Stryker Co. (NYSE:SYK) Stock Holdings Cut by American Trust

American Trust lowered its holdings in Stryker Co. (NYSE:SYK - Free Report) by 12.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,503 shares of the medical technology company's stock after selling 1,810 shares during the period. American Trust's holdings in Stryker were worth $4,517,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dunhill Financial LLC grew its position in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company's stock valued at $27,000 after acquiring an additional 37 shares during the period. Centennial Bank AR grew its position in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company's stock valued at $32,000 after acquiring an additional 48 shares during the period. Darwin Wealth Management LLC purchased a new stake in Stryker during the third quarter valued at about $36,000. HBW Advisory Services LLC purchased a new stake in Stryker during the third quarter valued at about $42,000. Finally, Hara Capital LLC purchased a new stake in Stryker during the third quarter valued at about $42,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insider Activity

In related news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the transaction, the vice president now directly owns 10,042 shares of the company's stock, valued at $3,685,213.16. This represents a 42.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares of the company's stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Barclays boosted their price target on Stryker from $402.00 to $418.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Citigroup boosted their price target on Stryker from $411.00 to $450.00 and gave the company a "buy" rating in a research report on Wednesday. Piper Sandler restated an "overweight" rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Evercore ISI boosted their price objective on Stryker from $380.00 to $384.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Finally, Truist Financial boosted their price objective on Stryker from $370.00 to $380.00 and gave the stock a "hold" rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $404.35.

Stryker Stock Down 0.1 %

NYSE SYK traded down $0.46 on Friday, hitting $374.60. 755,824 shares of the stock traded hands, compared to its average volume of 1,257,977. The stock has a 50-day moving average of $372.88 and a 200 day moving average of $354.65. Stryker Co. has a twelve month low of $285.79 and a twelve month high of $398.20. The company has a market capitalization of $142.81 billion, a P/E ratio of 40.19, a price-to-earnings-growth ratio of 2.84 and a beta of 0.94. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.10. The firm had revenue of $5.49 billion for the quarter, compared to analysts' expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. Stryker's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.46 earnings per share. As a group, analysts expect that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Stryker's previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a dividend yield of 0.90%. Stryker's dividend payout ratio is 34.30%.

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.