CNB Bank Sells 75 Shares of Stryker Co. (NYSE:SYK)

CNB Bank lessened its stake in Stryker Co. (NYSE:SYK) by 4.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,775 shares of the medical technology company’s stock after selling 75 shares during the quarter. CNB Bank’s holdings in Stryker were worth $639,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Dunhill Financial LLC boosted its stake in Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares during the period. Centennial Bank AR lifted its holdings in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Stryker during the third quarter worth about $36,000. HBW Advisory Services LLC bought a new position in shares of Stryker during the third quarter worth about $42,000. Finally, Hara Capital LLC acquired a new stake in Stryker in the 3rd quarter valued at approximately $42,000. Institutional investors own 77.09% of the company’s stock.

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 transaction of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Canaccord Genuity Group upped their price target on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Robert W. Baird increased their target price on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Citigroup lifted their price target on shares of Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Truist Financial boosted their price target on shares of Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Finally, BTIG Research raised their price objective on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $405.80.

Stryker Stock Performance

NYSE SYK opened at $381.76 on Friday. The stock has a market cap of $145.53 billion, a PE ratio of 40.96, a P/E/G ratio of 2.51 and a beta of 0.95. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The firm has a 50-day moving average of $375.12 and a 200-day moving average of $358.32. Stryker Co. has a 52-week low of $307.23 and a 52-week high of $398.20.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same period in the prior year, the firm posted $2.46 EPS. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, sell-side analysts anticipate that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.84 dividend. This is a boost from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 annualized dividend and a yield of 0.88%. Stryker’s payout ratio is 36.01%.

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.