Ipswich Investment Management Co. Inc. Has $500,000 Stock Holdings in Stryker Co. (NYSE:SYK)

Ipswich Investment Management Co. Inc. lessened its holdings in shares of Stryker Co. (NYSE:SYK) by 7.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,670 shares of the medical technology company’s stock after selling 125 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Stryker were worth $500,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SYK. Fairfield Bush & CO. acquired a new position in shares of Stryker during the 1st quarter worth about $131,000. Dimensional Fund Advisors LP lifted its position in shares of Stryker by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 673,924 shares of the medical technology company’s stock worth $180,182,000 after purchasing an additional 9,026 shares during the last quarter. Prudential PLC acquired a new position in Stryker in the 1st quarter valued at approximately $1,444,000. Sequoia Financial Advisors LLC raised its holdings in Stryker by 21.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,056 shares of the medical technology company’s stock valued at $817,000 after acquiring an additional 543 shares in the last quarter. Finally, Zions Bancorporation N.A. raised its holdings in Stryker by 9.2% in the 1st quarter. Zions Bancorporation N.A. now owns 3,140 shares of the medical technology company’s stock valued at $839,000 after acquiring an additional 265 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analysts Set New Price Targets

SYK has been the subject of several recent research reports. Royal Bank of Canada upped their price target on Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Citigroup upped their price target on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. TD Cowen upped their price target on Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Canaccord Genuity Group raised Stryker from a “hold” rating to a “buy” rating and set a $360.00 price target for the company in a report on Wednesday, January 31st. Finally, Evercore ISI upped their price target on Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $340.45.

Stryker Stock Down 0.6 %

NYSE SYK opened at $325.43 on Friday. The firm has a market cap of $123.82 billion, a PE ratio of 39.45, a price-to-earnings-growth ratio of 2.62 and a beta of 0.89. Stryker Co. has a one year low of $249.98 and a one year high of $361.41. The stock’s 50 day simple moving average is $350.01 and its 200 day simple moving average is $312.82. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. The business had revenue of $5.82 billion for 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%. Stryker’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the prior year, the company earned $3.00 EPS. As a group, sell-side analysts forecast that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a yield of 0.98%. Stryker’s dividend payout ratio (DPR) is presently 38.79%.

Insider Buying and Selling

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the transaction, the director now directly owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now owns 3,675 shares in the company, valued at $1,317,414. The disclosure for this sale can be found here. Insiders have sold a total of 212,109 shares of company stock worth $72,845,768 in the last three months. Insiders own 5.90% of the company’s stock.

About Stryker

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.