Watch Point Trust Co trimmed its position in Stryker Co. (NYSE:SYK) by 2.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,599 shares of the medical technology company’s stock after selling 591 shares during the period. Stryker makes up approximately 2.6% of Watch Point Trust Co’s investment portfolio, making the stock its 8th largest holding. Watch Point Trust Co’s holdings in Stryker were worth $4,888,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Massey Quick Simon & CO. LLC bought a new stake in Stryker during the second quarter worth about $27,000. Ossiam bought a new stake in Stryker during the second quarter worth about $33,000. Garrett Wealth Advisory Group LLC bought a new stake in Stryker during the third quarter worth about $35,000. Stonebridge Capital Advisors LLC bought a new stake in Stryker during the second quarter worth about $39,000. Finally, Webster Bank N. A. raised its holdings in Stryker by 300.0% during the second quarter. Webster Bank N. A. now owns 200 shares of the medical technology company’s stock worth $41,000 after acquiring an additional 150 shares in the last quarter. Institutional investors own 73.13% of the company’s stock.
SYK has been the topic of several analyst reports. Barclays lowered Stryker from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $226.00 to $207.00 in a report on Tuesday, November 5th. Credit Suisse Group upped their price objective on Stryker from $232.00 to $237.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Zacks Investment Research upgraded Stryker from a “hold” rating to a “buy” rating and set a $225.00 price objective on the stock in a research note on Monday, July 29th. Morgan Stanley upped their price objective on Stryker from $218.00 to $230.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Finally, Raymond James set a $240.00 price objective on Stryker and gave the company a “buy” rating in a research note on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $220.17.
In related news, Director Srikant M. Datar sold 350 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $215.00, for a total transaction of $75,250.00. Following the sale, the director now owns 6,844 shares of the company’s stock, valued at $1,471,460. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP M Kathryn Fink sold 28,690 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $220.97, for a total value of $6,339,629.30. The disclosure for this sale can be found here. Insiders sold 67,524 shares of company stock worth $14,731,927 in the last ninety days. 7.20% of the stock is owned by company insiders.
Shares of Stryker stock traded down $1.00 on Friday, hitting $199.78. The stock had a trading volume of 1,281,765 shares, compared to its average volume of 1,230,180. Stryker Co. has a twelve month low of $144.75 and a twelve month high of $223.45. The business’s 50 day moving average is $213.13 and its two-hundred day moving average is $205.63. The company has a quick ratio of 1.35, a current ratio of 2.18 and a debt-to-equity ratio of 0.64. The stock has a market cap of $74.21 billion, a price-to-earnings ratio of 27.33, a price-to-earnings-growth ratio of 2.43 and a beta of 0.80.
Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.90 by $0.01. Stryker had a return on equity of 25.33% and a net margin of 23.55%. The company had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter in the prior year, the business earned $1.69 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, equities analysts predict that Stryker Co. will post 8.23 earnings per share for the current fiscal year.
Stryker Company Profile
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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