Commerce Bank Purchases 2,508 Shares of Stryker Co. (NYSE:SYK)

Commerce Bank grew its holdings in shares of Stryker Co. (NYSE:SYK) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 173,656 shares of the medical technology company’s stock after buying an additional 2,508 shares during the period. Commerce Bank’s holdings in Stryker were worth $52,003,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SYK. Banco de Sabadell S.A boosted its stake in Stryker by 4.2% during the fourth quarter. Banco de Sabadell S.A now owns 6,426 shares of the medical technology company’s stock worth $1,923,000 after acquiring an additional 259 shares in the last quarter. Frazier Financial Advisors LLC bought a new stake in Stryker during the fourth quarter worth about $147,000. Sand Hill Global Advisors LLC boosted its stake in Stryker by 1.0% during the fourth quarter. Sand Hill Global Advisors LLC now owns 26,495 shares of the medical technology company’s stock worth $7,934,000 after acquiring an additional 251 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its stake in Stryker by 2.5% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 1,620,299 shares of the medical technology company’s stock worth $485,215,000 after acquiring an additional 39,497 shares in the last quarter. Finally, King Luther Capital Management Corp boosted its stake in Stryker by 0.5% during the fourth quarter. King Luther Capital Management Corp now owns 392,568 shares of the medical technology company’s stock worth $117,558,000 after acquiring an additional 1,961 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Performance

SYK stock traded down $4.56 during midday trading on Thursday, reaching $330.86. 547,406 shares of the company’s stock traded hands, compared to its average volume of 1,327,935. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $361.41. The stock has a market cap of $126.04 billion, a P/E ratio of 37.78, a PEG ratio of 2.60 and a beta of 0.91. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The stock’s 50-day moving average is $340.69 and its 200 day moving average is $323.38.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The company’s revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.14 earnings per share. As a group, analysts anticipate that Stryker Co. will post 11.95 EPS for the current year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a $0.80 dividend. The ex-dividend date is Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.97%. Stryker’s payout ratio is currently 36.53%.

Insiders Place Their Bets

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

SYK has been the topic of several analyst reports. Evercore ISI upped their target price on shares of Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. TD Cowen upped their target price on shares of Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Needham & Company LLC upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $392.00 target price on the stock in a research note on Wednesday. Citigroup upped their target price on shares of Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Finally, UBS Group upped their target price on shares of Stryker from $339.00 to $351.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $367.32.

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.