Coastline Trust Co Has $706,000 Stake in Stryker Corporation $SYK

Coastline Trust Co grew its position in Stryker Corporation (NYSE:SYK) by 292.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,008 shares of the medical technology company’s stock after acquiring an additional 1,496 shares during the period. Coastline Trust Co’s holdings in Stryker were worth $706,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of SYK. Norges Bank acquired a new stake in Stryker during the 2nd quarter valued at $1,882,173,000. Alliancebernstein L.P. boosted its stake in Stryker by 307.6% in the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after purchasing an additional 4,223,366 shares in the last quarter. Corient Private Wealth LLC boosted its stake in Stryker by 104.4% in the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock worth $887,525,000 after purchasing an additional 1,146,998 shares in the last quarter. Strive Asset Management LLC bought a new stake in shares of Stryker during the third quarter worth $227,389,000. Finally, Credit Agricole S A bought a new stake in shares of Stryker during the third quarter worth $194,045,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Trading Down 1.7%

Shares of SYK opened at $339.97 on Friday. The stock’s fifty day simple moving average is $363.89 and its 200-day simple moving average is $366.43. The firm has a market capitalization of $130.10 billion, a PE ratio of 40.47, a price-to-earnings-growth ratio of 2.02 and a beta of 0.85. Stryker Corporation has a 12-month low of $328.23 and a 12-month high of $404.87. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, topping analysts’ consensus estimates of $4.40 by $0.07. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The firm had revenue of $7.17 billion during the quarter, compared to analyst estimates of $7.12 billion. During the same period last year, the company earned $4.01 earnings per share. The company’s revenue was up 11.4% on a year-over-year basis. As a group, research analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, March 31st. Stryker’s payout ratio is 41.90%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. BTIG Research lifted their price target on Stryker from $410.00 to $412.00 and gave the company a “buy” rating in a report on Friday, January 30th. William Blair restated an “outperform” rating on shares of Stryker in a research report on Thursday, March 5th. Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Raymond James Financial upgraded shares of Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 target price on the stock in a research report on Tuesday, January 6th. Finally, Citizens Jmp raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price target on the stock in a research note on Friday, December 19th. Fourteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $427.50.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total value of $90,730,000.00. Following the transaction, the director directly owned 2,457,331 shares in the company, valued at $891,814,566.52. This represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 5.90% of the stock is owned by corporate insiders.

Stryker Company Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.