Commerce Bank Acquires 2,904 Shares of Stryker Co. (NYSE:SYK)

Commerce Bank lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 183,427 shares of the medical technology company’s stock after buying an additional 2,904 shares during the period. Commerce Bank’s holdings in Stryker were worth $66,043,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Stryker in the 4th quarter valued at approximately $25,000. Rakuten Securities Inc. grew its position in shares of Stryker by 618.2% in the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock valued at $28,000 after acquiring an additional 68 shares during the period. Centricity Wealth Management LLC bought a new stake in shares of Stryker in the 4th quarter valued at about $30,000. BankPlus Trust Department acquired a new stake in Stryker in the 4th quarter valued at about $33,000. Finally, Activest Wealth Management acquired a new position in Stryker during the fourth quarter worth approximately $36,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insiders Place Their Bets

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 transaction of $78,993,998.08. Following the completion of the transaction, the director now owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the sale, the director now owns 14,895 shares of the company’s stock, valued at $5,705,827.65. The trade was a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SYK shares. Truist Financial increased their price target on Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Argus set a $450.00 target price on shares of Stryker in a report on Monday, February 3rd. JPMorgan Chase & Co. raised their price objective on shares of Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. JMP Securities reissued a “market perform” rating on shares of Stryker in a report on Tuesday, February 18th. Finally, The Goldman Sachs Group set a $422.00 price objective on Stryker in a report on Tuesday, March 4th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $423.53.

Stryker Stock Performance

Stryker stock opened at $346.46 on Friday. 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 stock has a market cap of $132.24 billion, a PE ratio of 44.65, a P/E/G ratio of 2.93 and a beta of 0.93. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The business’s 50-day moving average price is $371.83 and its two-hundred day moving average price is $373.11.

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

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is 43.30%.

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.