Stryker Co. (NYSE:SYK) Shares Purchased by Eastern Bank

Eastern Bank grew its stake in Stryker Co. (NYSE:SYK) by 313.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,730 shares of the medical technology company’s stock after acquiring an additional 2,828 shares during the quarter. Eastern Bank’s holdings in Stryker were worth $1,347,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the company. Proficio Capital Partners LLC increased its position in shares of Stryker by 2.4% in the first quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock worth $507,000 after acquiring an additional 33 shares in the last quarter. Versant Capital Management Inc increased its stake in Stryker by 4.0% during the 2nd quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock worth $294,000 after buying an additional 33 shares during the period. Stanley Laman Group Ltd. lifted its holdings in Stryker by 4.6% in the 2nd quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after buying an additional 33 shares in the last quarter. Plimoth Trust Co. LLC boosted its position in Stryker by 0.3% in the 2nd quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock valued at $3,224,000 after buying an additional 33 shares during the last quarter. Finally, Manchester Capital Management LLC grew its stake in shares of Stryker by 1.4% during the first quarter. Manchester Capital Management LLC now owns 2,474 shares of the medical technology company’s stock valued at $885,000 after acquiring an additional 34 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the sale, the chief financial officer now owns 2,852 shares of the company’s stock, valued at approximately $949,716. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the transaction, the vice president now owns 10,042 shares in the company, valued at $3,715,540. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,068 shares of company stock worth $71,811,372. Insiders own 5.90% of the company’s stock.

Stryker Price Performance

NYSE:SYK opened at $366.20 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $139.50 billion, a price-to-earnings ratio of 41.80, a P/E/G ratio of 2.85 and a beta of 0.91. Stryker Co. has a 12-month low of $255.22 and a 12-month high of $374.63. The stock’s 50 day moving average price is $357.37 and its two-hundred day moving average price is $343.45.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the prior year, the business posted $2.54 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. On average, analysts anticipate that Stryker Co. will post 12 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s payout ratio is 36.53%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. BTIG Research raised their price objective on Stryker from $374.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 14th. UBS Group raised their price objective on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Stifel Nicolaus cut their target price on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Evercore ISI lifted their price target on Stryker from $365.00 to $380.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Finally, Piper Sandler restated an “overweight” rating and set a $380.00 price objective on shares of Stryker in a research note on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $381.16.

About Stryker

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.