Park National Corp OH Has $17.54 Million Stock Position in Stryker Co. (NYSE:SYK)

Park National Corp OH trimmed its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 5.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,723 shares of the medical technology company's stock after selling 2,682 shares during the quarter. Park National Corp OH's holdings in Stryker were worth $17,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Private Advisor Group LLC grew its holdings in shares of Stryker by 0.9% during the second quarter. Private Advisor Group LLC now owns 15,441 shares of the medical technology company's stock valued at $5,254,000 after buying an additional 131 shares during the last quarter. Norden Group LLC boosted its position in Stryker by 6.1% in the second quarter. Norden Group LLC now owns 831 shares of the medical technology company's stock valued at $283,000 after buying an additional 48 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Stryker by 15.2% in the 2nd quarter. Acadian Asset Management LLC now owns 64,501 shares of the medical technology company's stock worth $21,939,000 after buying an additional 8,495 shares during the period. Prudential PLC raised its position in Stryker by 17.0% during the 2nd quarter. Prudential PLC now owns 5,660 shares of the medical technology company's stock worth $1,926,000 after buying an additional 822 shares during the last quarter. Finally, Wedbush Securities Inc. raised its holdings in shares of Stryker by 2.2% during the second quarter. Wedbush Securities Inc. now owns 8,299 shares of the medical technology company's stock worth $2,824,000 after purchasing an additional 177 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Insiders Place Their Bets

In other news, CEO Kevin Lobo sold 57,313 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now directly owns 100,027 shares of the company's stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.50% of the company's stock.

Stryker Price Performance

Shares of NYSE:SYK traded up $9.01 during trading on Wednesday, reaching $364.19. The company had a trading volume of 1,534,680 shares, compared to its average volume of 1,279,956. Stryker Co. has a twelve month low of $298.52 and a twelve month high of $398.20. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The firm has a market capitalization of $138.84 billion, a PE ratio of 39.03, a price-to-earnings-growth ratio of 2.82 and a beta of 0.95. The firm's fifty day moving average is $375.26 and its 200 day moving average is $357.47.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm had revenue of $5.49 billion for the quarter, compared to analysts' expectations of $5.37 billion. During the same period in the previous year, the business earned $2.46 earnings per share. Stryker's revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities analysts forecast that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The firm 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 $0.84 dividend. This is an increase from Stryker's previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.92%. Stryker's dividend payout ratio is currently 36.01%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $442.00 target price on shares of Stryker in a report on Tuesday. JPMorgan Chase & Co. raised their price objective on Stryker from $375.00 to $420.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Wells Fargo & Company upped their target price on Stryker from $405.00 to $427.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 11th. Robert W. Baird lifted their price target on shares of Stryker from $378.00 to $405.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Finally, Piper Sandler reissued an "overweight" rating and issued a $420.00 price target (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $405.80.

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.