Watch Point Trust Co Lowers Stake in Stryker Co. (SYK)

Watch Point Trust Co cut its stake in Stryker Co. (NYSE:SYK) by 6.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,648 shares of the medical technology company’s stock after selling 1,865 shares during the period. Stryker accounts for approximately 3.3% of Watch Point Trust Co’s holdings, making the stock its 4th largest position. Watch Point Trust Co’s holdings in Stryker were worth $3,509,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SYK. Independent Advisor Alliance purchased a new position in shares of Stryker during the fourth quarter valued at about $107,000. FUKOKU MUTUAL LIFE INSURANCE Co purchased a new position in shares of Stryker during the fourth quarter valued at about $108,000. Salem Investment Counselors Inc. purchased a new position in shares of Stryker during the third quarter valued at about $116,000. TLP Group LLC purchased a new position in shares of Stryker during the third quarter valued at about $127,000. Finally, Mosaic Family Wealth LLC boosted its position in shares of Stryker by 10.4% in the third quarter. Mosaic Family Wealth LLC now owns 1,256 shares of the medical technology company’s stock valued at $146,000 after buying an additional 118 shares during the last quarter. 75.29% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Stryker (NYSE:SYK)

Shares of Stryker Co. (NYSE:SYK) traded down 0.13% during trading on Friday, hitting $132.59. The stock had a trading volume of 247,185 shares. The company has a market cap of $49.44 billion, a PE ratio of 30.48 and a beta of 0.80. The stock’s 50 day moving average is $131.28 and its 200-day moving average is $121.62. Stryker Co. has a 12-month low of $106.48 and a 12-month high of $133.59.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, January 24th. The medical technology company reported $1.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.76 by $0.02. The firm earned $3.20 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Stryker had a net margin of 14.54% and a return on equity of 23.86%. Stryker’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.56 earnings per share. Analysts forecast that Stryker Co. will post $6.41 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, March 31st will be issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Wednesday, March 29th. Stryker’s dividend payout ratio is presently 39.08%.

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SYK has been the subject of several research analyst reports. Oppenheimer Holdings Inc. set a $122.00 price objective on Stryker and gave the stock a “hold” rating in a research note on Wednesday, January 25th. Wells Fargo & Co restated an “outperform” rating and issued a $134.50 price objective on shares of Stryker in a research note on Saturday, January 28th. Royal Bank of Canada reiterated a “buy” rating and set a $129.00 price target on shares of Stryker in a research report on Friday, January 6th. Barclays PLC lifted their price target on Stryker from $120.00 to $122.00 and gave the company an “underweight” rating in a research report on Wednesday, January 25th. Finally, Canaccord Genuity lifted their price target on Stryker from $127.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, January 23rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $131.58.

In other Stryker news, VP Yin C. Becker sold 4,398 shares of the company’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $125.27, for a total transaction of $550,937.46. Following the completion of the sale, the vice president now directly owns 12,541 shares in the company, valued at $1,571,011.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Louise Francesconi sold 3,716 shares of the company’s stock in a transaction dated Monday, January 30th. The shares were sold at an average price of $122.34, for a total transaction of $454,615.44. Following the sale, the director now owns 20,242 shares of the company’s stock, valued at $2,476,406.28. The disclosure for this sale can be found here. 7.80% of the stock is owned by corporate insiders.

About Stryker

Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.

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