Stock Yards Bank & Trust Co. Trims Stake in Stryker Co. (NYSE:SYK)

Stock Yards Bank & Trust Co. reduced its position in Stryker Co. (NYSE:SYK) by 2.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 88,046 shares of the medical technology company’s stock after selling 2,052 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Stryker were worth $31,808,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Dunhill Financial LLC boosted its holdings in shares of Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 37 shares in the last quarter. Centennial Bank AR raised its position in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 48 shares in the last quarter. Darwin Wealth Management LLC bought a new position in shares of Stryker in the 3rd quarter valued at approximately $36,000. Hara Capital LLC acquired a new position in Stryker during the 3rd quarter worth $42,000. Finally, HBW Advisory Services LLC bought a new position in Stryker in the 3rd quarter worth approximately $42,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling

In other news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. This represents a 42.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,781 shares of company stock valued at $24,612,275. Corporate insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on SYK shares. Evercore ISI raised their target price on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and issued a $420.00 target price (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research note on Wednesday. Wells Fargo & Company raised their target price on shares of Stryker from $405.00 to $427.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Robert W. Baird boosted their target price on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $404.35.

Stryker Price Performance

Stryker stock opened at $375.90 on Thursday. The company has a 50-day moving average price of $372.42 and a 200 day moving average price of $354.51. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The stock has a market cap of $143.30 billion, a P/E ratio of 40.29, a PEG ratio of 2.89 and a beta of 0.94. Stryker Co. has a 12-month low of $285.79 and a 12-month high of $398.20.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same period last year, the business earned $2.46 EPS. The company’s revenue was up 11.9% on a year-over-year basis. Sell-side analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.89%. This is a positive change from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio is presently 34.30%.

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.