CENTRAL TRUST Co Decreases Stock Position in Stryker Co. (NYSE:SYK)

CENTRAL TRUST Co decreased its stake in shares of Stryker Co. (NYSE:SYK) by 4.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,678 shares of the medical technology company’s stock after selling 708 shares during the quarter. CENTRAL TRUST Co’s holdings in Stryker were worth $5,253,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Burkett Financial Services LLC purchased a new position in Stryker in the fourth quarter valued at $25,000. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in shares of Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 61 shares during the last quarter. Rogco LP purchased a new position in shares of Stryker in the 4th quarter valued at about $30,000. DSM Capital Partners LLC acquired a new stake in shares of Stryker during the 4th quarter worth about $34,000. Finally, HBC Financial Services PLLC acquired a new position in Stryker in the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Buying and Selling

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at $1,317,414. The sale was disclosed in a filing with the SEC, which is available at this link. 5.50% of the stock is owned by insiders.

Analyst Ratings Changes

SYK has been the subject of several recent analyst reports. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $315.00 to $360.00 in a research report on Wednesday, January 31st. Barclays upped their price objective on shares of Stryker from $372.00 to $376.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Truist Financial lifted their target price on Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a research report on Wednesday, January 31st. Needham & Company LLC raised Stryker from a “hold” rating to a “buy” rating and set a $392.00 target price for the company in a research report on Wednesday. Finally, Piper Sandler lifted their price target on Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus target price of $367.32.

Stryker Stock Performance

NYSE SYK traded up $4.91 during trading hours on Wednesday, hitting $335.42. 1,515,387 shares of the stock were exchanged, compared to its average volume of 1,336,249. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $361.41. The stock has a 50-day moving average of $340.69 and a 200 day moving average of $323.38. The company has a market cap of $127.78 billion, a price-to-earnings ratio of 38.29, a price-to-earnings-growth ratio of 2.57 and a beta of 0.91. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.14 earnings per share. As a group, equities research analysts forecast that Stryker Co. will post 11.94 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a $0.80 dividend. The ex-dividend date is Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.95%. Stryker’s dividend payout ratio is presently 36.53%.

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.