Grove Bank & Trust Acquires 53 Shares of Stryker Co. (NYSE:SYK)

Grove Bank & Trust grew its holdings in Stryker Co. (NYSE:SYK) by 43.4% during the 4th quarter, Holdings Channel reports. The firm owned 175 shares of the medical technology company’s stock after purchasing an additional 53 shares during the period. Grove Bank & Trust’s holdings in Stryker were worth $63,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Artemis Investment Management LLP boosted its stake in shares of Stryker by 58.4% in the 4th quarter. Artemis Investment Management LLP now owns 167,003 shares of the medical technology company’s stock valued at $60,129,000 after purchasing an additional 61,568 shares during the last quarter. Arbor Trust Wealth Advisors LLC boosted its stake in shares of Stryker by 1.1% in the 4th quarter. Arbor Trust Wealth Advisors LLC now owns 12,101 shares of the medical technology company’s stock valued at $4,367,000 after purchasing an additional 127 shares during the last quarter. Cadinha & Co. LLC raised its position in shares of Stryker by 9.6% in the 4th quarter. Cadinha & Co. LLC now owns 1,206 shares of the medical technology company’s stock valued at $434,000 after acquiring an additional 106 shares during the period. Oak Ridge Investments LLC raised its position in shares of Stryker by 6.3% in the 4th quarter. Oak Ridge Investments LLC now owns 29,186 shares of the medical technology company’s stock valued at $10,508,000 after acquiring an additional 1,731 shares during the period. Finally, Aaron Wealth Advisors LLC raised its position in shares of Stryker by 8.4% in the 4th quarter. Aaron Wealth Advisors LLC now owns 2,903 shares of the medical technology company’s stock valued at $1,045,000 after acquiring an additional 225 shares during the period. Institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

NYSE:SYK opened at $383.91 on Tuesday. Stryker Co. has a 1-year low of $307.23 and a 1-year high of $398.20. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The firm has a fifty day simple moving average of $375.51 and a 200 day simple moving average of $359.17. The stock has a market capitalization of $146.35 billion, a PE ratio of 41.15, a P/E/G ratio of 2.51 and a beta of 0.95.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same period last year, the business earned $2.46 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. On average, research analysts expect that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. This is a boost from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s payout ratio is 36.01%.

Insiders Place Their Bets

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on SYK shares. Piper Sandler reiterated an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Robert W. Baird increased their price target on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Truist Financial increased their price target on shares of Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Canaccord Genuity Group raised their target price on shares of Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $425.00 target price on shares of Stryker in a report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $405.80.

Stryker Profile

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.