Lincoln National Corp Boosts Stock Position in Stryker Co. (NYSE:SYK)

Lincoln National Corp grew its stake in shares of Stryker Co. (NYSE:SYK – Get Rating) by 8.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,166 shares of the medical technology company’s stock after acquiring an additional 498 shares during the period. Lincoln National Corp’s holdings in Stryker were worth $1,249,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. AMG National Trust Bank raised its position in shares of Stryker by 18.0% in the third quarter. AMG National Trust Bank now owns 18,650 shares of the medical technology company’s stock worth $3,778,000 after buying an additional 2,851 shares in the last quarter. J.W. Cole Advisors Inc. raised its position in shares of Stryker by 5.0% in the third quarter. J.W. Cole Advisors Inc. now owns 2,757 shares of the medical technology company’s stock worth $558,000 after buying an additional 132 shares in the last quarter. Asset Dedication LLC purchased a new stake in shares of Stryker in the third quarter worth $184,000. SG Americas Securities LLC raised its position in shares of Stryker by 117.7% in the second quarter. SG Americas Securities LLC now owns 18,095 shares of the medical technology company’s stock worth $3,600,000 after buying an additional 9,782 shares in the last quarter. Finally, First Merchants Corp raised its position in shares of Stryker by 4.3% in the third quarter. First Merchants Corp now owns 59,837 shares of the medical technology company’s stock worth $12,119,000 after buying an additional 2,486 shares in the last quarter. Hedge funds and other institutional investors own 77.10% of the company’s stock.

Wall Street Analysts Forecast Growth

SYK has been the topic of a number of research analyst reports. Barclays increased their target price on Stryker from $257.00 to $265.00 in a research note on Wednesday, January 4th. Canaccord Genuity Group downgraded Stryker from a “buy” rating to a “hold” rating and lowered their price target for the company from $225.00 to $220.00 in a research report on Tuesday, November 1st. Wells Fargo & Company raised their price target on Stryker from $248.00 to $281.00 and gave the company an “overweight” rating in a research report on Monday, December 12th. Piper Sandler lowered their price target on Stryker from $260.00 to $250.00 in a research report on Monday, October 10th. Finally, StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Friday, November 4th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $260.68.

Insider Buying and Selling at Stryker

In other news, CEO Kevin Lobo sold 67,232 shares of the business’s stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $239.68, for a total value of $16,114,165.76. Following the sale, the chief executive officer now directly owns 80,770 shares of the company’s stock, valued at approximately $19,358,953.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Srikant M. Datar sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $216.71, for a total value of $130,026.00. Following the transaction, the director now directly owns 5,161 shares of the company’s stock, valued at approximately $1,118,440.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin Lobo sold 67,232 shares of the company’s stock in a transaction that occurred on Friday, December 2nd. The shares were sold at an average price of $239.68, for a total value of $16,114,165.76. Following the completion of the transaction, the chief executive officer now directly owns 80,770 shares in the company, valued at $19,358,953.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 80,079 shares of company stock valued at $19,354,832. 6.50% of the stock is currently owned by corporate insiders.

Stryker Stock Performance

Stryker stock opened at $255.75 on Wednesday. The stock’s 50 day simple moving average is $243.85 and its two-hundred day simple moving average is $223.70. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.19 and a current ratio of 2.04. The stock has a market cap of $96.78 billion, a price-to-earnings ratio of 39.77, a PEG ratio of 2.87 and a beta of 0.94. Stryker Co. has a fifty-two week low of $188.84 and a fifty-two week high of $279.28.

Stryker (NYSE:SYK – Get Rating) last posted its quarterly earnings data on Monday, October 31st. The medical technology company reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.24 by ($0.12). The firm had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.46 billion. Stryker had a net margin of 13.69% and a return on equity of 22.27%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.20 earnings per share. As a group, analysts expect that Stryker Co. will post 9.17 earnings per share for the current fiscal year.

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Friday, December 30th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.17%. This is a boost from Stryker’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Thursday, December 29th. Stryker’s payout ratio is presently 46.66%.

Stryker Profile

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Stryker Corp. operates as a medical technology company. It operates through the following segments: Orthopaedics & Spine and MedSurg & Neurotechnology. The Orthopaedics & Spine segment provides implants for use in total joint replacements, such as hip, knee, and shoulder, and trauma and extremities surgeries.