Penobscot Investment Management Company Inc. Sells 270 Shares of Stryker Co. (NYSE:SYK)

Penobscot Investment Management Company Inc. reduced its holdings in shares of Stryker Co. (NYSE:SYK) by 0.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 41,355 shares of the medical technology company’s stock after selling 270 shares during the period. Stryker comprises 1.4% of Penobscot Investment Management Company Inc.’s portfolio, making the stock its 16th biggest position. Penobscot Investment Management Company Inc.’s holdings in Stryker were worth $14,890,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Stryker during the fourth quarter valued at approximately $25,000. Dunhill Financial LLC raised its position in Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 37 shares in the last quarter. Rakuten Securities Inc. lifted its holdings in shares of Stryker by 618.2% in the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after buying an additional 68 shares during the period. Centricity Wealth Management LLC bought a new position in shares of Stryker during the 4th quarter worth $30,000. Finally, BankPlus Trust Department bought a new stake in shares of Stryker in the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

SYK has been the topic of several recent research reports. The Goldman Sachs Group set a $422.00 target price on shares of Stryker in a report on Tuesday, March 4th. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Citigroup reissued a “buy” rating and issued a $450.00 price objective on shares of Stryker in a research note on Wednesday, February 26th. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. Finally, Royal Bank of Canada increased their target price on shares of Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and sixteen have given 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 $421.90.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the sale, the director now directly owns 3,642,075 shares in the company, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the transaction, the director now owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Stryker Trading Down 0.3 %

Shares of Stryker stock opened at $373.00 on Wednesday. The stock has a market cap of $142.33 billion, a PE ratio of 48.07, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. The firm has a fifty day moving average price of $384.76 and a 200 day moving average price of $374.34. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same period in the previous year, the firm posted $3.46 earnings per share. Equities research analysts predict that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.84 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.90%. Stryker’s dividend payout ratio is presently 43.30%.

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.