Stock Yards Bank & Trust Co. Reduces Position in Stryker Co. (NYSE:SYK)

Stock Yards Bank & Trust Co. reduced its position in shares of Stryker Co. (NYSE:SYK) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 85,428 shares of the medical technology company’s stock after selling 2,618 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Stryker were worth $30,758,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Planning LLC boosted its position in shares of Stryker by 3.6% in the fourth quarter. Capital Planning LLC now owns 841 shares of the medical technology company’s stock worth $304,000 after acquiring an additional 29 shares during the last quarter. Alhambra Investment Management LLC raised its stake in Stryker by 1.5% during the fourth quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company’s stock worth $719,000 after purchasing an additional 29 shares during the period. Concord Wealth Partners boosted its holdings in shares of Stryker by 2.2% in the 4th quarter. Concord Wealth Partners now owns 1,396 shares of the medical technology company’s stock valued at $503,000 after purchasing an additional 30 shares during the last quarter. Avestar Capital LLC grew its stake in shares of Stryker by 1.1% during the 3rd quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock valued at $1,065,000 after buying an additional 31 shares during the period. Finally, Union Savings Bank increased its holdings in shares of Stryker by 1.0% during the 4th quarter. Union Savings Bank now owns 3,162 shares of the medical technology company’s stock worth $1,138,000 after buying an additional 31 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Activity

In related news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 5.50% of the company’s stock.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of research reports. Citigroup boosted their price target on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Piper Sandler reissued an “overweight” rating and set a $420.00 target price (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a report on Thursday. Stifel Nicolaus increased their price objective on shares of Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Finally, Truist Financial raised their target price on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $419.37.

Stryker Trading Up 0.1 %

NYSE SYK opened at $390.90 on Monday. The firm has a market capitalization of $149.02 billion, a PE ratio of 50.37, a price-to-earnings-growth ratio of 2.78 and a beta of 0.96. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The company has a 50-day simple moving average of $376.68 and a 200-day simple moving average of $363.02. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter last year, the firm earned $3.46 earnings per share. On average, equities analysts forecast that Stryker Co. will post 13.5 earnings per share for the current year.

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. This is a boost from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Tuesday, December 31st. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

About Stryker

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.