Coastline Trust Co Buys 1,496 Shares of Stryker Corporation $SYK

Coastline Trust Co boosted its stake in shares of Stryker Corporation (NYSE:SYK) by 292.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,008 shares of the medical technology company’s stock after purchasing an additional 1,496 shares during the quarter. Coastline Trust Co’s holdings in Stryker were worth $706,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Armstrong Advisory Group Inc. increased its holdings in shares of Stryker by 12.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 247 shares of the medical technology company’s stock worth $91,000 after purchasing an additional 27 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of Stryker by 1.4% in the third quarter. Venturi Wealth Management LLC now owns 1,904 shares of the medical technology company’s stock valued at $704,000 after buying an additional 27 shares during the period. Patriot Financial Group Insurance Agency LLC grew its position in Stryker by 3.9% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 745 shares of the medical technology company’s stock worth $275,000 after buying an additional 28 shares in the last quarter. Wolff Wiese Magana LLC increased its stake in Stryker by 2.3% during the third quarter. Wolff Wiese Magana LLC now owns 1,271 shares of the medical technology company’s stock valued at $470,000 after acquiring an additional 28 shares during the period. Finally, Enterprise Financial Services Corp increased its stake in Stryker by 4.3% during the second quarter. Enterprise Financial Services Corp now owns 705 shares of the medical technology company’s stock valued at $279,000 after acquiring an additional 29 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SYK. UBS Group reduced their price objective on Stryker from $400.00 to $380.00 and set a “neutral” rating for the company in a research report on Tuesday. Weiss Ratings restated a “hold (c+)” rating on shares of Stryker in a research note on Monday, December 22nd. William Blair reaffirmed an “outperform” rating on shares of Stryker in a research report on Thursday, March 5th. Wall Street Zen upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Finally, Truist Financial lowered their price target on shares of Stryker from $400.00 to $392.00 and set a “hold” rating on the stock in a report on Thursday, December 18th. Fourteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $427.50.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were 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. The trade was a 9.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Down 1.7%

NYSE SYK opened at $339.97 on Friday. Stryker Corporation has a 1-year low of $328.23 and a 1-year high of $404.87. The company has a market capitalization of $130.10 billion, a price-to-earnings ratio of 40.47, a PEG ratio of 2.02 and a beta of 0.85. The stock’s 50 day moving average is $363.89 and its two-hundred day moving average is $366.43. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.40 by $0.07. The business had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $7.12 billion. Stryker had a return on equity of 24.41% and a net margin of 12.92%.Stryker’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the company earned $4.01 EPS. Equities analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.0%. Stryker’s dividend payout ratio (DPR) is presently 41.90%.

Stryker Company Profile

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.