasing an additional 1,912 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Stryker by 3.9% in the third quarter. The Manufacturers Life Insurance Company now owns 1,257,091 shares of the medical technology company’s stock valued at $454,136,000 after purchasing an additional 47,322 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction on Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the sale, the director now directly owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the transaction, the director now directly owns 14,895 shares in the company, valued at $5,705,827.65. This trade represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Barclays boosted their price objective on Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. The Goldman Sachs Group set a $422.00 price objective on shares of Stryker in a report on Tuesday, March 4th. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $370.00 to $445.00 in a research note on Monday, December 2nd. Stifel Nicolaus increased their price target on shares of Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $442.00 price target on shares of Stryker in a research report on Friday, March 21st. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $421.90.

Stryker Stock Down 0.3 %

Shares of SYK opened at $373.00 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The stock has a market capitalization of $142.33 billion, a PE ratio of 48.07, a P/E/G ratio of 2.93 and a beta of 0.95. The company’s 50-day simple moving average is $384.76 and its 200-day simple moving average is $374.34. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period in the previous year, the firm posted $3.46 earnings per share. Analysts forecast that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Monday, March 31st. Stryker’s payout ratio is presently 43.30%.

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.