Stryker Co. (NYSE:SYK) Position Trimmed by Bangor Savings Bank – Riverton Roll

Bangor Savings Bank trimmed its holdings in Stryker Co. (NYSE:SYK) by 8.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,485 shares of the medical technology companys stock after selling 633 shares during the period. Bangor Savings Banks holdings in Stryker were worth $1,361,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Voloridge Investment Management LLC acquired a new stake in Stryker in the third quarter valued at $4,589,000. Granite Investment Advisors LLC increased its position in shares of Stryker by 0.7% during the third quarter. Granite Investment Advisors LLC now owns 17,847 shares of the medical technology companys stock worth $3,860,000 after purchasing an additional 120 shares in the last quarter. Synovus Financial Corp increased its position in shares of Stryker by 3.0% during the third quarter. Synovus Financial Corp now owns 3,829 shares of the medical technology companys stock worth $826,000 after purchasing an additional 111 shares in the last quarter. Bridger Capital Management LLC acquired a new stake in shares of Stryker during the third quarter worth about $90,000. Finally, Hall Laurie J Trustee increased its position in shares of Stryker by 2.2% during the third quarter. Hall Laurie J Trustee now owns 36,554 shares of the medical technology companys stock worth $7,907,000 after purchasing an additional 785 shares in the last quarter. Institutional investors and hedge funds own 73.35% of the companys stock.

Shares of NYSE:SYK traded down $3.52 during trading on Wednesday, hitting $210.68. 2,871,086 shares of the stock were exchanged, compared to its average volume of 1,587,257. The company has a fifty day moving average price of $209.78 and a two-hundred day moving average price of $211.44. The company has a market cap of $80.14 billion, a PE ratio of 23.36, a P/E/G ratio of 2.39 and a beta of 0.76. The company has a current ratio of 2.18, a quick ratio of 1.35 and a debt-to-equity ratio of 0.64. Stryker Co. has a 12-month low of $174.79 and a 12-month high of $223.45.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $2.49 EPS for the quarter, topping the Thomson Reuters consensus estimate of $2.46 by $0.03. The business had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.11 billion. Stryker had a return on equity of 25.33% and a net margin of 23.55%. The companys quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.18 EPS. Equities research analysts anticipate that Stryker Co. will post 8.23 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.575 per share. This is a positive change from Strykers previous quarterly dividend of $0.52. The ex-dividend date is Monday, December 30th. This represents a $2.30 annualized dividend and a dividend yield of 1.09%. Strykers payout ratio is 31.46%.

A number of analysts have recently commented on SYK shares. Deutsche Bank lifted their target price on Stryker from $239.00 to $243.00 and gave the stock a buy rating in a research report on Wednesday. Evercore ISI upgraded Stryker from an in-line rating to an outperform rating in a research report on Thursday, January 2nd. Canaccord Genuity lifted their target price on Stryker from $233.00 to $240.00 and gave the stock a buy rating in a research report on Wednesday, October 30th. Piper Sandler lowered Stryker from an overweight rating to a neutral rating and set a $210.00 price target on the stock. in a report on Tuesday, January 7th. Finally, ValuEngine lowered Stryker from a buy rating to a hold rating in a report on Wednesday, October 2nd. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the companys stock. Stryker has an average rating of Buy and an average price target of $227.45.

In other Stryker news, CEO Kevin Lobo sold 19,286 shares of the businesss stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $215.71, for a total value of $4,160,183.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Timothy J. Scannell sold 4,666 shares of the businesss stock in a transaction on Monday, November 18th. The shares were sold at an average price of $206.28, for a total value of $962,502.48. The disclosure for this sale can be found here. Insiders own 7.20% of the companys stock.

About Stryker

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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Stryker Co. (NYSE:SYK) Position Trimmed by Bangor Savings Bank - Riverton Roll