Associated Banc Corp Boosts Stake in Stryker Co. (NYSE:SYK)

Associated Banc Corp boosted its stake in shares of Stryker Co. (NYSE:SYK) by 13.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,471 shares of the medical technology company’s stock after purchasing an additional 2,352 shares during the period. Associated Banc Corp’s holdings in Stryker were worth $6,130,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of SYK. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 61 shares in the last quarter. Rogco LP bought a new stake in shares of Stryker during the 4th quarter valued at $30,000. HBC Financial Services PLLC purchased a new position in shares of Stryker during the 4th quarter valued at $37,000. Bourgeon Capital Management LLC bought a new position in Stryker in the 4th quarter worth $37,000. Finally, Operose Advisors LLC increased its stake in Stryker by 308.6% in the 3rd quarter. Operose Advisors LLC now owns 143 shares of the medical technology company’s stock worth $39,000 after buying an additional 108 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the transaction, the chief accounting officer now owns 3,675 shares in the company, valued at $1,317,414. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 5.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Piper Sandler upped their price objective on Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 target price for the company in a research report on Wednesday, January 31st. Citigroup lifted their price target on shares of Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Barclays increased their price objective on shares of Stryker from $372.00 to $376.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, Roth Mkm boosted their target price on Stryker from $348.00 to $405.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and a consensus price target of $365.94.

Stryker Trading Down 1.4 %

Shares of SYK stock traded down $4.60 on Monday, reaching $330.08. 338,800 shares of the company’s stock were exchanged, compared to its average volume of 1,324,915. The company’s fifty day simple moving average is $342.20 and its 200 day simple moving average is $322.55. The stock has a market capitalization of $125.74 billion, a PE ratio of 37.72, a P/E/G ratio of 2.61 and a beta of 0.91. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $361.41.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. During the same period in the previous year, the firm earned $2.14 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. As a group, analysts forecast that Stryker Co. will post 11.94 EPS for the current year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a $0.80 dividend. The ex-dividend date is Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.97%. Stryker’s payout ratio is 36.53%.

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.