Essex Savings Bank Buys 400 Shares of Stryker Corporation (NYSE:SYK)

Essex Savings Bank boosted its stake in shares of Stryker Corporation (NYSE:SYK) by 6.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 6,241 shares of the medical technology company’s stock after buying an additional 400 shares during the period. Essex Savings Bank’s holdings in Stryker were worth $2,323,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SYK. Pegasus Asset Management Inc. raised its stake in shares of Stryker by 4.3% in the first quarter. Pegasus Asset Management Inc. now owns 4,808 shares of the medical technology company’s stock valued at $1,790,000 after acquiring an additional 197 shares during the period. Shepherd Financial Partners LLC grew its holdings in Stryker by 5.8% during the 1st quarter. Shepherd Financial Partners LLC now owns 727 shares of the medical technology company’s stock valued at $271,000 after purchasing an additional 40 shares during the last quarter. CENTRAL TRUST Co raised its position in Stryker by 11.0% in the 1st quarter. CENTRAL TRUST Co now owns 16,452 shares of the medical technology company’s stock worth $6,124,000 after purchasing an additional 1,629 shares during the period. PKO Investment Management Joint Stock Co lifted its stake in Stryker by 73.3% in the first quarter. PKO Investment Management Joint Stock Co now owns 5,200 shares of the medical technology company’s stock worth $1,936,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Insigneo Advisory Services LLC purchased a new position in shares of Stryker during the first quarter valued at approximately $336,000. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of research analyst reports. Roth Mkm raised their price target on Stryker from $405.00 to $456.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Sanford C. Bernstein set a $450.00 target price on Stryker in a research report on Monday, May 5th. Evercore ISI lowered their target price on shares of Stryker from $400.00 to $390.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. The Goldman Sachs Group set a $422.00 price target on shares of Stryker in a research note on Tuesday, March 4th. Finally, JMP Securities reissued a “market perform” rating on shares of Stryker in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $427.30.

Stryker Trading Down 1.0%

SYK opened at $373.36 on Wednesday. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. The firm has a market cap of $142.51 billion, a price-to-earnings ratio of 50.45, a PEG ratio of 2.84 and a beta of 0.91. Stryker Corporation has a 12 month low of $314.93 and a 12 month high of $406.19. The stock has a fifty day moving average price of $373.73 and a 200-day moving average price of $375.54.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.73 by $0.11. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same period in the previous year, the company posted $2.50 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. As a group, equities research analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 annualized dividend and a yield of 0.90%. Stryker’s dividend payout ratio (DPR) is 45.41%.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the sale, the director now owns 3,417,326 shares of the company’s stock, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.20% of the company’s stock.

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.