Stryker Co. (NYSE:SYK) Shares Sold by Eastern Bank

Eastern Bank reduced its position in Stryker Co. (NYSE:SYK) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,350 shares of the medical technology company’s stock after selling 65 shares during the quarter. Eastern Bank’s holdings in Stryker were worth $404,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Keybank National Association OH increased its stake in Stryker by 3.5% during the 3rd quarter. Keybank National Association OH now owns 27,823 shares of the medical technology company’s stock worth $7,603,000 after buying an additional 952 shares during the period. CoreCap Advisors LLC raised its stake in shares of Stryker by 3.9% in the fourth quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock valued at $1,506,000 after acquiring an additional 191 shares in the last quarter. DNB Asset Management AS boosted its holdings in Stryker by 5.7% in the fourth quarter. DNB Asset Management AS now owns 76,413 shares of the medical technology company’s stock valued at $22,883,000 after purchasing an additional 4,143 shares during the period. Hunter Perkins Capital Management LLC grew its stake in Stryker by 50.6% during the 4th quarter. Hunter Perkins Capital Management LLC now owns 9,595 shares of the medical technology company’s stock worth $2,879,000 after purchasing an additional 3,225 shares in the last quarter. Finally, LGT Capital Partners LTD. increased its holdings in Stryker by 24.4% during the 4th quarter. LGT Capital Partners LTD. now owns 434,997 shares of the medical technology company’s stock worth $130,264,000 after purchasing an additional 85,240 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SYK. Canaccord Genuity Group raised Stryker from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $315.00 to $360.00 in a research report on Wednesday, January 31st. Truist Financial raised their price objective on shares of Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a report on Wednesday, January 31st. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 target price for the company in a research note on Wednesday, January 31st. Wells Fargo & Company raised their price target on Stryker from $336.00 to $364.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. Finally, StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $335.27.

Stryker Price Performance

Shares of SYK opened at $349.75 on Tuesday. The company has a market capitalization of $133.07 billion, a price-to-earnings ratio of 42.39, a price-to-earnings-growth ratio of 2.83 and a beta of 0.89. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The firm has a 50-day simple moving average of $349.80 and a 200-day simple moving average of $309.02. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.19. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The company had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.60 billion. During the same period last year, the business posted $3.00 EPS. The company’s revenue was up 11.8% on a year-over-year basis. On average, equities research analysts anticipate that Stryker Co. will post 11.86 earnings per share for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Wednesday, March 27th. Stryker’s dividend payout ratio (DPR) is presently 38.79%.

Insider Activity

In other Stryker news, Director Allan C. Golston sold 3,273 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the transaction, the director now owns 14,242 shares in the company, valued at approximately $4,856,522. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Stryker news, Director Allan C. Golston sold 3,273 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the sale, the director now directly owns 14,242 shares in the company, valued at approximately $4,856,522. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The disclosure for this sale can be found here. Insiders have sold a total of 212,109 shares of company stock valued at $72,845,768 over the last quarter. Corporate insiders own 5.50% of the company’s stock.

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.