Harbour Trust & Investment Management Co Takes $12.19 Million Position in Stryker Co. (NYSE:SYK)

Harbour Trust & Investment Management Co bought a new position in shares of Stryker Co. (NYSE:SYK - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 40,710 shares of the medical technology company's stock, valued at approximately $12,191,000. Stryker makes up 1.7% of Harbour Trust & Investment Management Co's investment portfolio, making the stock its 16th biggest position.

Several other institutional investors have also recently made changes to their positions in the business. Optas LLC purchased a new position in Stryker during the 4th quarter valued at approximately $201,000. Segment Wealth Management LLC grew its holdings in Stryker by 3.8% during the 4th quarter. Segment Wealth Management LLC now owns 48,920 shares of the medical technology company's stock valued at $14,650,000 after buying an additional 1,784 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in Stryker by 120.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 10,126 shares of the medical technology company's stock valued at $3,032,000 after buying an additional 5,541 shares in the last quarter. Tobam grew its holdings in Stryker by 15.5% during the 4th quarter. Tobam now owns 1,973 shares of the medical technology company's stock valued at $591,000 after buying an additional 265 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in Stryker during the 4th quarter valued at approximately $178,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on SYK. Wells Fargo & Company raised their price target on Stryker from $336.00 to $364.00 and gave the company an "overweight" rating in a report on Wednesday, January 31st. Canaccord Genuity Group upgraded Stryker from a "hold" rating to a "buy" rating and set a $360.00 price target for the company in a report on Wednesday, January 31st. Evercore ISI lifted their target price on Stryker from $340.00 to $370.00 and gave the stock an "outperform" rating in a report on Thursday, April 4th. Truist Financial lifted their target price on Stryker from $330.00 to $345.00 and gave the stock a "hold" rating in a report on Wednesday, January 31st. Finally, Roth Mkm lifted their target price on Stryker from $345.00 to $348.00 and gave the stock a "buy" rating in a report on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Stryker currently has an average rating of "Moderate Buy" and a consensus target price of $335.27.

Stryker Trading Up 0.3 %

Shares of SYK stock traded up $1.11 on Tuesday, reaching $350.86. 946,422 shares of the company's stock were exchanged, compared to its average volume of 1,275,822. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $361.41. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $133.49 billion, a PE ratio of 42.53, a P/E/G ratio of 2.83 and a beta of 0.89. The company's fifty day simple moving average is $350.48 and its 200 day simple moving average is $309.48.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.27 by $0.19. The firm had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. Stryker's quarterly revenue was up 11.8% compared to the same quarter last year. During the same period last year, the company earned $3.00 EPS. As a group, analysts forecast that Stryker Co. will post 11.86 EPS for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Wednesday, March 27th. Stryker's dividend payout ratio (DPR) is presently 38.79%.

Insider Buying and Selling at Stryker

In other Stryker news, Director Allan C. Golston sold 3,273 shares of Stryker stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the completion of the sale, the director now directly owns 14,242 shares of the company's stock, valued at approximately $4,856,522. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Allan C. Golston sold 3,273 shares of the business's stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following the completion of the transaction, the director now directly owns 14,242 shares of the company's stock, valued at approximately $4,856,522. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 201,146 shares of the business's stock in a transaction on Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the transaction, the director now directly owns 3,755,128 shares of the company's stock, valued at $1,287,633,391.20. The disclosure for this sale can be found here. Insiders sold a total of 212,109 shares of company stock valued at $72,845,768 in the last ninety days. Corporate insiders own 5.50% of the company's stock.

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.