Bank of Stockton Reduces Holdings in Stryker Co. (NYSE:SYK)

Bank of Stockton trimmed its holdings in Stryker Co. (NYSE:SYK) by 6.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 4,896 shares of the medical technology company’s stock after selling 347 shares during the period. Bank of Stockton’s holdings in Stryker were worth $1,769,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SYK. DGS Capital Management LLC acquired a new position in Stryker in the first quarter valued at about $239,000. Wealthcare Advisory Partners LLC increased its holdings in Stryker by 41.4% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 1,049 shares of the medical technology company’s stock valued at $375,000 after purchasing an additional 307 shares during the last quarter. Courier Capital LLC raised its position in Stryker by 19.3% in the first quarter. Courier Capital LLC now owns 3,357 shares of the medical technology company’s stock valued at $1,201,000 after purchasing an additional 543 shares during the period. Capital Asset Advisory Services LLC lifted its stake in Stryker by 3.3% during the first quarter. Capital Asset Advisory Services LLC now owns 1,277 shares of the medical technology company’s stock worth $448,000 after purchasing an additional 41 shares in the last quarter. Finally, Register Financial Advisors LLC purchased a new position in shares of Stryker during the first quarter worth $105,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Transactions at Stryker

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the sale, the chief financial officer now owns 2,852 shares of the company’s stock, valued at approximately $949,716. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Viju Menon sold 600 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the sale, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock worth $71,811,372 over the last ninety days. 5.90% of the stock is currently owned by company insiders.

Stryker Stock Performance

Stryker stock traded down $3.76 during midday trading on Friday, hitting $356.14. 285,849 shares of the company’s stock were exchanged, compared to its average volume of 1,243,121. Stryker Co. has a 12-month low of $255.22 and a 12-month high of $374.63. The stock has a market cap of $135.67 billion, a price-to-earnings ratio of 41.08, a price-to-earnings-growth ratio of 2.83 and a beta of 0.91. The firm’s 50 day simple moving average is $357.99 and its 200 day simple moving average is $343.59. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the prior year, the business earned $2.54 EPS. The firm’s revenue was up 8.5% compared to the same quarter last year. Equities research analysts predict that Stryker Co. will post 12 EPS for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Monday, September 30th. Stryker’s payout ratio is 36.53%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SYK. UBS Group boosted their price target on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. BTIG Research raised their price target on shares of Stryker from $374.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Truist Financial upped their price objective on Stryker from $345.00 to $370.00 and gave the stock a “hold” rating in a research report on Monday, October 14th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $380.00 target price on shares of Stryker in a report on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus price target of $381.16.

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.