Stryker Co. (NYSE:SYK) Holdings Decreased by Fulton Bank N.A.

Fulton Bank N.A. lessened its stake in Stryker Co. (NYSE:SYK) by 13.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,623 shares of the medical technology company’s stock after selling 1,207 shares during the period. Fulton Bank N.A.’s holdings in Stryker were worth $2,745,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Avestar Capital LLC increased its holdings in shares of Stryker by 1.1% in the third quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock valued at $1,065,000 after purchasing an additional 31 shares during the last quarter. Patrick M Sweeney & Associates Inc. grew its stake in Stryker by 1.5% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after buying an additional 32 shares during the last quarter. Grimes & Company Inc. raised its holdings in Stryker by 0.4% in the 3rd quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock valued at $2,977,000 after acquiring an additional 33 shares during the period. Sachetta LLC lifted its position in Stryker by 16.3% during the second quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after acquiring an additional 34 shares during the last quarter. Finally, Moran Wealth Management LLC boosted its holdings in shares of Stryker by 0.4% during the third quarter. Moran Wealth Management LLC now owns 9,047 shares of the medical technology company’s stock worth $3,268,000 after acquiring an additional 34 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Trading Up 2.0 %

NYSE:SYK traded up $7.03 during midday trading on Wednesday, reaching $362.21. 513,767 shares of the stock traded hands, compared to its average volume of 1,070,882. The stock has a market capitalization of $138.08 billion, a P/E ratio of 38.82, a PEG ratio of 2.82 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 company has a fifty day moving average of $375.25 and a 200 day moving average of $357.42. Stryker Co. has a 12 month low of $298.52 and a 12 month high of $398.20.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The firm had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the company earned $2.46 EPS. On average, research analysts predict 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. Shareholders of record on Tuesday, December 31st will be issued a $0.84 dividend. This is an increase from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.93%. Stryker’s dividend payout ratio is 36.01%.

Insider Activity

In related news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

SYK has been the topic of several recent research reports. Canaccord Genuity Group increased their price objective on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Citigroup raised their price target on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Truist Financial boosted their price objective on shares of Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Barclays raised their target price on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $442.00 price target on shares of Stryker in a research note on Tuesday. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average target price of $405.80.

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.