Penobscot Investment Management Company Inc. Acquires 2,821 Shares of Stryker Corporation $SYK

Penobscot Investment Management Company Inc. boosted its holdings in Stryker Corporation (NYSE:SYK) by 6.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,187 shares of the medical technology company’s stock after acquiring an additional 2,821 shares during the period. Stryker accounts for 1.2% of Penobscot Investment Management Company Inc.’s holdings, making the stock its 19th biggest position. Penobscot Investment Management Company Inc.’s holdings in Stryker were worth $15,882,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC increased its position in Stryker by 1.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,904 shares of the medical technology company’s stock worth $704,000 after buying an additional 27 shares during the period. Wolff Wiese Magana LLC increased its position in Stryker by 2.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 1,271 shares of the medical technology company’s stock worth $470,000 after buying an additional 28 shares during the period. Lantz Financial LLC increased its position in Stryker by 5.0% during the 3rd quarter. Lantz Financial LLC now owns 608 shares of the medical technology company’s stock worth $225,000 after buying an additional 29 shares during the period. Stonebridge Capital Advisors LLC increased its position in Stryker by 0.4% during the 3rd quarter. Stonebridge Capital Advisors LLC now owns 7,198 shares of the medical technology company’s stock worth $2,661,000 after buying an additional 29 shares during the period. Finally, Tcfg Wealth Management LLC increased its position in Stryker by 2.7% during the 3rd quarter. Tcfg Wealth Management LLC now owns 1,091 shares of the medical technology company’s stock worth $403,000 after buying an additional 29 shares during the period. Institutional investors own 77.09% of the company’s stock.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 250,000 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the sale, the director directly owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. This trade represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on SYK shares. Wall Street Zen cut Stryker from a “buy” rating to a “hold” rating in a research report on Saturday. Evercore set a $390.00 price objective on Stryker in a research report on Monday, January 5th. The Goldman Sachs Group lowered their price objective on Stryker from $403.00 to $357.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. Robert W. Baird set a $437.00 price objective on Stryker in a research report on Friday, January 30th. Finally, William Blair reiterated an “outperform” rating on shares of Stryker in a research report on Thursday, March 5th. Fifteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $421.11.

Stryker Stock Performance

NYSE:SYK opened at $327.63 on Wednesday. The stock’s 50-day simple moving average is $351.94 and its 200 day simple moving average is $359.01. The firm has a market capitalization of $125.48 billion, a PE ratio of 39.00, a price-to-earnings-growth ratio of 1.98 and a beta of 0.92. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66. Stryker Corporation has a twelve month low of $319.32 and a twelve month high of $404.87.

Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, beating the consensus estimate of $4.40 by $0.07. The business had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.12 billion. Stryker had a return on equity of 24.41% and a net margin of 12.92%.Stryker’s revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $4.01 earnings per share. On average, analysts anticipate that Stryker Corporation will post 14.92 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.52 annualized dividend and a yield of 1.1%. Stryker’s dividend payout ratio (DPR) is 41.90%.

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.