Private Trust Co. NA Buys 659 Shares of Stryker Corporation (NYSE:SYK)

Private Trust Co. NA lifted its position in Stryker Corporation (NYSE:SYK - Free Report) by 9.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 7,893 shares of the medical technology company's stock after purchasing an additional 659 shares during the period. Private Trust Co. NA's holdings in Stryker were worth $2,938,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in SYK. Elefante Mark B bought a new stake in Stryker in the 4th quarter worth $337,000. Mogy Joel R Investment Counsel Inc. grew its stake in shares of Stryker by 3.4% in the first quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company's stock worth $36,561,000 after purchasing an additional 3,218 shares during the last quarter. Ferguson Wellman Capital Management Inc. grew its stake in shares of Stryker by 1.9% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock worth $65,096,000 after purchasing an additional 3,341 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Stryker in the first quarter worth about $1,840,000. Finally, Fred Alger Management LLC grew its stake in shares of Stryker by 415.8% in the fourth quarter. Fred Alger Management LLC now owns 24,011 shares of the medical technology company's stock worth $8,664,000 after purchasing an additional 19,356 shares during the last quarter. Institutional investors own 77.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Roth Mkm lifted their price objective on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Wall Street Zen cut shares of Stryker from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Citigroup reiterated a "buy" rating and issued a $455.00 price target (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a research note on Monday, May 5th. Finally, Evercore ISI cut their target price on shares of Stryker from $400.00 to $390.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $427.30.

Insider Activity

In related news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the transaction, the director directly owned 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.90% of the company's stock.

Stryker Trading Down 1.2%

Stryker stock opened at $391.98 on Thursday. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. The business's fifty day simple moving average is $381.77 and its two-hundred day simple moving average is $375.85. Stryker Corporation has a 12 month low of $314.93 and a 12 month high of $406.19. The company has a market capitalization of $149.61 billion, a price-to-earnings ratio of 52.97, a price-to-earnings-growth ratio of 2.99 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.73 by $0.11. The company had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.68 billion. Stryker had a net margin of 12.31% and a return on equity of 23.74%. Stryker's revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.50 EPS. As a group, equities analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. Stryker's dividend payout ratio is presently 45.41%.

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.

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