Watch Point Trust Co Has $4.89 Million Stock Holdings in Stryker Co. (NYSE:SYK)

Watch Point Trust Co reduced its stake in shares of Stryker Co. (NYSE:SYK) by 2.5% in the 3rd quarter, Holdings Channel reports. The firm owned 22,599 shares of the medical technology company’s stock after selling 591 shares during the quarter. Stryker accounts for 2.6% of Watch Point Trust Co’s investment portfolio, making the stock its 8th largest holding. Watch Point Trust Co’s holdings in Stryker were worth $4,888,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in SYK. Massey Quick Simon & CO. LLC acquired a new stake in Stryker during the 2nd quarter worth about $27,000. Ossiam acquired a new stake in Stryker during the 2nd quarter worth about $33,000. Garrett Wealth Advisory Group LLC acquired a new stake in Stryker during the 3rd quarter worth about $35,000. Stonebridge Capital Advisors LLC acquired a new stake in Stryker during the 2nd quarter worth about $39,000. Finally, Webster Bank N. A. grew its holdings in Stryker by 300.0% during the 2nd quarter. Webster Bank N. A. now owns 200 shares of the medical technology company’s stock worth $41,000 after acquiring an additional 150 shares during the period. 73.13% of the stock is owned by institutional investors and hedge funds.

A number of analysts have weighed in on SYK shares. UBS Group increased their price target on Stryker from $220.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Robert W. Baird increased their price target on Stryker from $239.00 to $242.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Royal Bank of Canada set a $220.00 price target on Stryker and gave the stock a “buy” rating in a report on Friday, July 26th. Canaccord Genuity increased their price target on Stryker from $233.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley increased their price target on Stryker from $218.00 to $230.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $220.17.

Shares of SYK traded down $1.00 during trading hours on Friday, hitting $199.78. The stock had a trading volume of 1,281,765 shares, compared to its average volume of 1,230,180. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.18 and a quick ratio of 1.35. The firm has a 50 day simple moving average of $213.13 and a 200-day simple moving average of $205.63. The firm has a market capitalization of $74.21 billion, a P/E ratio of 27.33, a price-to-earnings-growth ratio of 2.43 and a beta of 0.80. Stryker Co. has a 1-year low of $144.75 and a 1-year high of $223.45.

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Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $1.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.01. The company had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.58 billion. Stryker had a return on equity of 25.33% and a net margin of 23.55%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the business posted $1.69 EPS. Equities analysts predict that Stryker Co. will post 8.23 EPS for the current fiscal year.

In other Stryker news, COO Timothy J. Scannell sold 4,666 shares of Stryker stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $217.08, for a total transaction of $1,012,895.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Srikant M. Datar sold 350 shares of Stryker stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $215.00, for a total value of $75,250.00. Following the transaction, the director now owns 6,844 shares of the company’s stock, valued at approximately $1,471,460. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,524 shares of company stock valued at $14,731,927. 7.20% of the stock is currently owned by company insiders.

Stryker Company Profile

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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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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