Nixon Peabody Trust Co. Has $16.38 Million Stock Holdings in Stryker Co. (NYSE:SYK)

Nixon Peabody Trust Co. decreased its holdings in shares of Stryker Co. (NYSE:SYK) by 23.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,000 shares of the medical technology company’s stock after selling 13,467 shares during the quarter. Stryker comprises approximately 1.4% of Nixon Peabody Trust Co.’s holdings, making the stock its 22nd largest position. Nixon Peabody Trust Co.’s holdings in Stryker were worth $16,379,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. J. W. Coons Advisors LLC grew its stake in Stryker by 0.7% in the fourth quarter. J. W. Coons Advisors LLC now owns 3,653 shares of the medical technology company’s stock valued at $1,315,000 after acquiring an additional 26 shares during the period. Mascoma Wealth Management LLC lifted its holdings in shares of Stryker by 22.7% during the 4th quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company’s stock valued at $53,000 after purchasing an additional 27 shares in the last quarter. Opal Wealth Advisors LLC lifted its holdings in shares of Stryker by 1.6% during the 4th quarter. Opal Wealth Advisors LLC now owns 1,816 shares of the medical technology company’s stock valued at $654,000 after purchasing an additional 28 shares in the last quarter. Lindbrook Capital LLC grew its position in shares of Stryker by 2.0% in the 4th quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company’s stock valued at $507,000 after purchasing an additional 28 shares during the period. Finally, Capital & Planning LLC increased its stake in Stryker by 3.6% during the 4th quarter. Capital & Planning LLC now owns 841 shares of the medical technology company’s stock worth $304,000 after purchasing an additional 29 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the transaction, the director now directly owns 3,417,326 shares in the company, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SYK. Barclays lifted their price target on shares of Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. BTIG Research set a $403.00 price objective on shares of Stryker and gave the company a “buy” rating in a research report on Monday, April 14th. The Goldman Sachs Group set a $422.00 target price on shares of Stryker in a research note on Tuesday, March 4th. Evercore ISI lowered their target price on Stryker from $400.00 to $390.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Finally, Citigroup reissued a “buy” rating and issued a $455.00 price target (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $427.30.

Stryker Stock Performance

SYK opened at $381.33 on Wednesday. The business’s 50-day simple moving average is $369.31 and its 200 day simple moving average is $376.06. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The firm has a market capitalization of $145.55 billion, a PE ratio of 49.14, a PEG ratio of 2.93 and a beta of 0.93.

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

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.88%. The ex-dividend date is Monday, June 30th. Stryker’s dividend payout ratio (DPR) is currently 45.41%.

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.