Cadence Bank Has $280,000 Stock Position in Stryker Co. (NYSE:SYK)

Cadence Bank trimmed its stake in shares of Stryker Co. (NYSE:SYK) by 27.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 783 shares of the medical technology company’s stock after selling 290 shares during the quarter. Cadence Bank’s holdings in Stryker were worth $280,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in SYK. Burkett Financial Services LLC bought a new position in shares of Stryker in the fourth quarter valued at approximately $25,000. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in shares of Stryker by 203.3% in the fourth 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 bought a new position in shares of Stryker in the fourth quarter valued at approximately $30,000. DSM Capital Partners LLC bought a new position in shares of Stryker in the fourth quarter valued at approximately $34,000. Finally, HBC Financial Services PLLC bought a new position in shares of Stryker in the fourth quarter valued at approximately $37,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SYK. Robert W. Baird lifted their target price on shares of Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Citigroup boosted their price objective on shares of Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Piper Sandler boosted their price objective on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Barclays boosted their price objective on shares of Stryker from $372.00 to $376.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Finally, The Goldman Sachs Group assumed coverage on shares of Stryker in a research report on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price objective for the company. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $372.05.

Stryker Trading Up 1.3 %

Shares of SYK stock traded up $4.23 on Friday, hitting $331.67. The stock had a trading volume of 1,649,590 shares, compared to its average volume of 1,291,044. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. The firm has a market cap of $126.35 billion, a P/E ratio of 38.10, a PEG ratio of 2.68 and a beta of 0.89. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The company has a fifty day moving average price of $339.05 and a two-hundred day moving average price of $338.63.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.14 EPS. As a group, analysts forecast that Stryker Co. will post 11.95 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Friday, June 28th. Stryker’s payout ratio is presently 36.53%.

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.