Penobscot Investment Management Company Inc. Has $15.88 Million Stock Position in Stryker Corporation $SYK

by · The Markets Daily

Penobscot Investment Management Company Inc. grew its position in shares of Stryker Corporation (NYSE:SYK – Free Report) by 6.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,187 shares of the medical technology company’s stock after acquiring an additional 2,821 shares during the quarter. 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 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of SYK. Clayton Financial Group LLC acquired a new position in Stryker during the 3rd quarter worth approximately $26,000. United Financial Planning Group LLC acquired a new position in Stryker during the 3rd quarter worth approximately $27,000. Strive Asset Management LLC acquired a new stake in shares of Stryker in the 3rd quarter valued at approximately $30,000. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Stryker in the 3rd quarter valued at approximately $34,000. Finally, Copia Wealth Management boosted its holdings in shares of Stryker by 181.6% in the 3rd quarter. Copia Wealth Management now owns 107 shares of the medical technology company’s stock valued at $40,000 after buying an additional 69 shares during the last quarter. Institutional investors and hedge funds 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 stock in a transaction on 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 owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. This represents a 9.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.60% of the company’s stock.

Stryker Trading Down 3.2%

NYSE SYK opened at $327.63 on Wednesday. Stryker Corporation has a 12 month low of $319.32 and a 12 month high of $404.87. The stock has a 50 day moving average of $351.94 and a 200-day moving average of $359.01. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66. The company has a market cap of $125.48 billion, a PE ratio of 39.00, a PEG ratio of 1.98 and a beta of 0.92.

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

Stryker Announces Dividend

The firm also recently declared 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. This represents a $3.52 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, March 31st. Stryker’s dividend payout ratio is 41.90%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SYK shares. Piper Sandler reissued an “overweight” rating on shares of Stryker in a report on Tuesday, January 27th. Robert W. Baird set a $437.00 price objective on Stryker in a report on Friday, January 30th. Sanford C. Bernstein increased their price objective on Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a report on Friday, January 9th. The Goldman Sachs Group cut their price objective on Stryker from $403.00 to $357.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Finally, Truist Financial cut their price objective on Stryker from $395.00 to $380.00 and set a “hold” rating for the company in a report on Wednesday, April 15th. Fifteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $421.11.

View Our Latest Analysis on SYK

Stryker Company Profile

(Free Report)

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.

See Also

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