Watch Point Trust Co Has $4.77 Million Stock Position in Stryker Co. (NYSE:SYK)

Watch Point Trust Co boosted its position in Stryker Co. (NYSE:SYK) by 8.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 23,190 shares of the medical technology company’s stock after purchasing an additional 1,878 shares during the period. Stryker comprises 2.7% of Watch Point Trust Co’s investment portfolio, making the stock its 7th biggest position. Watch Point Trust Co’s holdings in Stryker were worth $4,768,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC raised its holdings in shares of Stryker by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 3,665,205 shares of the medical technology company’s stock valued at $573,387,000 after buying an additional 224,785 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Stryker during the 1st quarter valued at about $626,000. Pennsylvania Trust Co raised its holdings in shares of Stryker by 149.9% during the 1st quarter. Pennsylvania Trust Co now owns 25,213 shares of the medical technology company’s stock valued at $779,000 after buying an additional 15,123 shares during the period. BTIM Corp. grew its stake in Stryker by 2.4% during the 1st quarter. BTIM Corp. now owns 398,155 shares of the medical technology company’s stock valued at $78,643,000 after purchasing an additional 9,279 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in Stryker during the 1st quarter valued at approximately $2,391,000. 73.48% of the stock is owned by institutional investors and hedge funds.

SYK has been the subject of a number of recent analyst reports. Credit Suisse Group raised their price objective on Stryker from $232.00 to $237.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Royal Bank of Canada set a $220.00 price objective on Stryker and gave the company a “buy” rating in a research note on Friday, July 26th. Cantor Fitzgerald raised their price objective on Stryker from $190.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Barclays set a $226.00 price objective on Stryker and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Deutsche Bank raised their price objective on Stryker from $181.00 to $208.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Stryker currently has an average rating of “Buy” and an average target price of $214.89.

In related news, insider Timothy J. Scannell sold 4,666 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $197.68, for a total value of $922,374.88. Following the sale, the insider now owns 155,347 shares of the company’s stock, valued at approximately $30,708,994.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Glenn S. Boehnlein sold 2,700 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $214.16, for a total value of $578,232.00. Following the completion of the sale, the chief financial officer now directly owns 20,633 shares in the company, valued at approximately $4,418,763.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,431 shares of company stock valued at $3,174,489. Insiders own 7.20% of the company’s stock.

Shares of SYK traded up $3.35 during mid-day trading on Thursday, hitting $215.41. The stock had a trading volume of 16,381 shares, compared to its average volume of 1,090,678. The stock has a market capitalization of $81.21 billion, a P/E ratio of 29.38, a PEG ratio of 2.64 and a beta of 0.85. The company’s fifty day moving average price is $210.23. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 2.07. Stryker Co. has a fifty-two week low of $144.75 and a fifty-two week high of $222.59.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, July 25th. The medical technology company reported $1.98 EPS for the quarter, topping the consensus estimate of $1.93 by $0.05. The company had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.60 billion. Stryker had a return on equity of 25.98% and a net margin of 24.99%. The business’s revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.76 EPS. On average, equities analysts anticipate that Stryker Co. will post 8.2 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.08 annualized dividend and a dividend yield of 0.97%. Stryker’s payout ratio is 28.45%.

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.

Further Reading: The limitations of an equal weight rating

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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