Huntington National Bank Grows Position in Stryker Co. (NYSE:SYK)

Huntington National Bank lifted its position in Stryker Co. (NYSE:SYK - Free Report) by 5.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 283,703 shares of the medical technology company's stock after purchasing an additional 15,900 shares during the quarter. Huntington National Bank owned 0.07% of Stryker worth $102,148,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SYK. Norges Bank purchased a new position in shares of Stryker during the fourth quarter worth approximately $1,710,744,000. Raymond James Financial Inc. purchased a new position in Stryker in the 4th quarter worth $353,394,000. Proficio Capital Partners LLC raised its position in Stryker by 52,520.8% in the 4th quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company's stock worth $214,660,000 after purchasing an additional 595,061 shares during the period. RTW Investments LP purchased a new stake in Stryker during the third quarter valued at about $143,392,000. Finally, State Street Corp grew its stake in shares of Stryker by 2.2% during the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company's stock valued at $5,279,788,000 after buying an additional 316,404 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Stryker

In other news, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction dated 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 owns 14,895 shares of the company's stock, valued at $5,705,827.65. The trade was a 14.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction dated 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 sale, the director now directly owns 3,642,075 shares in the company, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.50% of the stock is owned by company insiders.

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Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wells Fargo & Company increased their target price on Stryker from $427.00 to $435.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Royal Bank of Canada increased their price objective on Stryker from $425.00 to $435.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a research note on Tuesday, February 18th. Barclays increased their price target on shares of Stryker from $418.00 to $443.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Finally, Needham & Company LLC restated a "buy" rating and issued a $442.00 price objective on shares of Stryker in a research report on Friday, March 21st. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $421.90.

Stryker Stock Down 6.0 %

Stryker stock traded down $22.01 on Friday, hitting $346.14. 3,956,734 shares of the stock traded hands, compared to its average volume of 1,318,949. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The firm has a market cap of $132.12 billion, a P/E ratio of 44.61, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The business's fifty day simple moving average is $381.69 and its 200 day simple moving average is $374.23.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 in the previous year, the company posted $3.46 earnings per share. As a group, sell-side analysts forecast that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

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