Central Bank & Trust Co. Decreases Stock Holdings in Stryker Co. (NYSE:SYK)

Central Bank & Trust Co. reduced its position in shares of Stryker Co. (NYSE:SYK) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,934 shares of the medical technology company’s stock after selling 150 shares during the period. Central Bank & Trust Co.’s holdings in Stryker were worth $4,442,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Stryker by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company’s stock worth $11,773,213,000 after purchasing an additional 252,188 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Stryker by 0.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company’s stock valued at $4,000,056,000 after acquiring an additional 54,693 shares during the last quarter. FMR LLC lifted its position in Stryker by 10.0% in the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company’s stock valued at $2,892,946,000 after acquiring an additional 727,850 shares during the last quarter. Geode Capital Management LLC lifted its position in Stryker by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company’s stock valued at $2,539,033,000 after acquiring an additional 168,436 shares during the last quarter. Finally, Norges Bank purchased a new stake in Stryker in the fourth quarter valued at $1,710,744,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Up 0.3%

Shares of NYSE SYK opened at $384.15 on Friday. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The company has a market capitalization of $146.63 billion, a PE ratio of 49.50, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The firm’s 50-day moving average is $370.10 and its two-hundred day moving average is $375.96.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.11. The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.50 earnings per share. Equities analysts anticipate that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Monday, June 30th. Stryker’s payout ratio is 45.41%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SYK shares. JMP Securities reissued a “market perform” rating on shares of Stryker in a research report on Monday, May 5th. The Goldman Sachs Group set a $422.00 price target on shares of Stryker in a research report on Tuesday, March 4th. Truist Financial boosted their price target on shares of Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, May 5th. Barclays upped their target price on shares of Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, Wall Street Zen cut shares of Stryker from a “buy” rating to a “hold” rating in a report on Friday. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $427.30.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the transaction, the director now owns 3,417,326 shares of the company’s stock, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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.