Farmers Trust Co. Purchases 267 Shares of Stryker Co. (NYSE:SYK)

Farmers Trust Co. raised its holdings in shares of Stryker Co. (NYSE:SYK) by 8.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,369 shares of the medical technology company’s stock after acquiring an additional 267 shares during the quarter. Farmers Trust Co.’s holdings in Stryker were worth $1,217,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Belpointe Asset Management LLC increased its stake in Stryker by 8.8% in the 4th quarter. Belpointe Asset Management LLC now owns 1,292 shares of the medical technology company’s stock valued at $387,000 after buying an additional 105 shares during the last quarter. Cetera Advisor Networks LLC grew its holdings in shares of Stryker by 4.1% in the 4th quarter. Cetera Advisor Networks LLC now owns 32,980 shares of the medical technology company’s stock valued at $9,876,000 after acquiring an additional 1,293 shares in the last quarter. Public Employees Retirement Association of Colorado increased its position in shares of Stryker by 267.6% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 50,921 shares of the medical technology company’s stock valued at $15,249,000 after acquiring an additional 37,070 shares during the last quarter. Exencial Wealth Advisors LLC raised its holdings in Stryker by 0.9% during the fourth quarter. Exencial Wealth Advisors LLC now owns 8,095 shares of the medical technology company’s stock worth $2,424,000 after acquiring an additional 76 shares in the last quarter. Finally, Morningstar Investment Services LLC acquired a new position in Stryker during the fourth quarter valued at approximately $392,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Price Performance

Shares of NYSE SYK opened at $351.61 on Friday. The business has a fifty day moving average price of $349.38 and a two-hundred day moving average price of $343.18. The stock has a market capitalization of $133.99 billion, a PE ratio of 40.14, a P/E/G ratio of 2.74 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $374.63.

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

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.91%. Stryker’s dividend payout ratio (DPR) is 36.53%.

Insider Buying and Selling at Stryker

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker 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 transaction, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the sale, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the transaction, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The disclosure for this sale can be found here. Insiders sold a total of 220,068 shares of company stock worth $71,811,372 over the last three months. Corporate insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SYK shares. Piper Sandler reiterated an “overweight” rating and set a $380.00 price objective on shares of Stryker in a research note on Tuesday, September 10th. Truist Financial dropped their price target on shares of Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. UBS Group increased their price target on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Wolfe Research initiated coverage on shares of Stryker in a research note on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective on the stock. Finally, Evercore ISI raised their target price on shares of Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $379.37.

Stryker 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.