Stock Yards Bank & Trust Co. Sells 32,355 Shares of Stryker Corporation $SYK

Stock Yards Bank & Trust Co. cut its stake in shares of Stryker Corporation (NYSE:SYK) by 39.7% during the 4th quarter, HoldingsChannel reports. The firm owned 49,186 shares of the medical technology company’s stock after selling 32,355 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Stryker were worth $17,287,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Stryker by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 33,773,399 shares of the medical technology company’s stock valued at $12,485,012,000 after purchasing an additional 272,828 shares during the last quarter. State Street Corp grew its holdings in shares of Stryker by 1.0% during the 2nd quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock valued at $5,929,765,000 after purchasing an additional 150,204 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Stryker by 13.3% during the 3rd quarter. Alliancebernstein L.P. now owns 6,338,050 shares of the medical technology company’s stock worth $2,342,987,000 after acquiring an additional 741,542 shares during the last quarter. Legal & General Group Plc grew its holdings in Stryker by 4.4% during the 3rd quarter. Legal & General Group Plc now owns 2,303,290 shares of the medical technology company’s stock worth $851,457,000 after acquiring an additional 96,662 shares during the last quarter. Finally, Corient Private Wealth LLC grew its holdings in Stryker by 104.4% during the 2nd quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock worth $887,525,000 after acquiring an additional 1,146,998 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Stryker Stock Up 0.3%

Shares of NYSE SYK opened at $332.40 on Tuesday. The company has a market capitalization of $127.30 billion, a P/E ratio of 39.57, a price-to-earnings-growth ratio of 1.94 and a beta of 0.92. Stryker Corporation has a 52-week low of $319.32 and a 52-week high of $404.87. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89. The company’s 50 day moving average price is $356.60 and its 200-day moving average price is $361.44.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.40 by $0.07. The firm had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.01 EPS. Equities analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be given a $0.88 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.1%. Stryker’s payout ratio is 41.90%.

Insider Activity

In other news, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total value of $90,730,000.00. Following the transaction, the director owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SYK shares. Needham & Company LLC boosted their target price on shares of Stryker from $448.00 to $454.00 and gave the stock a “buy” rating in a report on Friday, January 30th. BTIG Research boosted their target price on shares of Stryker from $410.00 to $412.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Sanford C. Bernstein boosted their target price on shares of Stryker from $450.00 to $465.00 and gave the stock an “outperform” rating in a report on Friday, January 9th. UBS Group reduced their target price on shares of Stryker from $400.00 to $380.00 and set a “neutral” rating on the stock in a report on Tuesday, March 17th. Finally, Evercore set a $390.00 target price on shares of Stryker in a report on Monday, January 5th. Fourteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and an average price target of $427.50.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.