Stryker Co. (NYSE:SYK) Shares Sold by 1ST Source Bank

1ST Source Bank trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,540 shares of the medical technology company’s stock after selling 172 shares during the period. 1ST Source Bank’s holdings in Stryker were worth $1,995,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SYK. Assetmark Inc. grew its position in Stryker by 30.7% in the 3rd quarter. Assetmark Inc. now owns 1,013 shares of the medical technology company’s stock valued at $366,000 after buying an additional 238 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Stryker during the third quarter valued at about $362,000. Signature Estate & Investment Advisors LLC lifted its stake in Stryker by 3.9% during the third quarter. Signature Estate & Investment Advisors LLC now owns 1,459 shares of the medical technology company’s stock valued at $527,000 after buying an additional 55 shares in the last quarter. Empowered Funds LLC lifted its stake in Stryker by 6.5% during the third quarter. Empowered Funds LLC now owns 6,504 shares of the medical technology company’s stock valued at $2,350,000 after buying an additional 399 shares in the last quarter. Finally, Coastline Trust Co purchased a new stake in Stryker during the third quarter valued at about $194,000. Institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on SYK. Canaccord Genuity Group upped their price objective on shares of Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. Needham & Company LLC reissued a “buy” rating and issued a $442.00 price target on shares of Stryker in a research report on Wednesday, January 29th. Citigroup reissued a “buy” rating and issued a $450.00 price target on shares of Stryker in a research report on Wednesday, February 26th. Finally, JMP Securities reissued a “market perform” rating on shares of Stryker in a research report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $421.90.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the sale, the director now owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the transaction, the director now directly owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by corporate insiders.

Stryker Trading Up 1.7 %

Shares of SYK stock opened at $369.96 on Monday. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $383.04 and its two-hundred day moving average is $373.60. The company has a market cap of $141.17 billion, a PE ratio of 47.68, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter in the prior year, the firm earned $3.46 EPS. Equities analysts predict that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.84 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.91%. Stryker’s payout ratio is 43.30%.

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.