Hemenway Trust Co LLC Sells 55 Shares of Stryker Co. (NYSE:SYK)

Hemenway Trust Co LLC trimmed its holdings in Stryker Co. (NYSE:SYK) by 2.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,583 shares of the medical technology company’s stock after selling 55 shares during the quarter. Hemenway Trust Co LLC’s holdings in Stryker were worth $924,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. WBI Investments LLC bought a new position in Stryker in the 1st quarter worth approximately $1,967,000. Catalina Capital Group LLC boosted its position in shares of Stryker by 103.9% during the 1st quarter. Catalina Capital Group LLC now owns 1,527 shares of the medical technology company’s stock valued at $546,000 after acquiring an additional 778 shares during the last quarter. Avidian Wealth Solutions LLC boosted its position in shares of Stryker by 33.9% during the 1st quarter. Avidian Wealth Solutions LLC now owns 2,385 shares of the medical technology company’s stock valued at $853,000 after acquiring an additional 604 shares during the last quarter. Mediolanum International Funds Ltd bought a new position in shares of Stryker during the 1st quarter valued at approximately $18,694,000. Finally, Larson Financial Group LLC boosted its position in shares of Stryker by 1.6% during the 1st quarter. Larson Financial Group LLC now owns 10,577 shares of the medical technology company’s stock valued at $3,785,000 after acquiring an additional 171 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Up 0.2 %

Shares of Stryker stock traded up $0.75 during trading on Thursday, hitting $338.09. 838,370 shares of the stock traded hands, compared to its average volume of 1,282,250. The firm has a market cap of $128.80 billion, a P/E ratio of 38.59, a price-to-earnings-growth ratio of 2.63 and a beta of 0.89. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $361.41. The stock’s fifty day simple moving average is $337.68 and its 200 day simple moving average is $335.97.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter last year, the company earned $2.14 earnings per share. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities analysts predict that Stryker Co. will post 11.95 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.95%. The ex-dividend date is Friday, June 28th. Stryker’s dividend payout ratio is presently 36.53%.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of research reports. BTIG Research increased their target price on Stryker from $366.00 to $369.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. The Goldman Sachs Group initiated coverage on Stryker in a research report on Thursday, May 30th. They set a “neutral” rating and a $372.00 target price for the company. Royal Bank of Canada increased their target price on Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Piper Sandler increased their price target on Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Finally, Roth Mkm increased their price target on Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $370.32.

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.