Stryker Co. (NYSE:SYK) Shares Sold by Bank of New Hampshire

Bank of New Hampshire lessened its stake in Stryker Co. (NYSE:SYK) by 1.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 16,178 shares of the medical technology company’s stock after selling 194 shares during the period. Stryker comprises 1.6% of Bank of New Hampshire’s investment portfolio, making the stock its 14th biggest position. Bank of New Hampshire’s holdings in Stryker were worth $6,022,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Stryker by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company’s stock valued at $11,773,213,000 after buying an additional 252,188 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Stryker by 0.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company’s stock valued at $4,000,056,000 after buying an additional 54,693 shares during the period. FMR LLC lifted its holdings in shares of Stryker by 10.0% in the 4th quarter. FMR LLC now owns 8,034,844 shares of the medical technology company’s stock valued at $2,892,946,000 after buying an additional 727,850 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Stryker by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company’s stock valued at $2,539,033,000 after buying an additional 168,436 shares during the period. Finally, Norges Bank acquired a new position in shares of Stryker in the 4th quarter valued at about $1,710,744,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Price Performance

NYSE:SYK opened at $384.15 on Friday. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The stock has a 50 day moving average of $370.10 and a two-hundred day moving average of $375.96. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a market cap of $146.63 billion, a P/E ratio of 49.50, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.73 by $0.11. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. During the same period in the previous year, the business earned $2.50 EPS. Stryker’s quarterly revenue was up 11.9% on a year-over-year basis. On average, analysts expect that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.87%. Stryker’s dividend payout ratio (DPR) is presently 45.41%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Truist Financial lifted their price target on Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a research note on Monday, May 5th. Needham & Company LLC restated a “buy” rating and issued a $442.00 price target on shares of Stryker in a research note on Friday, March 21st. Wall Street Zen lowered Stryker from a “buy” rating to a “hold” rating in a research note on Friday. JMP Securities restated a “market perform” rating on shares of Stryker in a research note on Monday, May 5th. Finally, The Goldman Sachs Group set a $422.00 price target on Stryker in a research note on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $427.30.

Insider Activity

In other 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 completion of the sale, the director now directly owns 3,417,326 shares in the company, valued at $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.90% of the company’s stock.

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.