New Hampshire Trust Cuts Stock Holdings in Stryker Co. (NYSE:SYK)

New Hampshire Trust lessened its holdings in Stryker Co. (NYSE:SYK) by 4.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,415 shares of the medical technology company’s stock after selling 65 shares during the period. New Hampshire Trust’s holdings in Stryker were worth $509,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parnassus Investments LLC bought a new stake in Stryker during the 3rd quarter valued at $762,798,000. International Assets Investment Management LLC boosted its position in Stryker by 66,967.5% during the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after purchasing an additional 852,496 shares in the last quarter. RTW Investments LP bought a new position in Stryker in the third quarter worth about $143,392,000. State Street Corp lifted its position in shares of Stryker by 2.2% during the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after buying an additional 316,404 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Stryker by 3.0% in the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after buying an additional 215,782 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SYK shares. Piper Sandler reissued an “overweight” rating and set a $420.00 target price (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and issued a $442.00 price objective on shares of Stryker in a research report on Tuesday, January 7th. Robert W. Baird upped their target price on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Truist Financial raised their price target on Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Finally, Wells Fargo & Company upped their price objective on shares of Stryker from $405.00 to $427.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $405.80.

Insiders Place Their Bets

In other news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.50% of the company’s stock.

Stryker Stock Performance

Shares of SYK stock opened at $383.91 on Tuesday. The stock has a market cap of $146.35 billion, a PE ratio of 41.15, a price-to-earnings-growth ratio of 2.63 and a beta of 0.95. Stryker Co. has a 52-week low of $307.23 and a 52-week high of $398.20. The business has a 50-day simple moving average of $375.51 and a 200-day simple moving average of $359.17. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

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

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued 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 0.88%. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s dividend payout ratio is presently 36.01%.

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.