OLD National Bancorp IN Purchases 212 Shares of Stryker Co. (NYSE:SYK)

OLD National Bancorp IN increased its position in Stryker Co. (NYSE:SYK) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,362 shares of the medical technology company’s stock after purchasing an additional 212 shares during the quarter. OLD National Bancorp IN’s holdings in Stryker were worth $3,371,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of SYK. Cetera Investment Advisers boosted its position in Stryker by 2.5% during the 2nd quarter. Cetera Investment Advisers now owns 89,948 shares of the medical technology company’s stock valued at $30,605,000 after acquiring an additional 2,220 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in Stryker during the 2nd quarter valued at $19,301,000. Centaurus Financial Inc. boosted its position in Stryker by 11.3% during the 2nd quarter. Centaurus Financial Inc. now owns 1,047 shares of the medical technology company’s stock valued at $356,000 after acquiring an additional 106 shares in the last quarter. Appleton Partners Inc. MA boosted its position in Stryker by 0.7% during the 3rd quarter. Appleton Partners Inc. MA now owns 27,822 shares of the medical technology company’s stock valued at $10,051,000 after acquiring an additional 182 shares in the last quarter. Finally, American National Bank & Trust boosted its position in Stryker by 14.3% during the 3rd quarter. American National Bank & Trust now owns 34,200 shares of the medical technology company’s stock valued at $12,355,000 after acquiring an additional 4,281 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

Shares of Stryker stock opened at $390.48 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19. The business has a 50-day moving average price of $376.55 and a 200 day moving average price of $362.18. The firm has a market cap of $148.86 billion, a PE ratio of 50.32, a P/E/G ratio of 2.68 and a beta of 0.95.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.86% and a net margin of 13.25%. During the same period last year, the firm posted $3.46 earnings per share. Sell-side analysts predict that Stryker Co. will post 13.53 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is currently 43.30%.

Insider Activity at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction dated 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 directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SYK. Piper Sandler reaffirmed 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. Royal Bank of Canada increased their target price on Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research report on Wednesday. Barclays raised their price objective on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. JMP Securities reissued a “market perform” rating on shares of Stryker in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. raised their price objective on Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $416.40.

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.