American National Bank & Trust Raises Position in Stryker Co. (NYSE:SYK)

American National Bank & Trust lifted its stake in shares of Stryker Co. (NYSE:SYK) by 14.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 34,200 shares of the medical technology company’s stock after buying an additional 4,281 shares during the quarter. Stryker accounts for approximately 1.5% of American National Bank & Trust’s holdings, making the stock its 19th largest holding. American National Bank & Trust’s holdings in Stryker were worth $12,355,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SYK. Centennial Bank AR raised its stake in shares of 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 purchasing an additional 48 shares during the period. Central Pacific Bank Trust Division purchased a new position in Stryker in the 1st quarter valued at about $39,000. Accent Capital Management LLC acquired a new stake in shares of Stryker during the fourth quarter valued at about $60,000. Sachetta LLC increased its position in shares of Stryker by 16.3% during the second quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after acquiring an additional 34 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its stake in shares of Stryker by 17.9% in the first quarter. Hazlett Burt & Watson Inc. now owns 264 shares of the medical technology company’s stock worth $94,000 after acquiring an additional 40 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Stryker

In related news, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the sale, the vice president now directly owns 10,042 shares in the company, valued at $3,685,213.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the sale, the chief financial officer now owns 2,852 shares in the company, valued at $949,716. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,068 shares of company stock valued at $71,811,372. 5.90% of the stock is currently owned by corporate insiders.

Stryker Stock Down 0.6 %

Stryker stock opened at $355.11 on Thursday. The firm has a market capitalization of $135.28 billion, a P/E ratio of 40.54, a P/E/G ratio of 2.78 and a beta of 0.91. The company has a 50-day simple moving average of $348.90 and a 200-day simple moving average of $343.12. Stryker Co. has a one year low of $249.98 and a one year high of $374.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.79 by $0.02. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. Stryker’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.54 earnings per share. As a group, equities analysts expect that Stryker Co. will post 12 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.90%. The ex-dividend date is Monday, September 30th. Stryker’s payout ratio is currently 36.53%.

Analyst Upgrades and Downgrades

SYK has been the subject of several research analyst reports. Morgan Stanley increased their target price on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $386.00 price target on shares of Stryker in a research report on Wednesday, July 31st. Wolfe Research initiated coverage on Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price target for the company. Finally, Piper Sandler restated an “overweight” rating and set a $380.00 price objective on shares of Stryker in a research note on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $379.37.

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.