Bangor Savings Bank Has $2.29 Million Holdings in Stryker Co. (NYSE:SYK)

Bangor Savings Bank lowered its stake in Stryker Co. (NYSE:SYK) by 3.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,371 shares of the medical technology company’s stock after selling 234 shares during the quarter. Bangor Savings Bank’s holdings in Stryker were worth $2,294,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SYK. Dunhill Financial LLC raised its stake in shares of Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 37 shares in the last quarter. Centennial Bank AR grew its holdings in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares during the last quarter. Darwin Wealth Management LLC bought a new position in shares of Stryker in the third quarter valued at approximately $36,000. HBW Advisory Services LLC bought a new stake in shares of Stryker during the 3rd quarter worth $42,000. Finally, Hara Capital LLC acquired a new position in Stryker in the 3rd quarter valued at $42,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Trading Down 0.2 %

SYK stock opened at $360.93 on Tuesday. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The firm has a market cap of $137.59 billion, a P/E ratio of 38.68, a P/E/G ratio of 2.82 and a beta of 0.95. Stryker Co. has a 1-year low of $294.34 and a 1-year high of $398.20. The business’s 50 day moving average is $375.33 and its 200-day moving average is $357.33.

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

Stryker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.84 dividend. The ex-dividend date is Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a yield of 0.93%. Stryker’s payout ratio is 36.01%.

Insiders Place Their Bets

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Barclays increased their target price on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Truist Financial lifted their price target on Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Robert W. Baird increased their price objective on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $442.00 target price on shares of Stryker in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $405.80.

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.