Country Club Bank Lowers Position in Stryker Co. (NYSE:SYK)

Country Club Bank lessened its stake in Stryker Co. (NYSE:SYK) by 1.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,613 shares of the medical technology company’s stock after selling 79 shares during the period. Country Club Bank’s holdings in Stryker were worth $2,382,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Trueblood Wealth Management LLC boosted its position in Stryker by 7.6% in the 3rd quarter. Trueblood Wealth Management LLC now owns 2,841 shares of the medical technology company’s stock worth $1,026,000 after purchasing an additional 200 shares in the last quarter. Tandem Capital Management Corp ADV raised its stake in shares of Stryker by 1.3% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 16,390 shares of the medical technology company’s stock worth $5,865,000 after buying an additional 213 shares during the period. West Michigan Advisors LLC raised its stake in shares of Stryker by 2.2% during the 3rd quarter. West Michigan Advisors LLC now owns 8,573 shares of the medical technology company’s stock worth $3,104,000 after buying an additional 183 shares during the period. Harbour Trust & Investment Management Co raised its stake in shares of Stryker by 1.8% during the 3rd quarter. Harbour Trust & Investment Management Co now owns 42,347 shares of the medical technology company’s stock worth $15,298,000 after buying an additional 736 shares during the period. Finally, Nicholson Wealth Management Group LLC acquired a new position in shares of Stryker during the 3rd quarter worth approximately $993,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

NYSE SYK opened at $352.82 on Friday. The stock has a market cap of $134.41 billion, a PE ratio of 40.28, a P/E/G ratio of 2.83 and a beta of 0.91. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. Stryker Co. has a twelve month low of $255.22 and a twelve month high of $374.63. The stock has a fifty day simple moving average of $358.80 and a 200-day simple moving average of $343.67.

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

Stryker Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. BTIG Research upped their target price on Stryker from $374.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Barclays upped their target price on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Stifel Nicolaus reduced their price objective on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Needham & Company LLC increased their price objective on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Truist Financial increased their price objective on Stryker from $345.00 to $370.00 and gave the company a “hold” rating in a research note on Monday, October 14th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $381.16.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,715,540. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the sale, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock worth $71,811,372 in the last three months. 5.90% of the stock is owned by company insiders.

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.