Perkins Coie Trust Co Grows Stake in Stryker Co. (NYSE:SYK)

Perkins Coie Trust Co raised its stake in Stryker Co. (NYSE:SYK) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,064 shares of the medical technology company’s stock after acquiring an additional 178 shares during the period. Stryker makes up 1.7% of Perkins Coie Trust Co’s portfolio, making the stock its 14th biggest position. Perkins Coie Trust Co’s holdings in Stryker were worth $3,907,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massey Quick Simon & CO. LLC bought a new position in shares of Stryker during the second quarter valued at $27,000. Ossiam bought a new position in shares of Stryker during the second quarter valued at $33,000. Stonebridge Capital Advisors LLC bought a new position in shares of Stryker during the second quarter valued at $39,000. Webster Bank N. A. lifted its holdings in shares of Stryker by 300.0% during the second quarter. Webster Bank N. A. now owns 200 shares of the medical technology company’s stock valued at $41,000 after purchasing an additional 150 shares in the last quarter. Finally, Westside Investment Management Inc. bought a new position in shares of Stryker during the second quarter valued at $47,000. 72.95% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE SYK traded up $3.56 during trading on Friday, hitting $214.85. The company had a trading volume of 337,024 shares, compared to its average volume of 1,121,147. The stock has a 50 day simple moving average of $217.04 and a 200 day simple moving average of $202.89. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 2.07. Stryker Co. has a 12 month low of $144.75 and a 12 month high of $223.45. The firm has a market capitalization of $77.77 billion, a P/E ratio of 29.39, a price-to-earnings-growth ratio of 2.52 and a beta of 0.81.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, July 25th. The medical technology company reported $1.98 EPS for the quarter, topping the consensus estimate of $1.93 by $0.05. Stryker had a return on equity of 25.98% and a net margin of 24.99%. The firm had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter last year, the company earned $1.76 earnings per share. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, analysts predict that Stryker Co. will post 8.21 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Friday, September 27th. Stryker’s dividend payout ratio (DPR) is currently 28.45%.

In other news, VP M Kathryn Fink sold 28,690 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $220.97, for a total value of $6,339,629.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Timothy J. Scannell sold 4,666 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $205.88, for a total value of $960,636.08. Following the completion of the transaction, the insider now directly owns 155,963 shares in the company, valued at approximately $32,109,662.44. The disclosure for this sale can be found here. Insiders sold 51,637 shares of company stock worth $11,240,206 in the last ninety days. Corporate insiders own 7.20% of the company’s stock.

A number of research analysts have recently issued reports on SYK shares. Royal Bank of Canada set a $220.00 price target on Stryker and gave the company a “buy” rating in a report on Friday, July 26th. Credit Suisse Group upped their price target on Stryker from $232.00 to $237.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Raymond James set a $240.00 price target on Stryker and gave the company a “buy” rating in a report on Friday, July 26th. Wells Fargo & Co upped their price target on Stryker from $219.00 to $228.00 and gave the company an “outperform” rating in a report on Tuesday, July 2nd. Finally, ValuEngine downgraded Stryker from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $214.89.

Stryker Company Profile

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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