Harbour Trust & Investment Management Co Purchases 3,160 Shares of Stryker Corporation $SYK

Key Points

• Harbour Trust increased its stake in Stryker by 7.7%, buying 3,160 shares to hold 44,382 shares worth $15.6 million, making SYK about 1.6% of its portfolio and its 17th largest position.
• Director Ronda E. Stryker sold 250,000 shares at an average price of $362.92 (≈$90.73 million), cutting her position by 9.23% though she still owns 2,457,331 shares valued near $891.8 million.
• Stryker beat estimates with Q earnings of $4.47 EPS (vs. $4.40) and $7.17 billion revenue (up 11.4% YoY), and announced a quarterly dividend of $0.88 per share (annualized $3.52, yield 1.1%) payable April 30.

Harbour Trust & Investment Management Co grew its position in Stryker Corporation (NYSE:SYK - Free Report) by 7.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,382 shares of the medical technology company's stock after purchasing an additional 3,160 shares during the period. Stryker comprises about 1.6% of Harbour Trust & Investment Management Co's portfolio, making the stock its 17th largest position. Harbour Trust & Investment Management Co's holdings in Stryker were worth $15,599,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SYK. Czech National Bank increased its stake in Stryker by 3.9% during the 4th quarter. Czech National Bank now owns 90,755 shares of the medical technology company's stock worth $31,898,000 after purchasing an additional 3,366 shares in the last quarter. Davis R M Inc. increased its position in shares of Stryker by 1.8% during the third quarter. Davis R M Inc. now owns 138,732 shares of the medical technology company's stock worth $51,285,000 after acquiring an additional 2,512 shares in the last quarter. Terra Alpha Investments LLC acquired a new stake in shares of Stryker during the third quarter worth $1,216,000. Kepler Cheuvreux Suisse SA bought a new stake in Stryker in the 3rd quarter valued at $27,952,000. Finally, Diversified Trust Co increased its holdings in Stryker by 45.6% during the 3rd quarter. Diversified Trust Co now owns 12,445 shares of the medical technology company's stock worth $4,601,000 after purchasing an additional 3,899 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction dated 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 of the company's stock, valued at $891,814,566.52. This represents a 9.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.60% of the company's stock.

Stryker Trading Up 0.7%

Shares of NYSE:SYK opened at $329.63 on Thursday. Stryker Corporation has a 52-week low of $319.32 and a 52-week high of $404.87. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89. The company has a market capitalization of $126.24 billion, a P/E ratio of 39.24, a price-to-earnings-growth ratio of 1.91 and a beta of 0.92. The company has a 50-day simple moving average of $351.26 and a 200 day simple moving average of $358.80.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $7.12 billion. During the same quarter in the prior year, the company earned $4.01 earnings per share. The business's revenue for the quarter was up 11.4% compared to the same quarter last year. Sell-side analysts forecast that Stryker Corporation will post 14.92 earnings per share for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders 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 1.1%. The ex-dividend date is Tuesday, March 31st. Stryker's dividend payout ratio (DPR) is currently 41.90%.

Analyst Ratings Changes

A number of brokerages recently issued reports on SYK. Needham & Company LLC lifted their target price on Stryker from $448.00 to $454.00 and gave the company a "buy" rating in a research report on Friday, January 30th. Jefferies Financial Group restated a "buy" rating and issued a $465.00 price objective on shares of Stryker in a report on Wednesday, March 4th. Truist Financial dropped their target price on Stryker from $395.00 to $380.00 and set a "hold" rating on the stock in a report on Wednesday, April 15th. Wall Street Zen cut Stryker from a "buy" rating to a "hold" rating in a research report on Saturday, April 18th. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of Stryker in a research report on Tuesday, January 27th. Fifteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, Stryker has a consensus rating of "Moderate Buy" and an average target price of $421.11.

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.

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