American Trust Has $4.52 Million Stock Position in Stryker Co. (NYSE:SYK)

American Trust trimmed its position in shares of Stryker Co. (NYSE:SYK) by 12.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,503 shares of the medical technology company’s stock after selling 1,810 shares during the quarter. American Trust’s holdings in Stryker were worth $4,517,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Avestar Capital LLC lifted its stake in Stryker by 1.1% in the third quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock worth $1,065,000 after purchasing an additional 31 shares during the last quarter. Patrick M Sweeney & Associates Inc. boosted its stake in shares of Stryker by 1.5% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after purchasing an additional 32 shares during the period. Stanley Laman Group Ltd. increased its stake in shares of Stryker by 4.6% in the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after buying an additional 33 shares during the period. Plimoth Trust Co. LLC boosted its position in Stryker by 0.3% during the 2nd quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock valued at $3,224,000 after buying an additional 33 shares during the period. Finally, Grimes & Company Inc. raised its stake in shares of Stryker by 0.4% during the third quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock valued at $2,977,000 after acquiring an additional 33 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Stryker Stock Performance

Stryker stock opened at $375.01 on Friday. The company has a market cap of $142.96 billion, a PE ratio of 40.19, a P/E/G ratio of 2.84 and a beta of 0.94. Stryker Co. has a 12 month low of $285.79 and a 12 month high of $398.20. The company has a fifty day moving average price of $372.88 and a two-hundred day moving average price of $354.65. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.46 EPS. Research analysts expect that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.84 dividend. This is an increase from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.90%. The ex-dividend date is Tuesday, December 31st. Stryker’s dividend payout ratio is currently 34.30%.

Analysts Set New Price Targets

SYK has been the subject of a number of recent research reports. Wolfe Research assumed coverage on Stryker in a research note on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective for the company. Wells Fargo & Company increased their price objective on shares of Stryker from $405.00 to $427.00 and gave the company an “overweight” rating in a report on Wednesday. JPMorgan Chase & Co. upped their price target on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price objective (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group upped their target price on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $404.35.

Insider Buying and Selling at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the sale, the vice president now directly owns 10,042 shares in the company, valued at $3,685,213.16. The trade was a 42.25 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

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.