HM Payson & Co. Raises Stake in Stryker Co. (NYSE:SYK)

HM Payson & Co. lifted its stake in Stryker Co. (NYSE:SYK) by 1.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,057 shares of the medical technology company’s stock after purchasing an additional 186 shares during the period. HM Payson & Co.’s holdings in Stryker were worth $4,717,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Centennial Bank AR increased its position in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after buying an additional 48 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Stryker during the 1st quarter worth approximately $39,000. HBW Advisory Services LLC purchased a new stake in Stryker in the 3rd quarter valued at approximately $42,000. Grove Bank & Trust grew its holdings in Stryker by 84.8% during the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after buying an additional 56 shares during the last quarter. Finally, DT Investment Partners LLC increased its position in Stryker by 114.3% during the third quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock worth $49,000 after buying an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In related news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the transaction, the chief financial officer now owns 2,852 shares in the company, valued at $949,716. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 220,068 shares of company stock valued at $71,811,372. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Performance

SYK traded down $1.52 during trading hours on Thursday, hitting $361.91. The company’s stock had a trading volume of 114,938 shares, compared to its average volume of 1,249,866. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. Stryker Co. has a fifty-two week low of $264.85 and a fifty-two week high of $374.63. The company has a 50-day simple moving average of $359.79 and a 200 day simple moving average of $343.98. The firm has a market capitalization of $137.87 billion, a PE ratio of 41.49, a PEG ratio of 2.73 and a beta of 0.91.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.78 by $0.09. The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. Stryker’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.46 EPS. As a group, sell-side analysts expect that Stryker Co. will post 12 EPS for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s payout ratio is 36.53%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SYK. Needham & Company LLC boosted their price objective on shares of Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research report on Wednesday. Truist Financial increased their price target on Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research note on Wednesday. Royal Bank of Canada lifted their price objective on Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday. Morgan Stanley increased their target price on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Finally, Robert W. Baird boosted their target price on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $392.60.

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 total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.