Penobscot Investment Management Company Inc. Has $12 Million Stock Holdings in Stryker Co. (NYSE:SYK)

Penobscot Investment Management Company Inc. lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 2.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 40,075 shares of the medical technology company’s stock after acquiring an additional 1,082 shares during the quarter. Stryker makes up about 1.4% of Penobscot Investment Management Company Inc.’s portfolio, making the stock its 18th biggest holding. Penobscot Investment Management Company Inc.’s holdings in Stryker were worth $12,001,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Stryker by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 30,665,520 shares of the medical technology company’s stock worth $8,379,967,000 after acquiring an additional 143,631 shares during the period. FMR LLC boosted its holdings in shares of Stryker by 2.5% during the 3rd quarter. FMR LLC now owns 5,972,582 shares of the medical technology company’s stock valued at $1,632,127,000 after acquiring an additional 144,208 shares in the last quarter. Morgan Stanley boosted its stake in shares of Stryker by 4.4% during the third quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock valued at $1,452,493,000 after purchasing an additional 223,728 shares in the last quarter. Northern Trust Corp increased its stake in shares of Stryker by 3.9% in the third quarter. Northern Trust Corp now owns 3,505,595 shares of the medical technology company’s stock valued at $957,974,000 after buying an additional 131,590 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Stryker by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,740,456 shares of the medical technology company’s stock valued at $475,614,000 after acquiring an additional 40,736 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Citigroup upped their price objective on shares of Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Evercore ISI raised their price objective on shares of Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Wells Fargo & Company increased their price target on Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Royal Bank of Canada raised their price objective on shares of Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Finally, Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 target price on the stock in a report on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $340.67.

Insider Transactions at Stryker

In related news, Director Allan C. Golston sold 3,273 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following the sale, the director now directly owns 14,242 shares of the company’s stock, valued at $4,856,522. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Allan C. Golston sold 3,273 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the sale, the director now directly owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the transaction, the director now directly owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 212,109 shares of company stock worth $72,845,768. Insiders own 5.50% of the company’s stock.

Stryker Price Performance

NYSE:SYK traded down $2.05 during mid-day trading on Tuesday, hitting $336.82. 806,036 shares of the stock traded hands, compared to its average volume of 1,280,753. The business’s 50-day moving average price is $348.68 and its 200 day moving average price is $316.14. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $361.41. The company has a market cap of $128.15 billion, a PE ratio of 41.09, a price-to-earnings-growth ratio of 2.70 and a beta of 0.89.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.19. The company had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the company earned $3.00 earnings per share. On average, analysts expect that Stryker Co. will post 11.86 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s dividend payout ratio (DPR) is presently 38.79%.

Stryker Company 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.