Field & Main Bank Sells 87 Shares of Stryker Co. (NYSE:SYK)

Field & Main Bank reduced its position in Stryker Co. (NYSE:SYK) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,283 shares of the medical technology company’s stock after selling 87 shares during the quarter. Stryker makes up about 1.7% of Field & Main Bank’s portfolio, making the stock its 14th largest position. Field & Main Bank’s holdings in Stryker were worth $4,782,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SYK. Driehaus Capital Management LLC lifted its stake in Stryker by 73.8% in the second quarter. Driehaus Capital Management LLC now owns 1,107 shares of the medical technology company’s stock valued at $377,000 after buying an additional 470 shares during the period. Ascent Group LLC boosted its stake in Stryker by 4.4% during the second quarter. Ascent Group LLC now owns 3,790 shares of the medical technology company’s stock worth $1,290,000 after acquiring an additional 159 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Stryker by 36.1% during the second quarter. NewEdge Advisors LLC now owns 22,854 shares of the medical technology company’s stock valued at $7,776,000 after purchasing an additional 6,066 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Stryker by 19.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 47,704 shares of the medical technology company’s stock worth $16,234,000 after acquiring an additional 7,879 shares in the last quarter. Finally, Kimelman & Baird LLC acquired a new position in Stryker during the 2nd quarter valued at about $170,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SYK has been the topic of a number of recent research reports. Truist Financial raised their target price on Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Robert W. Baird increased their target price on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on shares of Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a report on Wednesday. StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a report on Wednesday, January 22nd. Finally, Piper Sandler restated an “overweight” rating and issued a $420.00 target price (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $412.55.

Insider Activity

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

Stryker Stock Performance

NYSE:SYK opened at $391.22 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The firm’s fifty day simple moving average is $376.44 and its 200 day simple moving average is $361.98. The stock has a market cap of $149.14 billion, a P/E ratio of 42.00, a price-to-earnings-growth ratio of 2.68 and a beta of 0.95. Stryker Co. has a twelve month low of $314.05 and a twelve month high of $406.19.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.07% and a net margin of 16.34%. During the same period in the previous year, the business earned $3.46 EPS. As a group, research analysts predict that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. This is a boost from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s dividend payout ratio is presently 36.01%.

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.