Stryker Co. (NYSE:SYK) Shares Sold by Legacy Private Trust Co.

Legacy Private Trust Co. reduced its position in Stryker Co. (NYSE:SYK) by 7.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,434 shares of the medical technology company’s stock after selling 108 shares during the quarter. Legacy Private Trust Co.’s holdings in Stryker were worth $516,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SYK. Dunhill Financial LLC grew its stake in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after buying an additional 37 shares during the period. Centennial Bank AR boosted its position in Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC acquired a new stake in Stryker in the 3rd quarter valued at $36,000. Hara Capital LLC purchased a new position in Stryker in the third quarter valued at about $42,000. Finally, HBW Advisory Services LLC acquired a new position in shares of Stryker during the third quarter worth about $42,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of recent research reports. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. Wells Fargo & Company lifted their price objective on shares of Stryker from $405.00 to $427.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Needham & Company LLC restated a “buy” rating and issued a $442.00 target price on shares of Stryker in a research note on Tuesday. JPMorgan Chase & Co. lifted their price target on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler reissued an “overweight” rating and issued a $420.00 price objective (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $405.80.

Stryker Stock Up 2.5 %

Shares of NYSE:SYK opened at $364.19 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. Stryker Co. has a 1-year low of $298.52 and a 1-year high of $398.20. The company’s fifty day moving average is $375.26 and its two-hundred day moving average is $357.47. The stock has a market capitalization of $138.84 billion, a price-to-earnings ratio of 39.03, a price-to-earnings-growth ratio of 2.82 and a beta of 0.95.

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

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.84 dividend. The ex-dividend date is Tuesday, December 31st. This is an increase from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.92%. Stryker’s dividend payout ratio (DPR) is currently 36.01%.

Insider Buying and Selling at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 5.50% of the stock is currently owned by company insiders.

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.