Bank of Stockton Sells 391 Shares of Stryker Co. (NYSE:SYK)

Bank of Stockton lessened its holdings in Stryker Co. (NYSE:SYK) by 8.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,505 shares of the medical technology company’s stock after selling 391 shares during the quarter. Bank of Stockton’s holdings in Stryker were worth $1,622,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Transcend Capital Advisors LLC lifted its position in shares of Stryker by 11.5% in the fourth quarter. Transcend Capital Advisors LLC now owns 10,942 shares of the medical technology company’s stock worth $3,940,000 after purchasing an additional 1,132 shares in the last quarter. Bradley Foster & Sargent Inc. CT increased its holdings in Stryker by 2.9% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 60,329 shares of the medical technology company’s stock worth $21,721,000 after buying an additional 1,679 shares during the last quarter. Paradigm Asset Management Co. LLC acquired a new position in Stryker during the fourth quarter worth $1,188,000. Cassaday & Co Wealth Management LLC acquired a new position in Stryker during the fourth quarter worth $982,000. Finally, Centricity Wealth Management LLC acquired a new position in Stryker during the fourth quarter worth $30,000. Institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SYK. Robert W. Baird boosted their target price on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Truist Financial boosted their target price on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. boosted their target price on shares of Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, UBS Group upped their price objective on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $420.68.

Stryker Trading Down 0.5 %

SYK stock opened at $386.47 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The company’s 50-day simple moving average is $377.92 and its 200 day simple moving average is $368.21. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. The company has a market capitalization of $147.47 billion, a PE ratio of 49.80, a price-to-earnings-growth ratio of 2.93 and a beta of 0.96.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period in the prior year, the firm earned $3.46 EPS. As a group, sell-side analysts anticipate that Stryker Co. will post 13.49 earnings per share for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.84 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.87%. Stryker’s dividend payout ratio (DPR) is currently 43.30%.

Insider Transactions at Stryker

In other news, Director Allan C. Golston sold 2,458 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the transaction, the director now owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the transaction, the director now directly owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Stryker Company 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.