Stryker Co. (NYSE:SYK) Shares Sold by UMB Bank n.a.

UMB Bank n.a. trimmed its stake in shares of Stryker Co. (NYSE:SYK) by 7.7% during the 4th quarter, Holdings Channel reports. The fund owned 18,441 shares of the medical technology company’s stock after selling 1,543 shares during the quarter. UMB Bank n.a.’s holdings in Stryker were worth $6,640,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dunhill Financial LLC grew its holdings in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 37 shares during the period. Centennial Bank AR grew its holdings in 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 during the period. Darwin Wealth Management LLC acquired a new stake in Stryker in the third quarter valued at approximately $36,000. Hara Capital LLC acquired a new stake in Stryker in the third quarter valued at approximately $42,000. Finally, HBW Advisory Services LLC acquired a new stake in Stryker in the third quarter valued at approximately $42,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Stryker 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 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. The trade was a 36.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.50% of the stock is currently owned by insiders.

Stryker Trading Up 0.6 %

SYK opened at $383.91 on Monday. Stryker Co. has a 12 month low of $307.23 and a 12 month high of $398.20. The stock has a market capitalization of $146.35 billion, a price-to-earnings ratio of 41.15, a PEG ratio of 2.51 and a beta of 0.95. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The business has a fifty day moving average price of $375.51 and a 200 day moving average price of $358.98.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the previous year, the firm posted $2.46 EPS. Stryker’s revenue for the quarter was up 11.9% on a year-over-year basis. Sell-side analysts expect that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

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

Analysts Set New Price Targets

Several analysts have commented on SYK shares. Robert W. Baird raised their price objective on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. UBS Group lifted their price objective on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Barclays raised their target price on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. 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 note on Wednesday, October 30th. Finally, Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $370.00 to $445.00 in a research note on Monday, December 2nd. 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.com, Stryker has an average 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.