Stryker Co. (NYSE:SYK) is Bath Savings Trust Co’s 4th Largest Position

Bath Savings Trust Co lifted its stake in shares of Stryker Co. (NYSE:SYK) by 0.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 113,747 shares of the medical technology company’s stock after purchasing an additional 409 shares during the period. Stryker accounts for 4.1% of Bath Savings Trust Co’s investment portfolio, making the stock its 4th biggest holding. Bath Savings Trust Co’s holdings in Stryker were worth $34,703,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Quarry LP purchased a new position in Stryker in the 1st quarter valued at approximately $27,000. Freedom Wealth Alliance LLC bought a new position in Stryker in the 4th quarter valued at $26,000. Altshuler Shaham Ltd bought a new position in Stryker in the 1st quarter valued at $33,000. HBW Advisory Services LLC bought a new position in Stryker in the 2nd quarter valued at $35,000. Finally, Cascade Investment Advisors Inc. bought a new position in Stryker in the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 76.24% of the company’s stock.

Insider Activity

In other news, insider Viju Menon sold 5,000 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $289.00, for a total transaction of $1,445,000.00. Following the sale, the insider now owns 6,994 shares in the company, valued at $2,021,266. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 5.90% of the company’s stock.

Stryker Trading Up 0.5 %

SYK stock traded up $1.48 during trading on Monday, reaching $294.25. The company had a trading volume of 358,923 shares, compared to its average volume of 1,296,447. Stryker Co. has a 52 week low of $200.80 and a 52 week high of $306.93. The company has a market cap of $111.75 billion, a P/E ratio of 41.35, a PEG ratio of 2.85 and a beta of 0.95. The business has a 50 day moving average of $286.90 and a 200 day moving average of $285.91. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 0.84.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, August 3rd. The medical technology company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.16. Stryker had a net margin of 13.92% and a return on equity of 22.31%. The business had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter last year, the firm earned $2.25 earnings per share. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, sell-side analysts forecast that Stryker Co. will post 10.37 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, September 28th. Stryker’s payout ratio is 42.37%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Morgan Stanley raised their price target on shares of Stryker from $295.00 to $300.00 and gave the company an “equal weight” rating in a report on Monday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $325.00 price objective on shares of Stryker in a report on Thursday, August 17th. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a report on Friday, September 8th. BTIG Research lifted their price objective on shares of Stryker from $313.00 to $331.00 in a report on Monday, July 17th. Finally, Bank of America raised shares of Stryker from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $310.00 to $315.00 in a report on Tuesday, September 5th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $309.59.

Stryker 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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.